An Exploration of the Implications of Human Resources Analytics for Workforce Planning

Abstract

Workforce is a tangible and talent-driven asset for high-performing organisations in today's global economy. Arguably, if workforce is not adequately planned, it impacts the effective execution of future business strategies. This research uses Standard Chartered and HSBC Holdings as a case study. A sample size of 60 participants is selected and descriptive data analysis employed to examine the online survey questionnaire. The findings indicate that HRA helps organisations to develop and sustain high-quality planning and eliminates the conventional obstacles HRA provides. It aligns strategic planning by head counting and establishing a clear view of talent demand and supply problems. It is a useful tool used to evaluate the impact of their decision and prioritise future investments in the workforce. Key identifiers include: Control, employee production efficiency, and structure. The study recommends organisations combine demand planning and internal supply analysis to identify workforce gaps and plan accordingly.