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Workforce planning for business agility

August 2, 2021 Digital Experience, Intelligent Planning & Execution

The unexpected ferocity of the Covid-19 pandemic forced many businesses to hastily lay off employees to bring down cash burn. It seemed to be the right thing to do. Now, as the pandemic is being forced back in many parts of the world, and as businesses recover, they are discovering a shortage of manpower. Businesses that examine their recent actions will quickly draw a simple conclusion: Their workforce planning systems let them down. There is a major need to go beyond the traditional hire-to-retire type processes that go into most HCM systems. 

Revisit workforce planning and give it a 21st century makeover.

Studies show that 69% of organizations say that workforce planning is a priority, but only 44% are engaged in it. The impact of this is widespread. Poor workforce planning lowers productivity, demotivates employees, adds to the cost of re-training and leads to loss of customers. Workforce planning must be able to deliver short-term decisions without compromising or losing sight of long-term business goals. One way to achieve this is to leverage a platform that links employee data with business planning, talent strategy and headcount planning (with a granular location-wise view) that combines everything with compensation planning. 

Use Anaplan’s Workforce Planning Module to Achieve Substantial Improvements in Workforce Planning

Using a platform like Anaplan—that orchestrates information, data, models and scenarios to deliver insights and forecasts—businesses can avoid being handicapped by talent gaps or by burgeoning payroll bills. Our Workforce Planning solution on the Anaplan platform has demonstrated that businesses can bring about substantial improvement in their workforce planning. 

Enabling 100% visibility into workforce requirements for a Global Manufacturing Company Achieve a 30% increase in sales productivity through workload planning for an FMCG
A global manufacturing company with 20,000+ employees across 60+ countries used our solution in a post M&A scenario, enabling 100% visibility into workforce requirements. The business could identify critical talent gaps and control overspending on non-critical roles. The solution provided a 12-month forecast of talent requirements along with employee cost, leading to precise staffing plans.  An FMCG giant with operations across 40 countries achieve a 30% increase in sales productivity through workload planning. The model identified the right sales headcount based on Route to Market strategies and optimized field activities and workloads. 

The results of workforce planning achieved by the manufacturing client and the FMCG client are replicable. This can be achieved through:

  • Data integration across HRIS, HCM, CRM and ERP systems into a Central Data Hub for planning
  • Connected planning and real time collaboration across HR, finance, and business units to deliver precise and timely supply of talent across locations and business groups
  • Scenario planning through real time simulations of business environments that provide insights into workforce requirements, wages and benefits – that eventually flow back to annual budget planning
  • Embedded intelligence that uses data to predict attrition and optimize workforce mix, headcount capacity and capability plans based on needs and constraints

Making workforce planning a strategic imperative for today’s businesses to manage uncertainties.

Organizations that focus on the above factors move their business from basic budget-driven headcount methodology to an integrated, data-driven planning mechanism that finds instant acceptance within user groups.

Using our solution clients can expect to optimized workforce and associated costs by up to 0.25%, boost workforce planning productivity by as much as 50% and improved forecasting accuracy by up to 20 percentage points. 

Workforce planning which has become a critical function given today’s business uncertainties, talent deficit and competition. Future-focused businesses must eliminate the use of outdated manual processes for the function. They must—sooner, rather than later—choose a true data and technology-driven enterprise-wide planning platform. Click here to know more about our workforce planning solution.

Author:

Amit Paul
GM, Intelligent Planning & Execution,
ITC Infotech

Rahul Lalwani
Senior Consultant, Intelligent Planning & Execution,
ITC Infotech

 

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Beware of fraudulent and fake job offers

It has come to our attention that certain employment agencies and individuals are asking people for money in exchange for a job at ITC Infotech.

Such Agencies/individuals could impersonate ITC Infotech’s officers, use the company name/logo, brand names and images illegally, without authorization, and/or try to extract money towards security deposit, documentation processing fees, training fees, and so on.

Please note that ITC Infotech never asks job applicants or members of the public to pay money in any form while recruiting.

Feel free to reach out to us at contact.us@itcinfotech.com to report any such incidents that you may have experienced, please use the subject line “Recruitment Fraud Alert” in your message.

Always exercise caution and stay protected against fraud:

  • Do not pay money or transfer funds to anyone toward securing an ITC Infotech job. ITC Infotech will not accept liability for any losses that may have been suffered by the victims of such fraudulent activities.
  • Be careful when sharing your personal information and protect yourself from potential damage. Do not engage with people who fraudulently misrepresent ITC Infotech or its employees/officers and try to solicit payments under the pretext of offering jobs.

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