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What Is Strategic Workforce Planning? Strategic Planning
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It's the planning process you go through to anticipate your hiring schedule.
For example: Maybe there is a labor shortage. Or you don't get the revenue expected. Or workforce demographics are changing. Or the skill set needed is changing. Or a new development changes things.
Strategic workforce planning is planning around all these. It's trying to plan, budget and take them into account.
For example, if people deliver your services. Let's say you're a contractor. You get a big contract. You have to figure out: Who do I need to hire? What stage of the project do I need them? What do I do if I fail to find these people?
It's important because it helps you consider all those options before starting. The concept of planning is: When you fail to plan, you plan to fail.
It's impossible to predict the future. But through the planning process, you can have "if/then" concepts in place if needed. You'll be better off and faster to act if things go wrong.
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