The current state of workforce planning technologies
Earlier, the HR departments worked with Performance and Potential Matrix — the nine-box matrix or HR3P matrix, that displayed employee performance and potential in a single model. Today it is a doubtful approach since it evaluates the people too judgmentally. But can you imagine that… (Global Talent Trends Report 2020)
Two in five HR leaders don’t know what skills they have in their workforce today.
Sadly, not all companies have the HR process fully automated. Many still do not have an automated data warehouse and have to extract, process, and manually put together the data. That is much slower and risks losing important information.
It demonstrates, to assess the performance, potential, and future-orientation of your employees, you have better start using a smart workforce planning tool — HR dashboard. It is the most real, applicable, and effective tool for reflecting the existing skills, revealing the hidden talents, and forecasting your employees’ future needs.
On a conceptual level, an HR dashboard is filled with data from various sources, such as the payroll system, candidate tracking system, and other information systems used in HR. Based on this information, HR metrics are calculated and displayed. This data is then extracted; information is transferred and uploaded to a data lake or data warehouse. Finally, a specially designed software uses this information for reporting.
A quick test, let’s say you are a CEO. Can you answer three questions in 17 seconds as clearly and concisely as possible? — What percent of your workforce work for your long-term business goals? What amount of employees need to be up-skilled? How many people do you need to hire in 5 years? We tell you.
60% of companies say they need to improve workforce planning capabilities. And 25% of companies expect automation to lead to the creation of new roles in their enterprise.
World Economic Forum