Analytical Steps for Evaluating Labor Supply and Demand

Four analytical steps in workforce planning:

1. The supply model analysis, which reviews an organization’s current labor supply.
2. The demand model analysis, which estimates future business plans and objectives.
3. The gap analysis, which compares the variances in the supply and demand models to identify skill surpluses and deficiencies.
4. The solution analysis, which focuses on how to tackle gaps in current and future staffing needs through recruiting, training and development, contingent staffing, or outsourcing.