WORKFORCE MANAGEMENT

When it comes to workforce planning, companies need to take into consideration both internal and external factors that could affect the approach and strategy of their workforce plan. The success of an organization depends on the management of the risks found in these two factors.Examples of internal factors could be the use of technology to attract, retain, and develop employees. In other words, training and development opportunities to upskill internal talent. Examples of external factors could be government regulations, or lack of talent pool in a given demographic area. A company has control of internal environmental factors, but may have limited control over external environmental factors.Through your research this week, choose an industry and discuss the internal and external factors to consider when completing a workforce plan.