Recalibrating our Business
Financial markets took a significant hit following the warning from the UK’s Chief Scientific Advisor and Chief Medical Officer of a second wave of COVID-19.Thankfully, that does not seem to have impacted on the overall business outlook as markets bounced back. The volatility and uncertainty that we experienced in the earlier part of this year has now been replaced by a new-found confidence as organisations have learnt how to survive the pandemic and are finding their feet in a new world.
Business planning during the pandemic has, for many, been measured in days and weeks. Strengthening cashflow and pivoting to new ways of working is, understandably, focused on surviving another day. However, business leaders are now starting to return to a longer lens and consider the future.
Workforce PlanningInterest in workforce planning has risen significantly in recent months as leaders are looking to the future. Not only do they recognise the need for a workforce that is aligned to a quite different business model, but they also see that the opportunity cost of transformation has never been lower. Strategic workforce planning is allowing organisations to take action today to align and secure their longer-term ambitions. Other organisations are taking a viewpoint no further than the next financial year and are resetting budgets. Operational leaders and people professionals, in the short term, have an opportunity to be proactive and launch effective recruitment plans to provide the right capabilities for the coming year.
It is late on a Friday afternoon when the recruiter’s phone rings, it is a senior manager within business operations.
- Senior Manager: “I’d like to recruit a backfill Dave, for one of the managers in my team”
- Recruiter: “Great, when would you like them to start?”
- Senior Manager: “As soon as possible, Dave’s last day is today”
- Recruiter: “Oh *sighs*”
- Senior Manager: “I know, retired on his 65th birthday; couldn’t have foreseen it”
For many this may seem far-fetched, for countless others this will resonate as an event that could have been easily forecast and proactively managed. Many people professionals still find themselves as order takers for business operations, scrabbling around to find workers to fulfil a new immediate need.
There is another way that allows us to be much more proactive in planning recruitment which, fortunately, is relatively simple.