Ask any C-level executive what their biggest worries are, and I guarantee you the first (or maybe the second) thing they list is hiring and retaining the best people for the job, at the right price. With the growth of new skill sets that better leverage technology and the influx of millennial talent, it’s no surprise that the hiring market is more competitive than ever before.
Workforce planning—and specifically headcount planning— is a large focus and discussion point for companies who want a strong start this year. Fueling these discussions are anticipated wage pressures that are likely to come into play, as a recent Reuters article suggests.
Hiring and retention expectations are high from the business, yet rather than using proper workforce planning tools, the majority of HR departments are still managing processes using a cobbled collection of cumbersome legacy systems and point solutions—with spreadsheets filling the gaps. Without a system that enables collaboration and automation of the workforce planning process, it’s no wonder that HR executives feel they aren’t set up to succeed.
HR’s ability to develop a reliable headcount plan is dependent on receiving a budget and resource plan from each department that has been consolidated, vetted, prioritized, and approved by corporate management. The budgeted workforce plan for the year (and each quarter) also relies on having a collaborative system and well-tracked process to seamlessly work with each department. There are a lot of moving parts when it comes to workforce planning—and department stakeholders and HR need to be aligned.
Historically, most workforce planning processes have been juggled between email conversations and spreadsheets. In fact, according to an Aberdeen research report, 54 percent of organizations surveyed still have manual or spreadsheet-based capabilities. The side effect of this reality is that companies waste considerable time linking spreadsheets, consolidating numbers, troubleshooting errors, and reloading data.
Better manage your workforce planning strategy
What if there was an alternative out there that allows you to feed your workforce data into one planning platform, enabling your organization to develop and optimize your current workforce and plan for the future? Further, what if there’s a solution that allows HR to better collaborate with other crucial departments such as Finance, Marketing, Sales, and Operations?
With a comprehensive workforce planning platform, your team can better manage the current hiring demand and, more importantly, have visibility into trends like employee turnover and identify ways to take action. By having connected information across the enterprise, HR can provide insights to the business around hiring trends, retention issues, or engagement strategies that they can then use to strengthen the workforce.
There is a better way—and it begins with replacing those standalone spreadsheets and disconnected, legacy systems. With Anaplan, let all the stress and sleepless nights of consolidating headcount plans and budgets become a distant memory.