An analysis is defined as a detailed examination or inspection of something that is believed to be complex or has complex processes but may also be applied to other things worthy of being studied. An analysis is performed so that one can understand the nature of something complex so that they will be able to identify its essential features. Check sample performance analysis reports for more information on how to write performance analysis of your workforce.
Conducting a thorough study is one way that an analysis can be done successfully, and produce useful and reliable information. Companies conduct analysis in various work areas to help them determine which areas to improve on, how to make improvements and find solutions to certain problems. The workforce is one of those areas that companies focus on.
Workforce Analysis Template
Monitor the increases and decreases in your company workforce by analyzing how such workforce changes affect the overall company performance with the use of the above workforce analysis template. It can be easily edited to suit all your likes and requirements. Take a look at the HR SWOT analysis samples & templates that are available online on our website for more help.
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What Is Workforce Analysis?
The labor force or the working members of a company is referred to as its workforce. The term workforce can mean different things based on how it is used or who it refers to. As mentioned, the workforce of a company is its employees and all other working members who are part of it, excluding the employers and the management. Break-even analysis can be of great help to you in case you are creating a breakthrough in your budget.
In most cases, the workforce generally refers to those who are involved in physical labor. In a country, the workforce refers to both its employed citizens and unemployed citizens. The workforce may also mean those individuals or people who are available for work.
In companies or workplace setting, a workforce company analysis is conducted to plan for the proper allocation of its available workforce. Workforce analysis is said to be the foundation of a good workforce plan. Through a workforce analysis, companies are able to determine the number of people and skills they have available for work, which allows them to forecast future work trends. This, in turn, helps them allocate the right number of people needed for a certain shift and provide the required number of skilled individuals on that same shift or work hours.
There are many uses of workforce analysis and they are as follows:
- Companies are able to identify the current number of people of employees that they have available and identify future workforce supply demands.
- A workforce analysis helps companies identify their future needs in the labor, skills, and competencies of their employees.
- It is used to identifying any gaps between a company’s current supply and future supply, as well as gaps between their current demand and its current supply. Through the identified information, an action plan to reduce the gaps can be created, tested and implemented.
- The analysis is also used by companies to gather essential information that will help them to create a strategy that can help them resolve workforce issues or strategies that will allow them to achieve their long-term and short-term goals.
The workforce of a company makes up more than half of its total population, which makes it possible for them to operate large scale businesses the way they want to. That is why workforce analysis is important. Try out the root cause analysis templates to understand better on what to do for issues that might have a tough solution.
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How Does It Work?
So how does a workforce analysis or vendor analysis work? A workforce analysis follows a specific process that makes it possible to do things in an organized manner to produce reliable information. The process involves four distinct phases or steps and they are referred to as the supply analysis phase, the demand analysis phase, the gap analysis phase and finding the solution to identified issued.
Step 1: Supply Analysis
The very first step or phase in the workforce analysis process is the supply analysis phase. This is where the currently available resources are evaluated, which consists of determining the internal and external talents within the company, and the skills and competencies that each member of the workforce has. Take a look at behavior analysis templates for more details and information. In a supply analysis, the inputs and outputs of a process are reviewed to help companies assess the effects or the changes that it can bring about to the demand for workforce and other related issues.
Step 2: Demand Analysis
In the second phase or step of the workforce task analysis, the future needs of the company are being considered. Here, the future needs of the company are reviewed and evaluated to be able to prepare for the changing workload needs by the company as well as changes in the level of staffing. Determining the demand for workforce skills and competencies allows the company to provide the required supply to maintain balance in performing work processes.
Step 3: Gap Analysis
The gap analysis phase is done to identify gaps in the supply and demand gaps in the workforce, specifical gaps between current supply and future supplies and gaps between the current demand and future demands. Identifying both supply and demand lets the company identify their needs to be able to carry out the processes within the company. Gap identification and analyzation play an important role in preparing companies for what will possibly take place in the future.
Step 4: Finding the Solution
Now, once all of the details and information are gathered, they are put together and integrated into the companies systems and processes to help find a solution to the identified issues relating to their workforce. These issues could be anywhere from staffing needs, employee training and development and hiring new skills and talents to complement the ones you currently have within the company.
If you are still stuck on how to create the right analysis, you can take a look at the steps in what is an analysis to understand better.
