The British Academy for Training and Development offers the Workforce Planning and Budgeting Course. This programme is designed for providing a professional with the well-favored preparatory course in strategic workforce planning, budgeting methods, and resource allocative techniques. Workforce forecasting principles which enable attendees to anticipate staffing needs and the goals of a business form part of this course. There are talent management strategies within it that will ensure optimal attraction, retention, and development of employees in any organisation. Budget preparation and cost control skills will be imparted to the attendees who will also learn to develop a workforce plan linked to financial demands. The programme also covers labour market analysis, which enhances business adaptation to ever-changing economic conditions.

All delegates will be put in a position to optimise their workforce productivity through the use of data-informed insights on productivity and efficiency understandable and without compromising financial sustainability. This training will focus on HR analytics and performance measurement, giving companies the ability to track and improve their workforce efficiency. By the end of the course, attendees will have mastered scenario planning for their workforce, which will prepare their organisations for forthcoming challenges through effective budgeting and human capital strategies.

Objective:

The objectives of Workforce Planning and Budgeting Course are:

Learn the basic concepts of workforce planning and the influence it holds on business strategy.Gain skills on budgeting techniques for better financial management applications.Understand labour market analysis in relation to staffing and the prevailing trend in the market.Build up a mastery of talent acquisition and retention to stabilise the workforce.Know about cost control and resource allocation for better performance.Use HR analytics and workforce forecasting towards effective decision-making.Scenario planning methods will be used to develop strategies for the upcoming challenges in workforce planning.Apply forecasting tools to the demand and supply of different types of human resources, both in terms of quantity and qualityRecognise the relationship of HR planning to the staffing processDescribe why an understanding of the external labor market is important in workforce planningFormulate staffing strategies to fill labor gaps whether shortages or surplusesWho Should Attend?

This course is designed for:

HR professionals involved in workforce planning and budgetary management.Finance and budget managers manage expenditures relating to the workforce.Business leaders and executives involved in strategic decision-making.Recruitment/staffing professionals matching hiring to financial planning.Operations managers balancing staffing needs with organisational objectives.How Will Attendees Benefit?

Attendees of the Workforce Planning and Budgeting Course will gain many benefits:

Strategic Workforce Planning: Forecast staffing requirements in line with business needs. Effective Budget Management: Create skills in any of the following areas: workforce budgeting or cost estimation and financial planning. Achieving Better Talent Retention: Initiatives to attract, retain, and develop a skilled workforce. A Data-Driven Approach: HR analytics and performance metrics that maximize productivity of the workforce. Better Resource Allocation: Balancing the requirement for resources with their financial availability to enhance productivity. Being Alive to Market Changes: Awareness of the labor market trends and economic factors for strategic workforce planning. Risk Mitigation and Scenario Planning: Preparing for future uncertainties contributing towards the sustainability of workforce planning. Enhances Organisational Efficiency: Implementing best practices to optimize operations, remove unnecessary costs, and increase business performance.

At the end of the course, attendees will have developed and managed workforce plans, been budget conscious, and led towards overall organisational success.

1. Introduction to Workforce Planning

• Importance of workforce planning in business strategy

• Key elements of workforce forecasting

• Aligning workforce needs with organisational objectives

2. Budgeting Fundamentals

• Basics of workforce budgeting and cost estimation

• Financial planning for human resources

• Linking workforce budgets with business performance

3. Labour Market Analysis

• Understanding labour market trends

• Competitive benchmarking and workforce demands

• Economic factors affecting workforce planning

4. Talent Management Strategies

• Recruitment and retention planning

• Workforce skills assessment and development

• Succession planning and leadership development

5. Workforce Optimisation Techniques

• Balancing cost efficiency with workforce productivity

• Technology and automation in workforce management

• Data-driven decision-making for workforce allocation

6. HR Analytics and Performance Measurement

• Key metrics for workforce performance evaluation

• Predictive analytics in HR decision-making

• Data-driven approaches to workforce planning

7. Scenario Planning and Risk Management

• Preparing for economic and organisational changes

• Risk mitigation strategies in workforce planning

• Workforce resilience and sustainability planning