According to Australian HR Institute (AHRI), the most common definition of workforce planning is “having the right people, in the right place, with the right capabilities, at the right time.” The start of a year is a great time to sit down and look strategically at the composition of your teams, both for your immediate and future needs.
Having a framework in place allows leaders to be intentional about the resourcing decisions they make throughout the year, ensuring they align with organisational goals and market demands, rather than reacting to a situation based on perceived needs or pressures in the moment.
In an industry like investment management, where the demand for change is supported by diversity mandates, charters and stakeholder pressure, workforce planning is essential. An intentional, long-term view with a tangible action plan will not only shift the diversity dial but also secure the best talent and ultimately, the strongest returns for clients.
Going through the workforce planning process is relatively straightforward, but it does require dedication and clarity of mind, which is why the beginning of a new year can be the perfect time for it. There are a plethora of resources available, or you can engage experts in the field like our partner Mercer.
Whichever approach you take, the most important thing is dedication to the process and ongoing review.
Laila has a rich marketing background with 17 years’ experience across a variety of industries to create meaningful, long-term connections between brands and their customers. At Future IM/Pact, Laila is responsible for all aspects of program delivery and industry partner management.
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