Workforce Planning & Budgeting

Workforce Planning is the process used to ensure an organization has the right people, with the right skills in the right roles to achieve their goals and objectives. Building and maintaining a strong workforce plan will help retain high performing and high potential employees, establish transparent career paths, and ensure you have the talent resources needed to achieve your goals and objectives.

A Workforce Plan informs budget needs for costs associated with professional development, career progressions, new salary/positions, and recruiting costs associated with hiring activities.

Penn State budgeting is based on a 2-year forecast so taking time to establish a Workforce Plan and review it annually will improve your ability to account for talent development costs within your budget.

Training resources:

• Insert link to Module 1
• Insert link to Module 2
• Insert link to Financial Stewardship ILT course

The Workforce Planning Toolkit for Managers contains information and resources to help you address your talent needs, including job aids and templates.