Once you have gathered your workforce supply and demand data, you are able to compare this information to provide a picture of the workforce gaps in your business. This process is commonly referred to as a gap analysis. Some of these may include the following:

If you answered yes to any of these questions, you may have identifies further workforce gaps and risks that may relate to:

• Workforce numbers and roles
• Skills gaps
• Demographic profile

A workforce risk can be any workforce related issue that can disrupt your businesses ability to deliver on its outcomes or outputs.

Not having the right skills can sometimes be just as much of a risk as not having the right numbers of people.

Main sources of workforce risk:

Risk assessment looks at the gaps in workforce supply and demand as well as internal and external business risks and considers:

• the likelihood of not being able to fill the workforce or skills gaps
• the consequence of not being able to fill the workforce or skillsgaps
• whether the risk is low, medium, high or severe.

Workforce Planning Connect resources help you assess your risks against the impact on your business, from not addressing them. Conducting a risk assessment and prioritising your workforce strategies and actions is a vital step in the process.

Workforce planning strategies and actions can be grouped into four key categories:

• develop your existing workforce skills and capability
• attract new employees to address skill gaps
• retain valued employees
• manage the workforce through business change

These categories cover a range of activities to help ensure your workforce matches business requirements into the future. You are not fixed to the strategies and solutions you develop, they can also be adjusted in response to workforce and external trends. You’re in total control.