What is a workforce plan?
Failure to distill the workforce planning process and analytics down to a brief plan will make it difficult for a business to adopt the plan, maintain accountability and track progress. In Mercer’s experience, the first workforce planning cycle is the most difficult, but when done right, it is more easily replicated in the next planning cycle. This systematic process delivers not only a clear actionable workforce plan, but a process easily followed going forward. A well-crafted workforce plan identifies unique differences in both requirements and a company’s employment proposition so that the organization can more effectively attract and retain the right talent versus competing employers. Many organizations take the extra step of incorporating their plan into a workforce dashboard for ongoing tracking. Powerful analytics are needed to address key workforce risks. Historically, many companies have relied on high-level benchmarks, existing performance reports and anecdotes to identify an
