May, 2018
Strategic Workforce Planning Defining the Path Forward
Internal
The nature of work is evolving
2
Traditionally stable concepts of how work is performed are being rapidly replaced by new ways of working, driven by advances in technology and the changing expectations of the modern employee
The changing reality of work now requires businesses to start
remapping their workforces to identify potential tradeoffs between:
Key drivers of change… …are creating new realities for how work is performed
Technology is
everywhere
Massive growth of AI,
cognitive, robotics
Jobs & tasks are
vulnerable to automation
Tsunami of data
Diversity, demographic,
generational change
Change in nature
of careers
Explosion in
contingent work
Current work options
Future work options Physical Proximity
Explore need for physical proximity between colleagues, workers, markets and suppliers
Automation Level
Explore opportunities for capability to be automated
Talent Category
Explore different ways to engage talent on and off of balance sheets
Internal 3
Strategic Workforce Planning is an iterative planning process that enables an organization to prepare for multiple potential scenarios as our strategy evolves
SWFP is…
A proactive and continuous process that enables the right
talent strategy and actions aligned with the needs and
priorities of the business enterprise-wide
A process to forecast current and future talent shortages and
surpluses using internal and external data
A process to determine where to allocate investments in
talent
A means to translate strategy into tangible workforce
needs and an input to organization design
SWFP is not…
An annual headcount exercise that just considers FTE
needs with no analysis of changing competencies
Short-term resourcing forecasts using only historical
workforce data
A solution to financial / budget constraints
A solution for strategy definition and organizational design
A replacement for Succession Planning for individual
positions A means to plan and manage movement into and out of
large critical workforce segments
What is Strategic Workforce Planning (SWFP)?
Internal 4
Level 0. Headcount Management
Matching of near-term resourcing requirements with financial budgets. Incorporates
business demand, workforce attrition, and demographic shifts.
Maturity of capability
Level
of
futu
re v
alu
e
Level 2. Workforce Planning & Risk Management
Five-year view of capacity and capability demand vs supply, enabled by workforce
analytics, identifying opportunities and risks to proactively shape plans
Level 3. Future Workforce Optimization
Talent and technology strategies are aligned with current and future
work requirements to provide competitive advantage.
Level 4. Workforce Economics
Linkage between value creation and business
performance is understood and continuously leveraged
1
0
4
3
Job Centric Work Centric
2
Level 1. Workforce Profiling, Segmentation &
Monitoring
Additional workforce factors layered in (e.g., job preferences,
transferable skills/experiences), with clear links to business
objectives and strategies
Mature Strategic Workforce Planning capability drives value
Internal 5
Strategic Workforce Planning workflow
At the highest-level, strategic workforce planning translates your business strategy into specific talent actions for today and tomorrow
Business Strategy Workforce Assessment Workforce Analysis Workforce Actions Iterate & Update
Define the vision for SWFP,
understand how it ties back
to business goals and gain
stakeholder buy-in
Determine the current level
of expertise against future
required skills
Forecast future demand and
internal/external supply for
critical skills and roles
Define talent actions to
close talent needs and
build our pipeline
Refresh the workforce
plan with next iteration
of the strategic plan
Key Questions
• What are the business
outcomes we want to
achieve?
• How will SWFP relate to
other key planning,
budgeting and
forecasting processes
and HR activities?
• What are you willing to
invest in successful
SWFP?
• Which roles and skills are
most critical to business
outcomes?
• How difficult are they to
replace?
• What will be expected of
these in the future?
• What level of data is
available to view different
talent segments?
• How many and what types
of resources are available
internally? Where? What is
their cost?
• Is there a deficit or surplus
in a segment?
• What is the business
impact?
• Do we need to go back and
consider other scenarios/
sensitivity in modelling?
• What actions best mitigate
risk, cost, operational and
people impacts?
• Can we alter demand?
Can we act to increase
supply?
• How do we measure
outcomes?
• What does WFP tell us
about our business plan?
Is it realistic?
• When should we
review and refresh
workforce plans?
• How can we
enable ongoing
improvement of
plans?
