Forecasting supply of labour and identifying workforce gaps
5HR02 – Talent management and workforce planning
This CIPD Level 5 video for unit 5HR02 Talent Management and Workforce Planning explores forecasting supply of labour and identifying workforce gaps, directly addressing assessment criteria AC 2.1 on analysing the impact of effective workforce planning. The content examines how organisations forecast internal and external labour supply, identify gaps between supply and demand, and implement strategies to address these critical workforce challenges. By understanding labour forecasting techniques and gap analysis, learners will develop the capability to contribute meaningfully to workforce planning decisions that drive organisational performance and resilience.
Assessment Criteria 2.1
Analyse the impact of effective workforce planning.
Indicative Content
Impact of forecasting demand for labour; forecasting internal and external supply of labour; identifying and analysing gaps between supply and demand of labour; strategies to address the gaps between supply and demand.
What You'll Learn
Video covering: Forecasting supply of labour and identifying workforce gaps
About 5HR02 – Talent management and workforce planning
This unit focuses on the impact of effective workforce planning in considering the development of diverse talent pools and how to contract and onboard the workforce. It also includes analysis of the potential cost to the organisation if this is poorly managed and the tools and interventions required to mitigate this risk.
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