In Las Vegas last week, PeopleStreme received the TekTonic award for Workforce Planning at the HRO Today Forum. Conference organisers SharedXpertise said "Peoplestreme’s tool budgets and plans the way in which executives think. The latest revision allows forecasting by alternate business strategy and alternate scenarios under different sets of gap analyses and human capital risk assessments."
When organisations contract, it is usually the most expensive employees who are managed out. The PeopleStreme Workforce Planning tool is online software which drives the bottom up approach to managing key people in the workforce, mediated by the amount of money they are costing their organisation. Rather than just looking at cost or just looking at the capabilities needed for a new role, PeopleStreme's software allows workforce planners to create multiple scanarios and models, balancing both budgetary expenditure and human capital capability.
Experienced CEO's understand that losing their most talented and often most expensive people can have a profound impact on business capability and service delivery. However in hard times it is often the CFO who has the final say. What CEO's have lacked are tools to give them visibility of both key capabilities in their people as well as what they cost. This is what PeopleStreme provides as part of their Workforce Planning solution.
Conversely, when growing an organisation or business, the traditional approach is to start hiring in the absence of a complete understanding of sources and sinks of candidates for particular roles. For example, recruitment consultants plan and budget for 100 new hires but haven't realised the rest of their industry is doing the same or that a new competitor or product is disrupting normal hiring patterns. This is especially relevant in the Digital Business space and in areas where retiring workers are not being replaced fast enough by younger generations. Consequently, the recruiters manage to hire only 15 people into that role, leaving themselves 85 people short. This is a symptom of industrial age thinking and is directly addressed by the multiple workforce modelling scenarios featured in PeopleStreme's Workforce Planning tool.