Demand forecasting techniques for workforce planning
5HR02 – Talent management and workforce planning
This CIPD Level 5 learning video explores demand forecasting techniques for workforce planning, a key assessment criterion (AC 2.2) within the 5HR02 Talent Management and Workforce Planning unit. The video evaluates essential techniques including managerial judgement, working back from costs, and systemic approaches to forecast labour demand, whilst also examining the data sources organisations use to forecast supply—such as promotion and demotion rates, transfer rates, and employee turnover rates. By examining critical incident analysis and factors affecting external labour supply, you'll develop a comprehensive understanding of how to support effective workforce planning processes. After watching, you'll be equipped to analyse and evaluate demand forecasting methodologies that align with organisational strategy and operational needs.
Assessment Criteria 2.2
Evaluate the techniques used to support the process of workforce planning.
Indicative Content
Techniques to forecast demand: managerial judgement, working back from costs, systemic approaches. Data used to forecast supply: promotion/demotion rates, transfer rate, employee turnover rate, factors affecting external supply, critical incident analysis.
What You'll Learn
Video covering: Demand forecasting techniques for workforce planning
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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