Internal
Diving deeper…
6
Understand
business strategy
and the WFP
requirements of key
talent segments
Identify Key Talent
Segments to target
for WFP; typically
involves roles and
skills
Customize WFP
approach to the
organization’s WFP
capacity and
capability (i.e., access
to data, reporting
tools, HRIS
configuration)
Project talent demand
based on growth
projections of
business
Define internal and
external economic
supply drivers and
assess and project
external and internal
sources of talent by
role and skill
Compare talent
supply and demand
projections to identify
talent gaps
Develop strategies to
up-skill or source new
talent internally or
externally where
required
Develop workforce
objectives and plan;
integrate WFP
processes with HR
Strategy, Finance
and Ops decisions
on an on-going
basis
Planned
Projects
Business
Strategy
Planned
Initiative
Level 1
Level 2
Level 3
Level 4 3 year Forecast
Income
Population
Expectations
Changing
Workforce
Mobility Talent Gaps
3 year Forecast
Income
Expectations
Development WFP
HR Strategy
Phase 1: Workforce Assessment Phase 2: Workforce Analysis Phase 3: Workforce Actions
Develop WFP
And Align to
HR Strategy
Develop
Talent Actions
Project Talent
Gaps
Project
Talent Supply
Project Talent
Demand
Evaluate WFP
Capacity and
Capability
Identify Key
Talent
Segments
Assess WFP
Strategy
1.1 1 .2 1.3 2 .1 2 .2 2 .3 3 .1 3 .2
Internal
• Deliver on EVP & ee
experience
• Reinforce shared
commitments
Building enterprise capabilities through People Strategy
Organization Design
• Develop organization design and operating model to enable business strategy and transformation
• Build / refresh job models to define current and future jobs and clarify job accountabilities
• Determine job levels
• Map jobs to career framework to enable employee career pathing
• Map employees to job codes
Skills & Competencies
• Identify the required knowledge, skills and competencies for the future
• Evaluate capabilities of current workforce to identify gaps against future state requirements
• Keep pulse on progress of closing targeted skills gaps
• Keep current on external capability and workforce trends
Culture
• Develop inspiring vision for business aligned to TD vision and framework
• Conduct discovery workshops to understand employee engagement and employee value proposition (EVP) more deeply
• Design and implement initiatives to address engagement opportunities and deliver on EVP
Learning & Development
• Develop training curriculum based on prioritized skill gaps identified
• Provide manager training regarding developmental planning and coaching on-the-job
• Hold leaders accountable to role model self-development
• Foster a learning culture
Reward and Recognition
• Refresh performance metrics and expectations
• Refresh market pay data mapped to new job model
• Determine premiums on different specializations
• Provide meaningful incentive and recognition programs designed to reward performance
• Clear performance expectations
• Equitable, market competitive pay practices
• Right org structure and op
model
• Clear career paths &
accountabilities
• Right numbers and types of
skills (new & legacy) to
support business strategy
• Redeploy talent where possible
• 'Buy' to fill skills gap
• Lower time-to-fill
• 'Build' to fill gap
• Build competitive differentiator
• Deliver on EVP
Outcomes
• Identify high potential and scarce talent
• Design and manage on-the-job learning opportunities
• Leverage internal talent pool to fill jobs where possible
• Manage impacted workforces
• Execute recruitment branding to attract the best talent
• Standardize and streamline job posting templates
• Proactively source candidates
Talent Management & Acquisition
A number of People Strategy dimensions can be explored to further enterprise capability development:
Internal 8
Existing
operations
analysis
Existing
workforce
analytics
Demand
forecasting
Resource
forecasting
Skill
forecasting
by projects
or operations
Skill
forecasting
by talent
segment
Predictive
modeling
Demand planning Supply planning
Ability to model multiple supply and demand predictive scenarios using
internal and external data-insight used to inform future business investment
decisions
Ability to identify and manage the skills required to maximize growth
and profitability
Ability to forecast the number of people required to
execute a portfolio of operations and projects in future
Ability to capture accurate estimates of the workforce
required to execute existing operations and projects
Ability to forecast the right people with the right skills and
competencies required to support existing and future
operations and projects
SWFP does not need to be sophisticated to add value; benefits can be gained by building sophistication over time
Internal 9
Future of SWFP: From “roles and workforce” to “activities and Op Model”
Organizations pushing the thinking on the future of workforce planning are changing the lens from “job centric” workforce planning, to “activity centric” planning in order to consider how / where technology, robotics and talent types can be leveraged
• In this model, work activities within specific roles,
functions, or across the broader enterprise are
categorized into a common language /
framework:
1. Assessment
2. Problem solving
3. Production
4. Communication
5. Supervision
• Activity categories are further distilled into sub-
categories of discrete tasks
• These sub-categories are then disaggregated, to
allow organizations to see where and how time is
being spent within specific roles, functions, or
across the broader enterprise
• This process allows organizations to identify where
opportunities may exist to automate activities
and re-define roles
1
2
3
4
1 2
Internal 10
TD's Workforce Planning Approach
A six step approach enables us to understand the capabilities profile of the current talent workforce and potential future talent and capabilities required to execute the strategic priorities as outlined in the business strategy
1. Capability
Assessment
2. Pivotal Roles and
Capabilities Validation
3. Internal Workforce
Supply
4. Internal Workforce Demand
5. External Workforce
Supply
6. Talent Strategy
• Validate pivotal roles and skills and identify current and
future talent and skills gaps which hinder the function’s
ability to execute on its strategic priorities
• Forecast internal supply and demand as well as external
supply of talent for pivotal roles over the next 3 to 5 years
using an interactive workforce planning forecasting tool
• Provide scenario analysis using selected micro and
macroeconomic variables that can materially affect the
demand and supply of talent for pivotal roles and skills
• Provide recommendations and identify quick wins on
addressing skills/talent gaps in pivotal roles
• Develop Talent Strategy (3-5 year) in collaboration with
key partners across HR and the business, covering the
acquisition, development and engagement of talent
• Prepare an execution roadmap for the Talent Strategy
together with relevant stakeholders across the enterprise
• Develop a change management plan aimed at continuing
to engage relevant stakeholders in the monitoring and
execution of the roadmap
• Plan for the sustainment of the Talent Strategy
1. What talent and
capability gaps do
we currently have?
