Labour Force Development in a Time of Continual Change

Today’s organizations are having a hard time recruiting key talent, making efficient labor force planning more critical than ever. Unemployment is also shriveling in various economic sectors, so closing the talent gaps is a question we cannot ignore.

The better you strategize for future talent gaps, the better adapted you will be to them. But in a time of fast change, how do you keep labour force developments relevant to the changing business needs? There is no easy solution to solving this problem, thus we will be sharing some strategies to help you solve your labour force development problems with greater sharpness. If you are a one-person team or a global center of excellence, these three key elements can help better your strategy and prepare you for favourable outcomes.

1. Determine key stakeholders and communicate frequently.

Orderly verifications with stakeholders on various operations and lines of business is good routine for any talent specialist, but it is particularly critical if you want to improve your labour force development. Familiarize yourself with these people and understand their long-term preoccupations. If stakeholders refer to a new initiative or a strategic change like getting into a new business, take the opportunity to learn and talk about ramifications of talent beforehand. Regular and informal talks with stakeholders is a great way to ensure that everyone is meeting their duties about ongoing labour force developments.

2. Use real-time data from external human resources.

Talent data is certainly a critical input to strategic labour force development, we need to gather and analyse information from other areas of the business in order to gain total understanding of the business and its requirements. Look for functional metrics that may indicate a change in the talent needs below. Examine the financial predictions that could affect your talent budget. Update your data constantly to assure that you are adequately equipped to adjust your labour force plans midway.

3. Use narration to help stakeholders recognize alternative scenarios.

The adaptability of your labour force plan relies upon your competence in imagining and planning a scope of possible outcomes concerning a key segment of your labour force. For example, what to do if the supply of talent increases? What about if it goes down? Does it remain the same? One way to get your stakeholders involved in this method is to create reasonable and practical scenarios for them to answer, such as imagining a more substantial than expected number of engineers retiring in 18 months.

Labour force development is constantly growing as organizations seek to become increasingly strategic in how to redistribute talent. These three strategies will help you no matter where you are in the continuum of maturity.

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