3 Reasons to Deploy Workforce Planning for Workday in 2020

Category: Workday HCM Posted:Oct 01, 2020 By: Robert

In today’s world, skills are a form of currency. This is due in part to the gig economy but also to the fact that today’s total workforce is more informed than at any other time and has more options.

Within this environment, organizations need to be strategic about their hiring process, because hiring the right people for the right role at the right time is part of what offers companies a competitive advantage.

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But being strategic about your hiring process requires the key stakeholders across the organization to be completely equipped to anticipate the current hiring requirements, but also those ahead as their company’s strategy for success evolves.

For companies using Workday, Workforce Planning is the tool that offers teams what they need to act more strategically. Below are the 3 key factors your company need to consider deploying Workforce Planning in 2020.

1. Workforce Planning Offers Stakeholders Full Visibility to Important Information

To work with the right people, you need to have a complete picture of where your gaps are. You also need access to business-specific patterns and insights, and finally, you need to have a picture of how much you anticipate to invest in headcount for the year.

But it’s not enough for this information to only be available to one department. All stakeholders– from Human Resources and financing to the relevant hiring managers– need to have a central area for accessing this critical information. And that’s what Workforce Planning offers.

2. Greater Visibility Encourages Collaboration 

Since Workforce Planning offers all relevant stakeholders access to the same info, it’s possible for the hiring process to become more collaborative. And that’s how it should be, right? Unless a company is extremely small, hiring new employees isn’t going to fall on the shoulders of just a single person. It’s a process that will draw in members of HR, finance and specific hiring managers.

Without a tool like Workforce Planning, it’s all too common for these groups to become as well siloed. Workforce Planning encourages teams to moved beyond those siloes to meet their company’s strategic objectives.

3. Visibility and Collaboration Make Business More Agile

Together, visibility and collaboration are the ingredients that enable organizations to be more active, especially when it comes to the hiring process.

Remember that skills are a kind of currency. To build a good team, you must be prepared to strike while the iron’s hot. Anything that slows down the hiring procedure is most likely to make it hard to build a that competitive workforce you’re looking for. But with the ability to collaborate around a set of shared data, you have the liberty to relocate when the time is right.

Plan, Implement and Analyze With Workforce Planning

Does your organization wish to do more to improve its hiring technique in 2020 and beyond? If so, you need to be considering how Workforce Planning can bring teams together to hire more effectively.

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