Definition of Workforce planning:

Workforce planning is analyzing the organization’s workforce to see if they have access to sufficient numbers of human resources at the right job, at the right time, and plan accordingly. 

It is an assessment to see if your organization has the talent to help achieve their future objectives and goals

Why is workforce planning important for business?

Workforce planning is crucial for translating your business strategy into reality. It aligns human resources to the organizations’ goals, by identifying its current and future needs, and taking measures to close the gap.  According to Financial Express, “organizational success depends on having the right employees with the right competencies at the right time. Workforce planning provides managers the means of identifying the competencies needed in the workforce not only in the present but also in the future and then selecting and developing that workforce. Finally, workforce planning allows organizations to address systematically issues that are driving workforce change.”

Workforce planning is essential for succession planning as well. Usually done for executive positions, it will let you know which leader is likely to retire or resign, and then pave the way for a smooth transition. The transition could involve additional qualifications, training, interviews, and so on. 

Getting started with Workforce planning: