Workforce Analysis | What is Workforce Analysis in HRM? | UBS
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Workforce Analysis

What is Workforce Analysis?

Understanding your organization’s strengths, weaknesses, and future needs concerning its workforce is essential for making staffing decisions. Conducting a workforce analysis will help you do all that.

Workforce analysis is the process of collecting, analyzing, and interpreting data to assess the current status of the workforce and convert it into actionable information which organizations can use to plan to meet their future needs. The current supply of workers is compared to the anticipated future needs. Organizations can then address any identified gaps with an appropriate solution.

The goal of a workforce analysis is to maintain the right staffing levels for the achievement of key competencies, effective succession management, cost optimization, agility, and resilience. When the supply and demand of workers and talents are properly identified, predicted, and timed, these goals can be attained.

Benefits of Workforce Analysis

  • Reduce the cost associated with recruitment
  • Have a higher employee retention rate
  • Improved Workforce management

Things to look for during a workforce analysis

During the workforce analysis, employers must be looking for ways to:

  • Include adjustments for workforce changes
  • find, secure, and train successors
  • drive faster flexibility in an ever-changing work environment
  • Determine future staffing needs in number as well as skills
  • Cost reduction by optimizing the workforce as per the abilities and automation.

Also, See: Workforce Planning

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