From Data to Decisions: Creating a Robust Staff Forecasting Model
The Staff Forecasting Model is crucial for proactive workforce planning, aligning staffing levels with evolving business needs and supports decision-making in talent acquisition, career development, succession planning, and budget allocation.
BACKGROUND:
The company was a boutique consulting firm in the business services sector, having spent its initial years establishing itself, stabilizing operations, and carving out a niche in its offerings. With a solid portfolio in hand, they were entering a growth phase, ready to ramp up their marketing and sales efforts. To support this expansion, the company recognized the need for a staff forecasting model that could align with and complement their sales and marketing initiatives.
SCOPE:
The scope of the project included gathering historical data, identifying key business drivers, applying time series analysis, and integrating the model into existing systems.
OUR APPROACH:
- Gathered data on past workforce usage, including employee roles, tenure, and the number of hours worked across various activities and projects.
- Analyzed employee turnover patterns to factor attrition impacting staffing requirements.
- Categorized roles based on skill sets, levels, and departments
- Clearly defined roles, responsibilities, and accountabilities for each position.
- Used time series data to create a model that allows the company to forecast staff needs based on historical usage patterns over time.
- Designed a simple dashboard that allowed HR, project managers, and leadership to input data and visualize staffing needs.
OUTCOME:
The staff forecasting model enabled more accurate, data-driven staffing decisions, aligning workforce capacity with business needs, while empowering the company to make proactive talent decisions, optimize resource utilization, reduce costs, and support sustainable growth.