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Uses of a Workforce Analysis Template
A workforce analysis template is a template that is specifically created for use when conducting a workforce analysis and gathering the required information. The following are some of the notable uses of a workforce analysis template. A thorough workforce analysis will yield good results that the company will surely find useful in their workforce management. You may also want to check out other useful and related analysis articles.
- One of the main reasons why a workforce analysis template is used is because it is a very convenient tool that provides just about everything that you need when conducting a workforce analysis.
- The template is used to record the data or information gathered during the analysis, as well as document the details of the entire workforce analysis process.
- Step by step instructions and guide questions are also included in a workforce analysis template that makes it easy for anyone to do the job that they are tasked with.
- It is also used to ensure that all the required and needed information for the analysis are included. This way there will be no missing information that will delay the entire analysis process.
- The template is also used to save time and to make the job easier and more convenient. This way they can give focus to the workforce analysis at hand and rid themselves of tasks like designing and preparing the template. Check sample job analysis reports for more.
How to Edit a Workforce Analysis Template
Need a workforce analysis template, but don’t have enough time to make one from scratch? Well, you don’t have to worry as you just need to edit an already existing workforce analysis template. Is that even possible? Of course, it is! All you need are the right resources and some simple steps to guide you through the entire process, and we will definitely help you with that!
- The first thing that you would want to do is to look for a template that best fist your needs or one that is similar to your needs. It does not have to be exactly what you need if there aren’t any. We are making changes to it anyway so something close or similar is fine.
- Take note of the application that it is compatible with. So that you can edit a template, you will need to download one that is compatible with the application that you have available on your device.
- After successfully downloading the template of your choice, go to the folder where the files were saved and then double click to open it.
- The template sheet will be displayed on your sheet once it has been successfully opened. What you would need to do next is to check it and read its contents. By doing so, you will be able to determine which items you do not need and where to add items that you need.
- So after finishing the process, take a view of the template and know that it’s time to get editing. Go to the part of the template that needs changing or removing. Highlight the word or words that you want to remove and change. If it is a blank space, simply click on it and you will see a blinking line. To delete the highlighted part, press the backspace button or directly type in the word or words that you wish to change it into.
- Do the step above to the rest of the document that needs changing or editing. It is best to work on it from top to bottom, this way you will have an organized way of editing and prevents you from missing any parts.
- After all of the changes have been done, you will need to review your work and see if you still need to change anything.
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Steps to Efficient Workforce Planning
Workforce analysis is a process on its own, but it is also part of a bigger process called workforce planning. What is workforce planning? It is a plan used by companies to ensure that they have the right people who have the right skills and competencies at the right time and place. It is important that a workforce plan is in place as a company may fail or experiences losses with the lack of this plan. There are five main steps in workforce planning and they are the following.
1. Strategic Planning
The workforce that you need will depend on the strategic plan and goals of your company. These factors both affect and determine the number of the workforce needed when they are needed and what skills or competencies should they possess. The strategic plan of your company will best help you start your plan. Coordinating with other teams and managers will also be a great help.
2. Workforce Analysis
The next thing to do is to analyze the workforce that you currently have. Here you can compare the actual number of workforce you have versus how many you need, with the required skills and competencies. This way you will be able to determine the exact number of additional workforce to add to your company. Check quantitative risk analysis templates for more details.
3. Action Planning
Now that you have identified the number of the workforces needed and other issues related to the supply, demand, and gap in your workforce, creating an action plan appropriate for the identified issues come next. Base your action plan on the data that you have gathered on the first two steps to ensure that your action plan is appropriate and that it addresses the identified issues.
To bring your workforce plan to life, you will need to coordinate with other teams and departments within the company, especially those who are directly involved or affected by the plan. The budget allotted for the implementation should also be discussed with the accounting or finance department. It is important that everything is well coordinated to ensure that the implementation of the plan is successful.
5. Monitoring, Evaluation, and Revisioning of the Plan
The implemented plan needs to be monitored so that its effectiveness can be evaluated. This also allows you to identify the weaknesses of the plan, which you can revise or improve to get better and more desirable results.
Following the right procedure in planning workforce planning, as well as other types of plans increases the possibility of success than failures. It also makes the entire planning process organized and systematic.
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