Bridging the Skills Gap
Strategic Workforce Planning and Development
The shortage of experienced talent in the marketplace coupled with an aging workforce has left many organizations without the necessary workforce skills to meet current demand or achieve future business objectives, such as new service offerings, digital transformation, and execution of capital projects.
of professionals surveyed in 2023 believe the current talent shortage is long term or permanent
Source: People Keep
of professionals surveyed in 2023 believe the current talent shortage is long term or permanent
Source: People Keep
In order to combat these challenges, most organizations have launched workforce planning and development strategies and initiatives, including programs focused on hiring, skills development, and employee engagement. However, these programs are often developed in silos, which leads to misaligned business and people strategies, a disjointed employee experience, and lackluster returns on investment.
Workforce Planning
Does our workforce have the right size, structure, skills, and cost basis to ensure we are successful now and in the future?
Workforce Development
How do we build the right mix of employees and ensure they have the right structure, skills, and support to be successful?
Workforce Planning
Does our workforce have the right size, structure, skills, and cost basis to ensure we are successful now and in the future?
Workforce Development
How do we build the right mix of employees and ensure they have the right structure, skills, and support to be successful?
To keep pace with the talent challenges in today's rapidly evolving market, you need an integrated framework.
Integrated Workforce Planning and Development
An end-to-end workforce planning and development program establishes a foundation from which talent strategies can be developed, including how to:
Anticipate and plan for changes in workforce size and skill needs
Enhance leadership capabilities and functional expertise
Manage the workforce and retain top talent
Step 1
Workforce Planning
Key Outcomes:
- Current position and skill needs
- Medium- and long-term position and skill needs (next 3 to 5 years)
- Talent-related risks to enterprise and business unit strategies
- Overarching enterprise talent-related initiatives (e.g., leader capability, culture)
Step 2
Workforce Assessment
Key Outcomes:
- Baseline of current skills across the enterprise
- Gap analysis for current and future position and skill needs
- Viewpoint on skills to acquire externally via hiring vs. developed internally
- Skills inventory that can be leveraged across positions
Step 3
Workforce Development
Key Outcomes:
- Clear ownership of the end-to-end workforce planning and development cycle
- Defined success measures, including how and when to revisit initial cycle steps
- Integrated hiring and development programs across the employee life cycle
Benefits of Leveraging the Integrated Workforce Planning and Development Framework
1. Aligns business strategies and talent programs
2. Prioritizes talent investments to maximize ROI
3. Improves employee engagement and retention
4. Develops leader capabilities and allows for intentional workforce management
5. Prepares the organization for future shifts in the marketplace
Recent Case Studies and Research
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Kim Davenport
Partner and Director of Corporate Responsibility
