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This comprehensive tool kit provides essential elements and analytics for strategic workforce planning, including risk indicators, business drivers, risk events, and potential impacts. It offers resources for assessing readiness, attrition modeling, and HR data analysis.
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Workforce Planning Workforce Analytics Tool Kit
Managing WFP Risk • What are your Key Risk indicators • % of attrition by job • % eligible to retire • Ave age of employee • Ave years of service • Ave time to fill critical positions • Ave training lead times • % of empl completing training • What are your Business Drivers • Qualified workforce • Process efficiencies • Budget/Financial • Effectiveness use of talent • Organizational performance • Safety objectives • Leadership effectiveness • What are your Risk Events • Knowledge deficiencies • Insufficient skill sets • Equipment failures • Unplanned outages • Regulatory oversight • What are your Potential Impacts • Financial/Earnings • Safety • Staffing • Customer • Business Performance
Workforce Analytics– Assessing Readiness • Does the organization have a dashboard or information that focuses on projected attrition by organization and/or critical jobs? • Does your organization have a 5 year hiring plan? • Are the projected staffing needs instilled in the line organization? Does the line own the data? • Has the organization implemented a comprehensive knowledge risk assessment process and is it linked with their workforce planning analytics?
Overview of Attrition Model Sources of losses (outflows) Sources of additions (inflows) Employees Out Employees In Projected StaffingLevel __________ • By type or classifications Current Staffing Levels_____________ By type or classifications • Transfers out (Migration out) • Attrition (HR Model) • Terminations • Retirements • Leaves (LTD) • Plan Org Change • Transfers in (Migration in) • New Hires • Training Programs • (Apprenticeship, Operations, Technicians, Engineering,etc) • Re-Hires Projected Outflows in a year Projected Inflows in a year Projected Staffing Level - + = When evaluating the impacts on the sources of losses and additions, consider the CEWD Game Changers affecting the business planning process
Game Changers External • Grid Modernization • Generation Mix / Carbon Management • New Build • Regulation / Policy changes Internal • Aging workforce • Mergers / Acquisitions • Significant Organization Decision – Outsourcing • Adoption of New Technology
WFP Analytics Process • Benefits • Know the organizations retirement criteria, including retiree health care impact. • HR System • Understand HR data elements and how the data is managed in the HR System. • Data Analysis • Perform data analysis (forecasting) based on historical trends and appropriate modeling. • Data Segmentation • Segment data into meaningful groups so that logical conclusions can be obtain. Workforce Plan • Workforce Planning Analystics • Development of a 5 to 10 year future workforce plan. • Meaningful historical data analysis for business decisions. • Linkage to other organizationals business plans.
Data Elements to Consider • Demographics • Gender/Ethnicity/Age • Veteran status • Job code / Job title • Job family / feeder data • Union status / Seniority • Department ID or Name • Outflows • Transfers out (Migration out) • Retirements (age, tenure) • Leaves (LTD) • Terminations - Date and type • For-cause • Voluntary/Involuntary • Reduction-in-force • Planned organizational changes • Inflows • Transfers in (Migration in) • New hires - Date and type (Entry, Experienced) • Job change date/reason • Training Programs • Completion rates • Training timetables • Re-hires
Retirement Criteria Know your organizations retirement plan combinations This will be needed to help develop your retirement forecast • Rule of 80 (age plus tenure) • Age and Years of Service Combination • Health care plan impact • Social security impacts/off sets • Average age/service of retirement by job/department/company • Savings plans impact (e.g.401K)
Segment Data by Types • The most common segmentation of historical data by type is: • Retirement • Voluntary Separation (non-retirement) • Involuntary Separations • Headcount • This can be broken down by: • Total organization • Business unit/department • Job groups
Segment Data by Types • The tables below are two different methods in illustrating data for: • Headcount • Headcount with retirement eligibility by job title • These methods are useful to show how retirement eligibility impacts current staffing. By providing percent eligible for retirement the organization can clearly see the impact on pending retirements Headcount
Segment Data by Types • Another common data segmentation are illustrations or tables showing • Years of Service or Tenure • Age of Population • These can be displayed by either total company and/or organizational unit Years of Service Or Tenure AGE
Segment Data by Types A preferred method to illustrate Age and Years of Service is to create a table similar to the illustration above. In this illustration highlighted cells of the table show eligibility for pension with health care and that group without health care. The years of service and age cohorts are dependent on your organizations benefit plan.
