Why work force planning is critical to your business and How Human Resource HR Outsourcing can add value?

Strengthen workforce planning
October 25, 2012

SINGAPORE: Business leaders in Malaysia need to prioritise workforce planning in order to meet future human capital challenges, says Randstad’s World of Work Report 2012/2013.

This year’s report gathered the feedback and opinions of 533 people (including 303 business leaders) in Malaysia. The research is part of Randstad’s annual Asia Pacific study of more than 9,800 people to understand the human capital challenges shaping workplaces yesterday – and into the future.The research found the top human capital challenges for business leaders in Malaysia were attracting new talent (25 per cent), retaining top performers (20 per cent) and increasing workforce performance and productivity (17 per cent).

Despite this, around half (51 per cent) of all business leaders in Malaysia admit they spent 10 per cent or less of their total strategic planning time on future workforce planning. Commenting on the report, Asia Pacific Regional director of Randstad Sourceright, Doug Edmonds, said a lack of planning could impact an organisation’s ability to innovate, lead and succeed in the future. “A more robust, inclusive and long-term approach to workforce planning could ensure organisations had the right skills in the pipeline. “For example, with 64 per cent of employers looking to boost middle management capabilities to improve productivity over the next five years, now is the time to start thinking about the pipeline for executive recruitment, training and development. “It’s also important to think about the work options, systems, processes and performance measures that will support these managers, to ensure their success – and their loyalty – well into the future,” he added.

The report also found the workforce planning horizon was alarmingly short. Over a third of employers did not plan their workforce a year in advance, just over half planned 12 months ahead and only 10 per cent planed for a two-year period. Edmonds said half of employers intended to align their workforce plan with business strategy over the next five years, but findings indicated more could be done to foster best practices and employee engagement.” He said that human resource (HR) and recruitment professionals could offer valuable advice on effective workforce planning.

“But only 63 per cent of employers we surveyed, currently engage their internal HR function in the process, and just four per cent engage external partners. This raises some concern that employers are failing to tap into a rich source of knowledge and expertise,” he added. The report also found that only 10 per cent of organisations currently engaged employees at all levels in workforce planning.

“With the nature of work changing so dramatically on the frontline, failing to include a wide range of employees in the process means missing out on genuine insights into how work is done, how efficiency gains can be made, and how it might change in the future. “Strengthening employee engagement and collaboration is the number one strategy, organisations will undertake to improve productivity over the next five years. “Engaging employees on the future of their own jobs, how they will work, how they can contribute to achieving organisational goals, and how their performance will be measured and rewarded – is a good place to start,” Edmonds said.He said it was interesting that 74 per cent of business leaders in Malaysia believed talent scarcity would increase the need to fully outsource talent attraction in the next 10 years.

“The outsourcing of such functions allows HR and talent acquisition leaders to spend more time on the strategic elements of their role, freeing them up to focus on workforce planning directly connected to the achievement of core company objectives. “This provides strong signals for the growing role of HR in the region,” he added. — Bernama

Source: Borneo Post

Posted by: www.in-tune.biz

In Tune specialises in finance and accounting outsourcing, human resource (HR) outsourcing to SME business owners in Malaysia; that traditionally cannot afford professional services which they now can at a fraction of the cost less the headache; so that they have more time to focus on the business operations that matters to them.

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