ASIA HR  WORKFORCE PLANNING  WATSON WYATT  HR SURVEY

Asia - Workforce planning has taken on an increased importance during the economic downturn, according to a new survey conducted by Watson Wyatt.

About 75% of 224 companies say workforce planning, which is defined as using business analytics to align the workforce requirements to business strategy, has become even more important to the business since the slowdown. Furthermore, slightly more than half (56%) have begun to increase activity around it.

Although the issue is perceived to be important, many are focused on immediate concerns such as filling open vacancies (63%) and not on long-term strategic issues. Sixty percent also say they have a structured approach to workforce planning.

However,  Russell Huntington, Asia Pacific director of Watson Wyatt's Human Capital Group says companies still need to keep sight of their longer term plans and review their capabilities, even during bad economic times. "Reducing employee costs cannot be a numbers game - it has to be a well thought-through, data-driven strategic exercise."

Although scarcity of critical talent continues to be a concern, only 90% are still looking to replace talent, but with a focus on critical roles. The lack of information and ineffectiveness in computing the costs associated with talent replacement and attrition is also impacting organisations' ability to invest in recruitment and retention programmes.

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