2. What are the
pivotal roles and
Capabilities needed
to achieve strategic
priorities?
3. What is the
expected internal
workforce supply in
pivotal roles over the
next 3 to 5 years?
4. What is the workforce
required in pivotal roles
over the next 3 to 5 years
to achieve strategic
priorities?
5. Where are
other key
talent
sources?
6. What Talent Strategies
should be adopted around the
acquisition, development and
engagement of the talent
required to support its
business priorities?
Internal 11
Step One: Workforce Planning Approach
A six step approach was undertaken to understand the capabilities profile of the current talent workforce and potential future talent and capabilities required to execute the strategic priorities as outlined in the business strategy
1. Capability
Assessment
2. Pivotal Roles and
Capabilities Validation
3. Internal Workforce
Supply
4. Internal Workforce Demand
5. External Workforce
Supply
6. Talent Strategy
What talent and capability gaps do we currently
have? • Conduct Capability Assessment to determine baseline
• Analyze the results of the capabilities assessment survey
and identify current talent and skill gaps hindering the ability
to execute on its strategic priorities
• Enable the identification of trends and key takeaways from
capabilities assessment through the use of a data
visualization/analysis tool
• Provide initial recommendations and quick wins on
addressing capability gaps in pivotal roles
1. What talent and
capability gaps do
we currently have?
2. What are the
pivotal roles and
Capabilities needed
to achieve strategic
priorities?
3. What is the
expected internal
workforce supply in
pivotal roles over the
next 3 to 5 years?
4. What is the workforce
required in pivotal roles
over the next 3 to 5 years
to achieve strategic
priorities?
5. Where are
other key
talent
sources?
6. What Talent Strategies
should be adopted around the
acquisition, development and
engagement of the talent
required to support its
business priorities?
Internal 12
Step Two: Workforce Planning Approach A six step approach was undertaken to understand the capabilities profile of the current talent workforce and potential future talent and capabilities required to execute the strategic priorities as outlined in the business strategy
1. Capability
Assessment
2. Pivotal Roles and
Capabilities Validation
3. Internal Workforce
Supply
4. Internal Workforce Demand
5. External Workforce
Supply
6. Talent Strategy
2. What are the pivotal roles and Capabilities
needed to achieve strategic priorities? • Conduct interviews and focus groups with relevant
stakeholders from LOBs
• Synthesize and define roles and capabilities that are pivotal
in supporting the business achieve its strategic priorities,
1. What talent and
capability gaps do
we currently have?
2. What are the
pivotal roles and
Capabilities needed
to achieve strategic
priorities?
3. What is the
expected internal
workforce supply in
pivotal roles over the
next 3 to 5 years?
4. What is the workforce
required in pivotal roles
over the next 3 to 5 years
to achieve strategic
priorities?
5. Where are
other key
talent
sources?
6. What Talent Strategies
should be adopted around the
acquisition, development and
engagement of the talent
required to support its
business priorities?
Internal 13
Step Three: Workforce Planning Approach A six step approach was undertaken to understand the capabilities profile of the current talent workforce and potential future talent and capabilities required to execute the strategic priorities as outlined in the business strategy
1. Capability
Assessment
2. Pivotal Roles and
Capabilities Validation
3. Internal Workforce
Supply
4. Internal Workforce Demand
5. External Workforce
Supply
6. Talent Strategy
3. What is the expected internal workforce
supply in pivotal roles over the next 3 to 5
years? • Develop workforce planning forecasting tool to predict
internal labour supply in pivotal roles and capabilities across
the different group’s locations over the next 3 to 5 years
• Perform scenario analysis on different micro and macro
economic variables that can materially affect internal
workforce supply in pivotal roles over the next 3 to 5 years
1. What talent and
capability gaps do
we currently have?
2. What are the
pivotal roles and
Capabilities needed
to achieve strategic
priorities?
3. What is the
expected internal
workforce supply in
pivotal roles over the
next 3 to 5 years?
4. What is the workforce
required in pivotal roles
over the next 3 to 5 years
to achieve strategic
priorities?
