Workforce Planning

Translating the Business Plan Into the People Plan

65% the percentage of companies that are more concerned about the retention of critical-skill and top-performing employees now than they were before the economic crisis hit. And this percentage is growing, according to a recent Towers Watson flash survey.
The Business Challenge
Faced with the prospect of widening talent gaps, driven by changing employee demographics across the globe, leading organizations are addressing the following critical questions about their future workforce needs: Where are the risk areas within the organization for retirement, turnover and undesired talent loss? What are my current staffing and cost constraints, and how can I best deploy staff to meet demand? How will changes in business strategy and customer demand affect my staffing and talent requirements? How would our talent gaps be affected if we made investments in retaining critical workforce segments? Where are the alternative sources for external talent supply to decrease the gap? What happens to the gap and workforce costs if we change the skill mix to deliver on our strategy? What strategies do I need to employ to address my workforce issues? to help organizations anticipate future needs and make smart workforce investments that deploy the right skilled head count at the right time and cost. We combine a deep expertise in talent management and actuarial methodologies with our workforce analytics and planning process and tools to help you translate your business plans into robust projections of future workforce requirements. The process involves the following to create pivotal insights about your workforce: Quantifying anticipated losses of talent in key skilled job groups or locations Analyzing your workforce to understand the demographics, behavior patterns (e.g., turnover, movement and hiring) and linkage to business volumes and/or outcomes Linking business metrics to workforce metrics to align workforce analytics and planning with the business strategy and outcomes Identifying current and future workforce costs, gaps and issues using scenario modeling Identifying best locations for talent and aligning your organizations plans for growth or consolidation in alternative labor markets Using these insights to make informed decisions for workforce solutions and talent management

Translating Workforce Data Into Actionable Insights and Solutions

Towers Watsons Workforce Analytics and Planning practice can help your organization deal with these business issues. We use business and talent analytics

What does a typical workforce planning project look and feel like?
1. Review Business Plan and Workforce Data Set objectives for the process. Review business plan and related head count, skills and cost requirements. Conduct leadership interviews. Analyze historical data to develop workforce experience assumptions for projections. 2. Analyze and Model to Identify Gaps Analyze and benchmark current workforce composition and cost. Conduct workforce supply and demand projections. Review external labor market and trends. Model alternative scenarios. Evaluate alternative workforce strategies. Months 1 and 2 3. Develop Strategy and Road Map Identify and prioritize key workforce gaps. Assess solution channels and relevant HR interventions via programs and processes. Conduct an action workshop to create an HR strategy. Identify solutions and develop detailed implementation road map. Months 2 and 3 4. Execute and Measure Implement changes (e.g., new sourcing strategies, internal mobility policies, staffing planning approaches, training and cost-saving approaches). Train end users on the process and online toolkit. Develop ongoing metrics and scorecards. Embed ongoing tools and capability into business planning process. Months 3 and 4

Month 1

Timing can vary based on client needs and depth of business content.

Towers Watson Workforce MAPS Technology Enables Effective Workforce Analytics and Planning
Workforce MAPS is robust software that can serve as the foundation for your organizations workforce planning activities and provide insightful and powerful analyses across a broad range of key workforce dimensions. The main components: The Dashboard provides key metrics for recruiting, retention and key talent at a glance. Workforce Scan provides detailed analytics of your current workforce and historical workforce trends. Workforce Projection provides projections of your workforce, given the status quo. Scenario Modeling allows your client team to create and compare what if scenarios. External Labor Scan provides analysis of the impact of the external labor market on your workforce.

Workforce MAPS Technology

Dashboards Analytics

Projections

External Market

Workforce Analytics and Planning: Towers Watson Differentiators

Evidence-Based Approach We leverage both quantitative and qualitative methods to align talent strategies and identify solutions to drive better business performance. We have extensive global workforce data and proprietary research linking employee behaviors and demographics to customer, operational and business results. We bring the same clarity, discipline, objectivity and tools to managing talent as most companies do to other critical business assets, like capital and customers. We help our clients create the organization readiness, buy-in and alignment needed to launch and sustain workforce analytics and processes. Our dedicated consultants have deep expertise in all areas related to talent management, rewards and benefits. We have worked with leading companies across industries. We have worked with leading organizations across regions and industries, and thus bring consistent methodologies that are codified and applicable on a global basis. We are flexible in the way we support organizations and focus on transferring knowledge and skills to our clients.

How It Works
Towers Watsons Workforce MAPS is a hosted Internet software product. Users will have access to easy workforce reporting and benchmarks, drill-down capabilities to multiple levels of the enterprise and developing workforce scenarios. The technology is highly configurable and accommodates varying levels of workforce planning sophistication. Workforce Analytics and Planning helps your organization anticipate and deliver the talent component of your strategic business plans. Being engaged in a proactive and evolutionary workforce planning process allows your organization to begin creating the workforce of the future today. For more information about Towers Watsons workforce planning solutions, please visit towerswatson.com/hrt.

Process Sustainability Human Capital Expertise Global Knowledge and Resources Knowledge Transfer and Flexibility

About Towers Watson

Towers Watson is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. With 14,000 associates around the world, we offer solutions in the areas of employee benefits, talent management, rewards, and risk and capital management.

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