Workforce Analysis

A workforce analysis is the methodical examination and assessment of workforce data, demographics, and trends to enable strategic decisions on talent management, resources distribution, and organizational development. Through the analysis of the factors such as employee demographics, skills gaps, turnover rates, and performance indicators, workforce analysis enables the organizations to identify the areas of strengths and weaknesses and get ready for upcoming workforce needs and match the human capital strategies with the business objectives.

Example of Workforce Analysis

A manufacturing company will conduct a workforce analysis to ascertain the size and competencies of their workforce in view of evolving market and technological environments. Analysis included a study of employee demographics including age, gender, and tenure, as well as skills, certifications, and training needs. Moreover, the organization studies turnover rates, retention patterns and succession plans and points out the loop holes in talent acquisition and development strategies. Following the outcomes of the workforce analysis, the company undertakes tailored programs to close skills gaps, improve employee engagement, and build a learning-and-development-centered culture. Using workforce analysis insights, the company is able to align its human capital strategies with its business objectives; and consequently adapt to an ever changing market environment leading to its business viability.