Task 1: WORKFORCE PLANNING REPORT
A) Workforce Planning - is the business process for ensuring that an organization has suitable access to talent (potential candidates that have the ability to undertake required activities including decisions making) to ensure future business success. Access to talent includes considering all potential resources (employment, contracting out, partnerships, changing business activities to modify the types of talent required, etc.). The cycle of workforce planning includes filling resource requests, analyzing resource utilization, forecasting capacity, managing and identifying the resources (human) to fill that capacity, and then restarting the cycle.
B) Importance of Workforce Planning – It is important that some business owners who just wait and try to react to current events will not thrive in the long run. The rate of change in the talent market can dramatic, and most people understand the importance of the talent to success of any business.
C) Possible outcomes of poor workforce planning – there are some factors that will affect the organizations if there is poor in planning like: 1) inability to execute new business opportunities 2) delayed product to market 3) inability to operate at full capacity 4) strategic projects delivered over budget.
D) Steps in Workforce Planning
There are five fundamental activities that make up a Workforce Plan: * Environment Scanning - is a form of business intelligence. In the context of Workforce Planning it is used to identify the set of facts or circumstances that surround a workforce situation or event.
* Current Workforce Profile - Current State is a profile of the demand and supply factors both internally and externally of the workforce the organization has ‘today’.
* Future Workforce View - is determining the organizations needs considering the emerging trends and issues identified during the Environment Scanning.
* Analysis and Targeted Future - Once critical elements are identified through quantitative and qualitative analysis, the Targeted Future takes place. The targeted future is the future that the organization is going to target as being the best fit in terms of business strategy and is achievable given the surrounding factors (internal/external, supply/demand).
* Closing the gaps - Closing the programs and practices that the workforce need for today. The process is about determining appropriate actions to close the gaps and therefore deliver the targeted future.
There are 8 key areas that closing the Gaps needs to focus on - Resourcing
Learning and Development
Task 2: ACTIVITIES (AN ORGANIZATIONS)
GROUP OF COMPANIES
SM Group of Companies - is the Philippines largest retailer run by Henry Sy. SM Group is a retail giant with 38,600 employees and annual revenues of $1.7 billion. SM is the Philippines' leader in the retail industry. SM Investments Corporation is the holding company of the SM Group. For more than 40 years, it has been committed in providing quality products and services at reasonable prices. SM Group of Companies is also one of the leaders in Banking & Financing Industry and Property & Real Estate Investment today. The company does not forget their role in the community or their civic responsibilities, that's why SM also focuses on four major programs and areas of advocacy, namely, education; religious; outreach; and health.
THE FOLLOWING ARE PARTS OF SM GROUP OF COMPANIES
SM Department Store - is the country's leading one-stop lifestyle and fashion chain? For many decades now, and for countless shoppers, it offers the widest array of quality products at affordable prices, truly the epitome of "value for money" shopping.
SM Supermarket - is the country's top supermarket chain. With an extensive, nation-wide presence and employing state of...
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