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Workforce Planning is about continually aligning your workforce to the priorities of your organisation to ensure that you are in the best position to meet your wider goals. To do this effectively, it’s important that your organisation has the right people, with the right skills, employed in the right place at the right time.
The issue with this is that it can be very difficult to implement and very few companies do this successfully.
In this e-book, Mike Jeffery, Head of Financial Performance Management at MHR Analytics discusses workforce planning and the impact of choosing to adopt it into the wider business planning process.
How could workforce planning solutions save businesses time and optimise ROI?
Many businesses still rely on spreadsheets to carry out their workforce planning. This approach not only takes a considerable amount of time, but it also poses the risk of inaccurate data. In addition to this, spreadsheets are infamously difficult to aggregate, so identifying useful insights to draw meaningful conclusions is an additional challenge that business will face.
Workforce planning solutions automate the workforce planning process so that businesses can plan with confidence. These solutions contain pre-built drivers and calculations which can be configured to the unique requirements of an organisation in a matter of days — all without the need for repeat administration work or the risk of inaccurate data.
Furthermore, workforce planning solutions remove the need for data input-led roles and allow the costs associated with these positions to be better utilised in data analysis roles. This has obvious financial benefits for businesses in terms of ROI, but it also works to the advantage of employees by enabling them to focus on more highly-skilled work over routine tasks.
How can workforce planning solutions help us gain a competitive edge in the market?
The best decision-making begins with accurate analysis. Automating the workforce planning process provides businesses with more comprehensive analysis so that they can draw better conclusions.
Companies can use workforce planning solutions to carry out real-time analysis to see how current changes affect both the short-term and the long-term financial plan, as well as seeing how these two plans correlate with each other...
The Finance Cycle
Financial Performance Management is a continuous cycle and it’s important that each stage in the cycle is optimised for success.
BLOG: Everything you need to know about workforce planning
People are an organisation’s biggest asset. Workforce planning is all about aligning your people strategy with your evolving organisational needs.
CASE STUDY: Rotherham Metropolitan Borough Council
Rotherham Metropolitan Borough Council has chosen MHR Analytics to implement a Financial Workforce Planning solution into the council which supports 260,000 residents in Rotherham.
CASE STUDY: Dudley College
Dudley College of Technology, a further education college in the Metropolitan Borough of Dudley, has partnered with MHR Analytics to streamline its finance systems, swapping a number of manual spreadsheet based processes for cutting-edge data software.
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With data constantly flowing in and out of an organisation, it's important to establish repeatable processes to build and maintain standards for data quality.
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