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Avoiding the consequences of wrong workforce decisions

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Based on an annual global CEO survey by PwC, 72% of CEOs are concerned that the lack of skills in their workforces poses a threat to their organisations’ prospects. Yet, large scale job cuts in many organisations have become increasingly commonplace, especially in sectors most affected by the economic downturns.

Retrenching staff is often seen as the easiest and most straightforward way to reduce operating costs quickly and significantly. However, this is merely a short-term solution that might not help the organisation should manpower needs increase as business conditions improve and skills become rare. Smart workforce planning should begin with a comprehensive plan encompassing multiple issues and forecasts, aided by an informative data analysis and risk management strategy.

To help HR practitioners in Asia understand how best to manage workforce risks effectively, reduce costs significantly and execute a workforce plan, the HR Academy has launched an intensive, 2-day training workshop called “Strategic Workforce Planning & Risk Management”.

This workshop will be led by Colin Beames, one of the world’s most sought-after experts in the field of workforce planning. Beames has run many workforce planning projects for some of the world’s biggest companies, one of which helped Thomson Reuters achieve global cost savings of USD15 million.

This course will be held in Singapore and Kuala Lumpur and will equip HR professionals with everything they need to make important workforce decisions for maximum business impact. This includes closely examining and analysing job roles and competencies, as well as calculating the exact cost of talent turnover.

“After speaking with many senior HR executives from global companies, we realised that high employee turnover is a serious and expensive problem many organisations in Asia face,” said Kenneth Neo, regional producer at Human Resources magazine.

“Many of these senior executives appreciate that staff attrition is a costly and disruptive affair, but they are struggling to deal with it effectively.”

Neo added that challenges posed by recent economic instability has led many companies to pursue all means to cut costs, including retrenchments. It is essential for top executives to take a long-term view on the company’s bottom line, employer brand and workforce strategies instead of just pursuing a quick fix.

This view should be reinforced by linking recruitment, engagement and retention to workforce strategy and exploring alternatives to retrenchment, such as staff redeployment, job sharing and many other techniques.

The HR Academy runs courses in an interactive workshop format, blending real-life case studies and practical examples with the expert knowledge and experience of external trainers to ensure maximum value is delivered.

Delegates undergo intense learning and interaction with their trainer and fellow course participants, and will take away global best practices, fresh ideas and customised solutions for implementation back in their organisations.

New concepts such as the “4M” approach, HRM architecture, workforce segmentation, role analysis and workforce risk management will also be introduced at this course. As with all HR Academy workshops, this session will be capped at 20 attendees.

“We want to help leaders understand how crucial it is for them and the business to take a broad long-term view of workforce planning,”said Aditi Sharma Kalra, regional editor of Human Resources magazine.

“The effects of many workforce decisions are not just confined to HR practices, but are also intricately linked to business and marketing issues. It is highly essential for business and HR leaders to be able to see the big picture and protect themselves effectively from the numerous workforce and financial risks present.”

HR professionals interested in learning more about this course can visit the website or contact Jessy Koh, Project Manager,, +65 6423 0329.

Hong Kong HR Masterclass Series: 19th June 2020 Data Analytics for HR
Become a true strategic partner to the business by leveraging data and analytics to make strategic talent decisions.
Register now here

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