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Workforce Planning

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Workforce Planning

1. Workforce Planning
Overview

Workforce planning is a crucial element of business planning.

Workforce planning is crucial. It is a process of forecasting your workforce needs to ensure sustained business success and growth, and deciding on strategies to attract, develop, engage and retain employees.

This section of the guide covers the following topics: 1. workforce planning considerations 2. how to undertake workforce planning.

The workforce planning checklist (page 13) contains key information about workforce planning.

Page 7
1. Workforce planning: what to consider
Workforce planning: the process of forecasting workforce needs and determining the broad range of policies and systems that will create and sustain the workforce in line with business strategy. Workforce planning assists businesses to undertake expansions, restructures, reforms or downsizes in a strategic manner ensuring that the right staff are recruited or retained to take the business forward.

The workforce plan sits beside business and financial plans as a fundamental tool in realising the goals of an organisation. These planning components go hand in hand – it would be difficult to set a goal to expand production by 20% if you were unsure how much capital investment is required or whether you could get the right skilled people.

The Territory working age population (aged 15+ years) is estimated to be around 180 700 persons in 2012 and is projected to increase to 236 100 persons by 2030, reflecting an average annual increase of 1.5%. (Source: NT Treasury Population Projections, 2011).

If you can answer some of the following questions, you are already doing some workforce planning.

Are you aware of the workforce challenges facing your industry/business as a result of competing projects, emerging industries, the ageing population and

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