4 Key Steps to Strategic Human Resources Planning !
Strategic human resource planning forms the very foundation of the organization’s working system that aims at aligning human resources with the company’s goals. It is the continuous process of systematic planning that facilitates optimum use of an organization’s most valuable asset- qualified employees. Human resource planning process undeniably ensures the best fit between employees and jobs while keeping a check over employee shortages and surpluses. It helps companies to evaluate their needs and plan accordingly to meet those requirements. As a strategic management consulting firm, CerveauSys Strategic, understands the crucial role of Human Resource Planning in strengthening your business operations and gaining a competitive edge in the industry.
Here we help you learn about the different steps involved in strategic human resource planning that are critical to business success.
1) Evaluating HR Capacity: Assessing your organization’s HR capacity is the initial step towards strategic human resource management. Prior to initiating any hiring process, it’s crucial to identify the talent you have at your disposal. This can be achieved by building a well-defined skill inventory for your existing employees. Identifying the skills, talent, and knowledge of your employees will help you gather insights about your current potentialities and the existing gaps. The desired info is garnered through employee questionnaires or reviews or a combination of both. Employee assessment helps to determine the existing employee’s caliber to take extra responsibility when required as well as ascertain the current development plan for the employees.
2) Estimating HR Requirements: Once you are aware of the potential resources at your disposal, it’s time to estimate the future requirements. Here you need to answer some crucial questions for realistic forecasting like, is there a requirement for resource expansion? Can skill development and efficiency enhancement programs of current employees augment the requirements? Are their potential resources available in the market?
It’s important to evaluate the company’s demand for qualified talent and supply of such resources either from within the organization or from outside.
- Demand Forecasting: This will entail the number and types of talents required to meet the company’s present and future requirements.
- Supply Forecasting: Here the company will look for the availability of skills that cannot be augmented by the existing employees.
- Balancing the Demand and Supply Gap: Filling the demand and supply gap is a challenging task that needs to be addressed deftly. A balance can be drawn by adopting measures like training the existing employees or hiring new talent or simply combining the two approaches.
3) Implementing Human Resource Action Plan: The human resource planning process or action plan is determined according to the deficit or surplus of resources in the organization. Accordingly, plans can be implemented for new recruitment, training, and transfers in case of deficit or voluntary retirement schemes and redeployment in case of surplus.
- Recruitment: In this phase, you look forward to hiring new talent that can match your company needs. Leveraging different platforms like job sites, LinkedIn, etc invite potential seekers to fill the desired position. Besides, encourage employees to recommend candidates fit for the required position.
- Selection: Once you have the profiles of respective candidates, go ahead with the talent screening to select the best fit for the organization. If your demand and supply forecasts are done precisely you will face no issues in finding the right talent for the right roles.
- Hiring and induction: Hire the final candidates who perfectly match with your skill criteria and extend the desired offers.
- Training and development: Once the new employees are onboard, organize training programs for them to ensure they are adept with the desired skills and expertise. Encourage them for continuous skill enhancement to achieve optimum productivity.
- Remuneration and benefits: Offer lucrative packages including salary, benefits, and incentives, etc to your existing and new employees to win their confidence. Retaining talented resources is important for smooth business operations. Moreover, it also saves time and money of the company in the long-run.
- Performance Management: This keeps a track of the employee’s performances and helps to identify their strengths and areas of improvement. Performance assessment of the employees facilitates companies to train, motivate and reward workers which enhances productivity and leads to optimal results.
- Employee relation: While there are no fixed determinants to win employee’s loyalty and trust, developing healthy employee relation can go a long way in retaining and attracting resources. Top business consulting services recommend company policies focusing on employees’ safety, health and quality of work for achieving maximum employee satisfaction and welfare.
4) Monitoring and Evaluation: This involves monitoring the efficacy of the human resource action plan. HR plans need to be updated regularly to adapt to changing market trends and organizational needs. At regular intervals, you can review and re-evaluate the existing human resource management System process and test its performance against factors like productivity, employee retention, profits and more. Accordingly, changes can be incorporated and bottlenecks eliminated.
Being one of the leading business consulting firms, we help our clients to successfully meet their human resource management requirements and achieve their set targets. You too can benefit from our human resource management solutions to optimize your human resource talent and boost your organizational strength.