Companies in Asia ramping up workforce amid economic downturn

Companies in Asia are ramping up their workforce planning activities in response to the current economic downturn, according to a survey by global consulting firm Watson Wyatt.

The survey, released Wednesday, showed that more than seven out of every 10 companies in the region believe that workforce planning has become more important amid the current economic slowdown.

In fact, more than half have already begun to increase such activities within their organisations.

Workforce planning is the process by which an organisation aligns its workforce requirements to the business strategy using business analytics.

Although such planning is growing in importance, 60 per cent of those surveyed do not have a structured approach to workforce planning.

Instead, their attention is focused on immediate concerns like filling job vacancies, rather than longer term strategic issues relating to their workforce.

Asia Pacific Director of Watson Wyatt's Human Capital Group Russell Huntington said companies need to focus on longer term plans and review the capabilities needed in light of the current adverse business conditions.

He added that reducing employee costs cannot just be a numbers game, but should be a well thought-through, data-driven strategic exercise.


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