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All-in-one HR platform · v2.0
14-day free trial · No credit cardhello@HrMagix.com
All-in-one HR platform · v2.0
14-day free trial · No credit cardhello@HrMagix.com
Estimating the people the organisation will need, in number, skills and location, against expected demand, and deciding how to close the gap through hiring, development or redeployment. It starts from an accurate picture of current headcount and attrition.
In most Indian companies workforce planning happens alongside the annual budget, between January and March, when department heads propose headcount for the next financial year. HR's role is to bring the base numbers: current headcount by role, expected exits based on recent attrition, and open positions already approved.
As an example, a sales team of 50 that expects to grow by 10 next year and has recently lost about 12 people a year needs to hire around 22, not 10. That number, and the time to hire for the role, decide when hiring has to start for people to be productive in the right quarter.
Plans drift during the year, so revisit them each quarter against actual hiring and exits, rather than discovering in the next budget that the original plan was never met.
Understand the current workforce, forecast what the business will need, identify the gap, and plan how to close it through hiring, development, redeployment or restructuring.
Budgeting fixes how many people and how much cost for the year. Workforce planning also asks which skills are needed and how to get them over a longer horizon.
Headcount by role and location, attrition and retirement patterns, time to hire, and the business plan the forecast is based on.
Typically one year in detail and two to three years at a high level, reviewed whenever the business plan changes.
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