Workforce and Succession Planning
Knowing the Talent Pool: Who is Available
What is the available talent pool for the needed KSAs/competencies? Where will employees be sourced from to staff the functions? What does data on the current workforce tell you about the likely availability of qualified people when you need them?
Identifying your talent pool involves conducting an inventory of your current workforce or segment of the workforce, as appropriate to your scope, and determining what the supply will be after projected attrition. Using the NYS Workforce Management Reports and Workforce Analytics, including the report functionality within NYSTEP, HR Directors can measure historical attrition by title, occupation, location etc. This information can be reported based on various time horizons including pay period, fiscal year or calendar year. The reasons for attrition such as transfer, resignation, promotion, etc. can also be identified in these reports. The above mentioned tools can provide insight into potential retirements based on the age and years of service of employees in the work unit for which you are doing your planning.
- Apply the estimated attrition rates to the current workforce numbers to project the future talent pool size for your planning horizon. Estimated attrition rates should recognize a number of variables, including demographic factors such as the aging of the workforce and historical patterns of attrition, keeping in mind that past attrition may not be an accurate predictor of future attrition.
- When determining the existing talent pool, compare the projected number of vacancies with the projected demand to determine the number of staff needed by title or skill sets/competencies by organization, location, etc.
When determining the available talent pool, consider the following:
- What are the existing employees' KSAs/competencies based on their titles? What are the employee-specific competencies, including those that fall outside of normal duties, for instance an employee who speaks a second language or has graphic design skills as a result of a second job? Are there any performance issues with the current talent pool?
- What are the demographics of the scope area competencies (i.e., titles, grade levels, organizational structure, retirement eligibility, etc.)?
- What are the attrition rates for each in the aggregate and by category such as retirement, resignation, death, external transfer, or interdepartmental promotion?
- What are the projected attrition rates, factoring in your assumptions about the variables involved, such as the likelihood that certain employees will retire?
- Based on the existing demographics (age, service) and projected attrition rates by title/competency set, what will the future composition of the workforce be without factoring in any hiring?