External Market analysis for Strategic Workforce Planning

Transcription

1 External Market analysis for Strategic Workforce Planning Sr. Manager, Human Capital Analytics, Workforce Planning & Employee Engagement Southern California Edison Feb. 11,

2 Topics Workforce market analysis ties into the Strategic Workforce Planning (SWP) process External data sources Traditional CIA World Factbook BLS NACE Non-Traditional Monster Intelligence Indeed Linkedin WANTED Analytics Discussion and Questions 2

3 How workforce market analysis ties into the SWP process Goal Formulate a cost effective workforce strategy that will allow us to meet our future business strategy Forecast (best to know prior to market analysis) 1. What are our future business demands and how do they translate into workforce and skills (not addressed in this presentation) 2. What positions are critical to meeting the business strategy (not addressed in this presentation) 3

4 Workforce market analysis ties into the SWP process Workforce Market Analysis 3. What does our internal workforce look like (not addressed in this presentation) 4. What does the external labor market look like (focus of this presentation) What does the external labor market look like for my geographic area? How many people are in the labor market with the experience/ education/ training/ skills we need? What is the demand for these people? Where geographically is this talent located and where do they currently work? Where did our employees work before our company? What companies hire our employees? Decisions and Strategy 1. Can we provide the workforce needed to meet our future business needs 2. Do we need to buy, build, redeploy or outsource specific positions 4

5 Workforce Planning Model OUs determine their workforce forecast based upon business strategy Retirement and attrition forecast sent to Vemo OU planner enters forecast in Vemo Workforce Gap Identified Demand and retirement/attrition forecasts combined Critical positions to business strategy Skills Inventory Succession plans Internal talent available External labor market analysis Plan for the Gap Are talent resources available to support the business strategy Backfill or do not backfill Buy Build Redeploy Outsource Bind or Bounce Finance Staffing Corp Resources IT Integrated Planning Projected labor costs Projected staffing needs Projected real estate needs Projected IT hardware, software and support needs Reporting and analytics related to workforce planning Ensuring SCE has Proper funding to acquire (or reduce) Proper budget to pay Proper work space to house Proper technology to enable the workforce needed for our business strategy Develop HR Strategy Input to Comp & Ben strategy Input to Talent Acquisition strategy Input to L & OD strategy Input to Engagement strategy Right amount of people available At the right time At the right cost With the right skills To support SCEs business strategy 5

6 Select Traditional Workforce Data Sources 6

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10 NACE (source for college graduate supply and demand) About NACE: Since 1956, the National Association of Colleges and Employers (NACE) has been the leading source of information about the employment of college graduates. For more information, visit For the Job Outlook 2013 survey, data were collected July 25, 2012, through September 10, A total of 244 surveys were returned for a 25.2 percent response rate. Of those responding, 14.3 percent of respondents were from the West, 27.5 percent were from the Northeast, 27.9 percent were from the Southeast, and 30.3 percent were from the Midwest. 12/job-outlook-2013/ About the Job Outlook Survey: The Job Outlook survey is a forecast of hiring intentions of employers as they relate to new college graduates. Each year, the National Association of Colleges and Employers (NACE) surveys its employer members about their hiring plans and other employment-related issues in order to project the market for new college graduates for the current class and to assess a variety of conditions that may influence that market. 10

11 Select Non-Traditional Workforce Data Sources 11

12 Monster.com is a job board and resume search database. Source of Data: Jobs and resumes posted to Monster Monster provides a free resource for: Employment Index Occupational Trends Labor Statistics Application to Strategic Workforce Planning: An overall look at market conditions A profile of talent including insight into the types of candidates currently in supply An analysis of supply and demand, together with a comparison of job seeker characteristics and employer requirements 12

13 High level What does the labor market look like for my geographic area 13

14 The IT Job Conditions Report offers a comprehensive view of the IT job market. This study highlights online job postings and candidate resume activity across the nation and focuses on IT professionals and recruiters looking to hire IT talent. Use it to gain insight into online recruitment trends, supply and demand conditions, and how job seeker characteristics mesh against employer needs. 14

15 Source = Monster IT Job Conditions Report

16 Source = Monster IT Job Conditions Report

17 Analysis of demand (job postings) with talent supply (resumes) across a range of characteristics. The comparisons reveal the similarities and disparities between the available jobs and the job seekers. This analysis provides direction for recruiters and employers in setting their expectations and development areas. Source = Monster IT Job Conditions Report

18 Interactive Discussion What should our strategy be if we have a high forecasted demand for RN s? What should our strategy be for Pharmacists? What should our strategy be for Medical Assistants? Source: Monster internal data 18

19 Indeed.com is an employment-related metasearch-engine for job listings. Source of Data: The site aggregates job listings from thousands of websites, including job boards, newspapers, associations, and company career pages. Indeed provides free resources for: Employment Trends Job Market Competition Job Trends (search for company, job title or keywords) Application to strategic workforce planning: An overall look at market conditions A profile of talent demand 19

20 Employment Trends Source = 20

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22 Job Trends (search for company, job title or keywords) Source = 22

23 Linkedin.com is a social networking site for people in professional occupations. Individuals create profiles and provide content on their work history and skills. Linkedin provides free resources for: Provide insight about a companies current and past employees Skills availability Skills location Application to strategic workforce planning: Understanding of where we import our talent Understanding of where we export our talent What skills are available and where they are located 23

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26 Location of people with Pyxis skills Companies who have employees with Pyxis skills or may be competing for skill 26

27 WANTED is an employment-related metasearch-engine for job listings. Source of Data: The site aggregates job listings from thousands of websites, including job boards, newspapers, associations, and company career pages. Site also uses Bureau of Labor Statistics (BLS) data then, based on prior 4 years, infers and applies skills attributes. WANTED provides resource for: Advanced fee based market analysis. Application to strategic workforce planning: An overall look at market conditions Candidate supply with a specific skill Current Demand for a specific skill 27

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32 Searches can be very specific 32

33 Output from External Market Analysis 33

34 Output from external market analysis Understand which of your job or skills buckets will be available, partially available and which ones will not be available Do vendors exist externally that can provide the needed labor with the right skills. Determine if steps need to be taken to cultivate external sources of talent/skills career awareness educational outreach programs Becomes an input to plan for the workforce gap 34

35 Gap Ready now and redeployable Internal pipeline Ready in under 2 years Internal pipeline Ready in 2+ to 5 years External Availability Mitigation Actions Internal Supply Availability H= high M= Medium L= Low Job Family A 172 L M L H None Job Family C 54 L L L M Ensure comp offering is competitive and develop attraction plan Job Family D 16 L H L L Job Family E 28 L L H H Accelerate development of pipeline with internal training program Job Family F 22 L L H L 35

36 Career Awareness 36

37 Discussion and Questions 37

38 Special Thanks to: Jeff Quinn VP, Global Monster Insights For his help in providing content and permission to share content Matt Long at WANTED Analytics For providing a trial account to WANTED Analytics Questions, comments, or follow up information please contact: Michael L. Manning Manager, Workforce Planning, Engagement & HR Analytics Southern California Edison michael.l.manning@sce.com