As several organizations conduct layoffs and job cuts, it reinforces the importance of strategic workforce planning and one tool it relies on: scenario planning (SP). SP is a practice that helps organizations envision, describe, and plan for possible but uncertain and alternative futures they may face. These scenarios are informed by factors such as economic growth, …
Strategic workforce planning (SWP) continues to be elusive for many organizations. According to a Boston Consulting Group (BCG) study of 32 HR and talent practices, SWP is among the top three practices with the most significant gaps between the importance organizations place on the capability and their ability to deliver it effectively. And while there are various …
As organizations prioritize strategic workforce planning (SWP), scenario planning can help improve the effectiveness of their SWP efforts. Scenario planning (SP) helps envision, describe, and plan for possible—but alternative—futures an organization may face. These scenarios are generated by considering factors such as economic growth, labor market conditions, and the introduction of new technologies, to name a few. …
As inflation persists, workers’ real wages and buying power continue to decline despite wage growth. In the U.S. alone, consumer inflation is up 8.6% in May 2022 compared to May 2021—its highest level since December 1981. And with little signs of this trend slowing down soon, organizations are increasingly concerned about the impact inflation will have …
Many organizations increasingly recognize the importance of strategic scenario planning (SSP) in light of the pandemic. SSP is a tool that helps organizations envision, describe, and plan for possible–but alternative futures an organization may face. SSP enables firms to prepare for uncertainties, considering such factors as the amount of economic growth, labor market conditions, and …
As mentioned in several posts over the past few months, scenario planning (SP) is a tool designed to help organizations plan for uncertain futures. And while SP has been used heavily in industries, such as Oil and Gas, whose performance is “vulnerable to major economic, social, political, and environmental shifts,” COVID-19 has made SP a priority for …
While HR leaders continue to help their organizations manage through the recovery phase of the pandemic while planning for the future, I continue to get requests to share resources on scenario planning (SP). This step-by-step guide by Gartner allows practitioners to use (SP) to develop scenarios, identify the risks and impact of each scenario, and …
In this 25-minute podcast, Peter Scoblic provides ideas on scenario planning (SP) through lessons from the U.S. Coast Guard. Peter mentioned that too many companies are short-sighted in their strategy-making and don’t adequately plan for different potential futures. Rather than use SP in times of crisis or as a one-off exercise, he argues that firms …
As HR practitioners continue to lead their organizations through the recovery phase of the pandemic and beyond, this workbook provides a useful tool for organizing and capturing strategies and tactics. Three phases of the crisis provide the foundation for this editable PDF. 1) Respond – dealing with the present situation and managing continuity, 2) Recover – learning and emerging …
Organizations continue to adjust their business strategies and strategic plans amidst the COVID-19 crisis. To support these efforts, many organizations are turning to strategic scenario planning (SSP)–an approach that helps envision, describe, and plan for possible–but alternative– futures an organization may face. While these plans are often developed at the enterprise/corporate level, functional leaders are increasingly asked to …
Copyright ©2023. All Right Reserved.