Workforce planning consists of aligning an organization’s financial and strategic planning processes with human capital, ensuring the right people are in the right place at the right time. However, with increasing competition for talent, organizations face continued challenges in sourcing new supplies of labor to replace departing employees or fulfill growth expectations. As such, more effective management of the internal workforce can decrease the reliance on scarce external talent and improve the flow of internal labor into key roles or job families.
One such management tool is Career Progression Analysis, a technique quickly proving to be a successful weapon in analyzing internal marketplaces for inefficiencies or potential gaps, tracking the movement of workforce segments through the organization, and identifying hot spots within current career paths.
The technique uses a modified Markov model to analyze core workforce data components, splitting them by dimensions such as gender or diversity and visually depicts insights into the health of succession pools, limitations in advancement opportunities, and the supply of internal job opportunities within the organization.
As such, models can be used to tailor retention, training, and mobility strategies, facilitate improved career-pathing, create a more compelling employment brand proposition, and improve the supply of internal labor.
During this webinar, Jeff Higgins and Paige Menge will discuss why career progression analysis is so important to an organization, showing techniques and real world examples of how the tool is foundational for successful workforce planning.
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