Recruitment Forecasting

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Recruitment forecasting (sometimes known as hiring planning) is the collation of a companies or organisations hiring demand across a specified time frame. Time-frames in question can vary and typically split into 3 categories. 0-12 months - Tactical Recruitment Forecasting, 12 -18 months - Operational Recruitment Forecasting, 18 Months - 5 years Strategic Recruitment Forecasting (also known as Strategic Workforce Planning).

Recruitment Forecasting (or hiring planning) should not be confused with workforce planning or financial forecasting / budget planning. Hiring planning should be a process that is owned by and driven by the in-house talent acquisition< (sometimes known as resourcing or recruitment or corporate recruitment team). The components of a hiring plan should include details that will directly allow the talent acquisition need to deliver the service they offer. Typical components of a hiring plan are job titles, grades, salaries, locations, target start date, reason for leaving etc.

A recruitment forecast or hiring plan is normally the first step organisations take on their journey to becoming proactive. Due to it being a relatively new concept there is currently only one organisation that are able to offer assistance in this field. wwww.theforesight.co.uk

Organisations often fail to get obtain a hiring plan for many reasons. It's often, mistakenly believed to be too hard to accomplish, however recruitment functions that achieve even small packets of hiring planning data out perform other organisations in their pursuit of exception external talent.

References

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