Manpower planning and talent management

 

Aim

To understand manpower planning and talent management

Manpower planning

What is MPP?

Manpower planning is a process to know the organizational skill requirements, assess current strength and plan to get additional resources, if needed.

Objectives of MPP

• accurately forecasting requirements, so that overstaffing or understaffing is avoided
• proper allocation of existing employees
• Changes happens at all levels. Handle such changes through proper planning
• skill gap is difference between future requirements and the existing skill sets. Planning is needed for training, recruitment.
• training current employees with new skills will reduce recruitment, training cost
• Management is better equipped with sufficient data to make decisions.

Process of MPP

Here we discuss about how manpower planning is executed.

• Initial task is to understand the organizational goals. Our aim should be to align the goals with the workforce.
• So, the next process would be to assess the workforce. The skills and strength are considered.
• Based on organization goals, we can predict the requirement in future. Factors influencing the requirement are business growth, technology trend, and market condition.
• The above three points are considered and a gap in requirement is deducted. Shortages, surpluses, improvement are identified.
• Designing and implementing plan for recruitment, training, succession planning. Budget, timeline are allocated.
• The plan is reviewed periodically and ensured expected result is obtained. Feedbacks are used to correct course of action, if needed.

Obstacles and factors affecting MPP

There are different factors influencing MPP. We can broadly classify them as internal and external factors.

Internal factors

• Organizational goals would require expansion, downsizing. Different skills might be needed for varying requirement.
• Existing workforce pattern would influence the direction of MPP
• The budget set for a particular work has an impact on various planning activities. Prioritization is necessary when resources are limited.
• Availability of technology and infrastructure improves the performance of the team.

External factors

• When the economy is positive, increased level of hiring takes place. On the other hand, recession might lead to downsizing or freeze.
• Availability of skilled labour determines the course of hiring and re-skilling.
• Technical changes would instill changes in the organization.
• Labor laws, minimum wage policies, and compliance requirements impact workforce planning.
• Competitors' movement can affect the way business is run.
• Apart from these factors, inaccurate data collection or processing would lead to invalid information.
• Miscommunication between management, HR and employee could lead to inefficient process.

Conclusion

With these thoughts, we conclude the discussion on Manpower planning.

Talent management

What is talent management?

TM is an approach of attracting, developing, retaining and optimizing the people. By making sure right people are in the right roles, with the required skills and motivation, success of organization is acheived.

These are the important aspects of TM.

1) Talent acquisition

• Understand organization's goals and culture
• Based on skill gaps, identify the requirements, attract right set of people, hire right skilled individuals.

2) Onboarding

• Ensure smooth transition for the new hire
• Arrange for orientation programs, mentorship opportunities and role specific training.

3) Learning

• continuous upskilling and professional growth are given importance
• Includes training programs, leadership development initiatives, and career planning

4) Performance management

• set goals, monitor the progress, give feedbacks
• align employee's tasks with organizational goals

5) Succession planning

• prepare employees for leadership roles
• provide training for employees with potential leadership qualities

6) Retention

• provide a positive work environment
• job satisfaction, career advancement opportunities, and work-life balance is given importance.

7) Diversity and inclusion

• equal opportunities of diverse backgrounds
• enhance collaboration and innovation through inclusivity

Why we need TM?

• Well trained employees increases productivity. They lead to company goals faster.
• employees prefer to work for an organization that has a good talent management framework. That attracts skilled professionals.
• Retention plans reduce the employee turnover. That reduces cost for the company, in terms of hiring, training.
• Innovation, customer satisfaction, and profitability are achieved by skilled and motivated workforce
• Upskilling programs help in facing future challenges and opportunities in a smooth manner

As a college student, what does talent management means to you, and how you can use it to your career improvement?

• Companies like to meet people who have talents. Develop hard and soft skills. That will help you to stand apart.
• TM involves performance review, goal settings and feedback. Proactive and flexibility will take you to higher plane.
• Take advantage of mentorship, training programs, leadership development initiatives.
• Building a personal brand helps. Develop such positive image through internships, projects and professional networking
• In this modern dynamic workspace, being open to new roles, technologies and skills is essential. Strive to keep learning.
• Participate in group activities or clubs to develop essential skills like teamwork and interpersonal skills.

Conclusion

Aligning yourself with the thoughts of talent management is not only for entering into workforce, but it helps in a long run of advancing to a great height in the career ladder. By focusing on skill development, aligning with potential employers’ TM practices, and being adaptable, students can position themselves as valuable assets in a competitive job market.