Examples of Segment Data by Types History - Retirements History - Hires History – Attrition (not retirement) History – Hires by Job Title
CEWD WFP Metrics Data elements should link to the CEWD Key Performance Indicators (KPI) and Critical Success Factors (CSF). These metrics will support state consortia and national reporting by CEWD.
Additional Tables to Consider • Table of Age and Years of Service • Table of Average Age and YOS by Dept. and/or Job Family • Table of Ethnicity and Gender (percent of total population/hires) • Table of Veterans (percent of total population/hires) • Table of Jobs Family and percent eligible to retire • Table of historical hires by job family, department, company, or key organizational level • Table of historical terminations by job family, department, company, or key organizational level • Table of turnover for new hires (less than 1 or 2 years of service) • Table of entry level hires by total hires • Table of promotions by job family • Time to hire table for critical positions or job families • Table of completions for key training programs • Table of ready now candidates for key positions • Table of Span-of-control and levels of leaders • Table of actuals retirements to eligible retirements
Attrition Forecast Model Sources of losses (outflows) Sources of additions (inflows) Employees Out Employees In Projected StaffingLevel __________ • By type or classifications Current Staffing Levels_____________ By type or classifications • Transfers out (Migration out) • Attrition (HR Model) • Terminations • Retirements • Leaves (LTD) • Plan Org Change • Transfers in (Migration in) • New Hires • Training Programs • (Apprenticeship, Operations, Technicians, Engineering, etc) • Re-Hires Projected Outflows in a year Projected Inflows in a year Projected Staffing Level - + =
Job Feeder Analysis Other Jobs In Org 25% Training Programs 50% Entry level jobs 2 & 4 Yr Colleges Org changes impact Tech Institutions In house apprenticeships Peer level jobs Electrical Tech Mid-career hires from within industry Hires from other industries Contractor hires To understand the impacts of movement into and out of a job or job family, a job feeder analysis should be conducted. Consider the following model when performing this analysis. Experienced Outside Hires 25%
Perform Data Analysis • Develop probability of terminations by type (see forecast model) • Retirements • Non-retirements • Other • Develop assumptions based on a 5 year historical view of attrition using data elements • Job type/Job family • Department/organization • Pension plan parameters • Forecast using a regression analysis or some type of probabilistic tool (e.g. SPSS or SAS) • Test forecast assumptions using historical data • Carry forecast out 5 to10 years by key data elements such as job family, department or company Good NEWS!!!! There are Vendor Tools that can do this work!!!!!
Vendor Considerations Do the vendor operations align with the organization’s business objectives? Does the vendor have a robust query tool to provide ad hoc reporting? Does the vendor have tools that will display organizational data elements in a format suitable to the business needs? Does the vendor modeling tool properly reflect historical trends for headcount, retirement and non-retirements? Does the vendor provide customer service levels as required by the business? Do the vendor data security requirements meet organization’s business needs? Does the vendor offer ability to project hires by the data elements needed by the organization (e.g. job title, department, organizational level)? Does the vendor tool properly manage segment organizational data? Does the vendor meet the long-term growth needs of the organization’s objectives? Does the vendor have a good reputation for delivering the product in a timely matter?
Workforce Planning Dashboard For illustration only
Long-Lead Hiring Analysis The segments in the graph could represent job families or department level organizations depending what is being presented.
Key Points to Consider Any dashboard or reports must be relative to the organization’s business objectives. All data must be clearly understood and help the organization understand data in a simplified format. Data and results must be validated, using bad data or wrong data will impact the organization’s trust and creditability. All data must tell a “story” or “paint” a picture of relative information. Do not over produce reports/tables/graphs that take away from the relative facts/findings being reported. Test the reports and results/conclusions with peers before presenting to the organization. Document the analysis, so that it can be replicated and provides sustainability to the process. Let the Strategic Workforce Planning Model guide the reporting of data.
