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Workforce Planning in the US
Demographically, the US is in the helpful position of being the western country least affected by population aging and shrinking – but the US workforce is definitely changing, and the demand for a new and effective approach to Strategic Workforce Planning is on the rise.
 
 The Conference Board has recently released a research report on Strategic Workforce Planning (see article below), and there are many other sources of really good discussion and debate to be found – look at Peter Capelli’s “what labor shortage?” work, the Human Capital Institute’s communities, the workforce planning roundtable (for shorter term planning), excellent trade magazines, and an increasing focus on talent in a range of business magazines, websites and blogs.  Workforce Planning’s tipping point looks to be about to arrive in the US .
 
 There is also a plethora of good information and opinion on the current and future US labor market.  If you want some brief information, the Bureau of Labor Statistics recently released their Chartbook 2005, which reveals some interesting characteristics and trends in the US labor force, such as:
  • Participation Rates in most cohorts are down – while the labor force participation rate overall has remained steady since 2001, this is really made up of an increase in participation for workers over 55, and a reduction labor force participation in every other age group.  Growth in participation rates in women has also levelled off
  • Of the ten jobs forecast to grow fastest, seven are in health, and three in computers.  Interestingly, two of the fastest are in personal and home aides, which is an emerging service sector
  • Most work remains full-time.  Only 7% of workers are self-employed, 17% work part-time, 10.9% are in non-traditional relationships such as contracting, 5.2% have more than one job

 Of course, geographical location is less and less important, whether you are talking about access to talent, information or ideas.  We look around the globe for the best workforce planning information and resources, and it’s great to see the rise of strong content in the US – even if the labor shortage there isn’t the looming crisis happening in some other parts of the world!  Do you have some resources we’ve missed?  If so, drop us a line and let us know, we’ll add them to our ever expanding online workforce planning resources, for all of us to share.

 
 
 The Conference Board Report
 
You have probably seen at least one article in the last month referring to the new report from The Conference Board "Strategic Workforce Planning - Forecasting Human Capital Needs to Execute Business Strategy".  With the launch press release titled "More Companies Turn to Workforce Planning to Boost Productivity and Efficiency", it's getting the attention it deserves.
 
The Conference Board's site describes the report:

"Once limited to calculating the gap between talent supply and demand, workforce planning is now a far more sophisticated process, akin to risk management or supply chain management. It enables an organization to adjust and respond quickly to immediate and future changes to its business requirements.

"In response to this emerging business need, The Conference Board convened the yearlong Strategic Workforce Planning Research Working Group in March 2005. This report is the culmination of presentations by thought leaders and best practice organizations, a literature review, and company interviews of 20 companies, from which nine were chosen for detailed case studies. Using these sources, the report seeks to answer:

  • "What is Strategic Workforce Planning?
  • "What have organizations learned from their experience about its implementation?
  • "How should Strategic Workforce Planning be adapted to fit specific organizational contexts?
  • "What impact has Strategic Workforce Planning had? What challenges limit its impact?"
Aruspex's approach to workforce planning is a very close match to what this report calls "Human Capital Planning", using the case study of Corning as an illustration.  If your organisation is a member of the Conference Board, we recommend you get yourself a copy of the report - if not, you will still be able to get a lot of good information in the press release, reviews and blogs on the web, and interviews by Mary Young!
 
 
 
Thought for the Month
"While no organization claims to have achieved it yet, many believe that the ultimate payoff from strategic workforce planning will be a vibrant, internal job market that transcends the boundaries between business units and geographies"
Dr Mary Young
 
Upcoming Events
Australia:  Strategic Workforce Planning Workshop, Melbourne, October 17-18
 
 
In The Press

Ageing workforce changing the way managers plan their strategy  - with a greater emphasis on workforce planning, Management-Issues - London
 
 
Coming of Age for Workforce Planning  - More companies moving toward strategic workforce planning, according to a recent US report report - HR Mag
 
U.S firms bemoan cost of overseas postings  - Nearly half of U.S companies believe that sending employees on international assignments is becoming more expensive and harder to manage, Management Issues
 
How different generations work together -  Virginia Byrd has probably worked with six generations, yet she is still plotting out new career goals today - Job Journal
 
Chinese employers face retention melt-down - The booming Chinese economy has left companies struggling to retain their professional staff - Management Issues
 
Australian Graduate Search goes Abroad  - With demand outstripping supply in many sectors, organisations are looking offshore to find the graduates needed - HR Mag

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Downloads
Wishful Thinking - our workforce planning white paper
 
Talking with Aruspex - an interview with us in IHRIM.link magazine August/September edition

"But where do I start???" - next month we'll outline the process three of our clients took to embed Strategic Workforce Planning in their organizations.

 
http://www.aruspex.com