5. Where are
other key
talent
sources?
6. What Talent Strategies
should be adopted around the
acquisition, development and
engagement of the talent
required to support its
business priorities?
Internal 14
Step Four: Workforce Planning Approach
A six step approach was undertaken to understand the capabilities profile of the current talent workforce and potential future talent and capabilities required to execute the strategic priorities as outlined in the business strategy
1. Capability
Assessment
2. Pivotal Roles and
Capabilities Validation
3. Internal Workforce
Supply
4. Internal Workforce Demand
5. External Workforce
Supply
6. Talent Strategy
4. What is the workforce required in pivotal
roles over the next 3 to 5 years to achieve
strategic priorities? • Use workforce planning forecasting tool to predict workforce
demand in pivotal roles over the next 3 to 5 years
• Conduct scenario analysis for selected micro and macro
economic variables that can materially affect demand of
talent in pivotal roles over the next 3 to 5 years
• Develop gap analysis and provide recommendations to
mitigate any workforce gaps
1. What talent and
capability gaps do
we currently have?
2. What are the
pivotal roles and
Capabilities needed
to achieve strategic
priorities?
3. What is the
expected internal
workforce supply in
pivotal roles over the
next 3 to 5 years?
4. What is the workforce
required in pivotal roles
over the next 3 to 5 years
to achieve strategic
priorities?
5. Where are
other key
talent
sources?
6. What Talent Strategies
should be adopted around the
acquisition, development and
engagement of the talent
required to support its
business priorities?
Internal 15
Step Five: Workforce Planning Approach
A six step approach was undertaken to understand the capabilities profile of the current talent workforce and potential future talent and capabilities required to execute the strategic priorities as outlined in the business strategy
1. Capability
Assessment
2. Pivotal Roles and
Capabilities Validation
3. Internal Workforce
Supply
4. Internal Workforce Demand
5. External Workforce
Supply
6. Talent Strategy
5. Where are other key talent sources? • Analyze labour market supply across respective international
locations
• Use workforce planning forecasting tool to predict workforce
supply in pivotal roles and capabilities across all main
locations
1. What talent and
capability gaps do
we currently have?
2. What are the
pivotal roles and
Capabilities needed
to achieve strategic
priorities?
3. What is the
expected internal
workforce supply in
pivotal roles over the
next 3 to 5 years?
4. What is the workforce
required in pivotal roles
over the next 3 to 5 years
to achieve strategic
priorities?
5. Where are
other key
talent
sources?
6. What Talent Strategies
should be adopted around the
acquisition, development and
engagement of the talent
required to support its
business priorities?
Internal 16
Step Six: Workforce Planning Approach
A six step approach was undertaken to understand the capabilities profile of the current talent workforce and potential future talent and capabilities required to execute the strategic priorities as outlined in the business strategy
1. Capability
Assessment
2. Pivotal Roles and
Capabilities Validation
3. Internal Workforce
Supply
4. Internal Workforce Demand
5. External Workforce
Supply
6. Talent Strategy
6. What Talent Strategies should be adopted
around the acquisition, development and
engagement of the talent required to support its
business priorities? • Develop target state talent and capabilities requirements
• Facilitate the development of a Talent Strategy with
collaboration of key partners across HR covering the
acquisition, development and engagement of talent in pivotal
roles
• Develop execution roadmap in collaboration with relevant
stakeholders across different LOBs including initiative
sequencing, milestones and dependencies
• Draft change management plan to enable the implementation
of the roadmap and continue to engage relevant
stakeholders
1. What talent and
capability gaps do
we currently have?
2. What are the
pivotal roles and
Capabilities needed
to achieve strategic
priorities?
3. What is the
expected internal
workforce supply in
pivotal roles over the
next 3 to 5 years?
4. What is the workforce
required in pivotal roles
over the next 3 to 5 years
to achieve strategic
priorities?
5. Where are
other key
talent
sources?
6. What Talent Strategies
should be adopted around the
acquisition, development and
engagement of the talent
required to support its
business priorities?
Internal 17
Activity: Worksheet
While thinking about the area you lead/support/partner with, please provide your initial reaction to the following questions:
1. Capability Assessment
2. Pivotal Roles and
Capabilities Validation
3. Internal Workforce
Supply
4. Internal Workforce Demand
5. External Workforce
Supply
6. Talent Strategy
0. What capabilities are critical to the future success of your business/ function?
1. What capability gaps do you currently have?
2. What are the pivotal roles and Capabilities needed to achieve strategic priorities?
3. What is the expected internal workforce supply in pivotal roles over the next 3 to 5 years?
4. What is the workforce required in pivotal roles over the next 3 to 5 years to achieve strategic priorities?
5. Where are key talent sources?
6. What Talent Strategies should be adopted around the acquisition, development and engagement of the
talent required to support its business priorities?