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Demand Forecasting: Is your workforce future-ready?

As companies come under increased pressure to drive digital
transformation, demand for future-facing skills and competencies will also rise sharply.

Research

Photo by @BeautyStars via Twenty20

Unleash Your Workforce Why effective demand forecasting and capacity planning will be crucial for success as competition for talent heats up.

  • Professional services can be particularly vulnerable to the volatility, uncertainty, complexity, and ambiguity (VUCA) of their markets.
  • Many businesses that are unable to accurately predict and prepare for future talent requirements rely on over-utilization to address the challenges of VUCA.
  • Many businesses attempt to use spreadsheet-based approaches to drive their forecasting and planning processes. However, spreadsheets are a poor fit for the complex calculations required to create an accurate forecast.

For businesses, the challenge is to onboard, retain and develop the talent to compete in a data-driven world. However, many organizations lack a clear view
of the skills and headcount required to capitalize on new opportunities.

What does the future look like? Which skills are hot and trending? Is the workforce strategy aligned with supply and demand for talent? Without a mature approach to demand forecasting and capacity planning in the human resources function, established enterprises will be unable to answer these types of questions – putting them at a significant disadvantage to nimble market entrants.

In this eBook, Retain International consider the risks associated with ineffective
demand forecasting and capacity planning, identify the ways in which legacy tools can stand in the way of true insight, and show how businesses can prepare their workforces for the demands of the future.

Satisfying all these constraints can quickly turn into a complex optimization problem. In this eBook, we’ll take a deeper dive into resource planning, and explore how to create an operational model for resource utilization that genuinely optimizes return on investment.

You can also check out advice for Creating a data-driven approach to compete in tomorrow’s talent marketplace from Retain here.

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