Beyond Workforce Planning: Why the Current Model is Broken

CEOs, boards and investors are concerned by the time it takes companies to develop the skills they need to execute against strategic priorities. For example, new technology such as artificial intelligence is creating a huge opportunity for companies to reduce costs and increase product speed to market but this competitive advantage is lost if the workforce cannot exploit the new technology quickly. To address this challenge, CFOs need to play a different, and more active role in workforce planning. The process of sizing and allocating headcount to specific parts of the business can no longer be managed as an output of the financial planning process. Neither can workforce planning challenges be HR’s problem to solve alone. Today, the CFO’s role in workforce planning is to set the pace at which the company develops the new skills and capabilities that allow it to execute against the strategic plan and gain competitive advantage in a new digital business environment.