How does strategic workforce planning (SWP) deliver value in global organizations?
What will be an ideal response?
In the course of its research with more than 25 organizations, The Conference Board has found that strategic workforce planning (SWP) is an iterative process that takes 3-5 years to reach its full potential. When it does, business leaders grasp that it does not produce "just" HR data; it also delivers business intelligence. As a result, SWP becomes an input to business strategy. In global organizations, SWP delivers value in the following four ways:
1. It uncovers significant differences among business units or locations, such as which countries' workforces will grow or shrink, and by how much. It also reveals how the regional supply of talent compares to the demand and where the company derives the highest return from its investments in human capital.
2. It provides metrics and other tools to support business decisions. For example, 3M uses productivity metrics to help determine which countries receive additional resources and which ones receive fewer. UBS used scenario planning-the anticipated future, a bear market, and a bull market-and financial indicators to signal when the bank needed to switch its workforce plans from one scenario to another.
3. It enables leaders to compare the long-term implications of alternative business scenarios and HR options. At UBS, for example, planners developed a cost model to illustrate the short-term trade-offs between various staffing options, as well as the long-term costs of failing to develop a coherent, regional talent strategy.
4. It supports different kinds of planning at different levels of an organization. SWP does not simply retrieve information on demand. Rather, it raises the discussion from a tactical to a strategic level and incorporates long-term considerations such as labor supply, regulatory changes, infrastructure, and costs.
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