In a Conference Board 2014 survey of 1,020 CEOs worldwide, human capital ranked first among the most pressing business challenges, with customer relationships coming in second, innovation third, operational excellence fourth, and corporate brand and reputation fifth.
With a continued focus on cost containment and a keen desire for growth, effective workforce planning — ensuring that the right people are in the right jobs, at the right location, and at the right price — is emerging as a critical element of a successful talent strategy.
Once the domain of HR, today’s workforce planning has gained ground as an essential overarching business competency. Global organizations are now looking closely at the complex inflow and outflow of talent and at the availability of business-critical skills in fast-growth opportunity geographies. However, the ability to predict future workforce requirements is more complicated and challenging than ever.
Read more: Mercer