Workforce Planning Model

Common questions you might have when it comes to workforce planning

• How much does my workforce actually cost my business?
• Can I afford to add some additional new hires to my business?
• How does the cost of the workforce compare across the different departments in my business?
• What would happen if I adjusted the amount we contribute to employee’s pension funds?

How will you use this model?

Modelling with Blox is fast and fun! You can create a plan in 5 minutes by following the simple guided steps:

1. Select your planning timescales
2. Add your team members through the interactive Blox interface
3. View your workforce spend plan through an interactive dashboard and adjust your drivers to see different scenarios so you can make the best decisions. Plan outputs include:
   - Headcount
   - FTE
   - Salary
   - Employers Tax
   - Total costs
4. Save your model and share it with others!

What is Workforce planning?

In many businesses, the largest cost to the business is the cost of the workforce - that is how much it costs the business to employ all of the individuals who work for the company.

Workforce planning allows business leaders to model their overall workforce to understand and manage the total cost this brings.

With effective workforce planning, we can align our company goals with the future hiring plans to ensure we have full visibility of the cost impact of our decisions.

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What are the benefits of Workforce planning?

Having a solid understanding of the total cost of the workforce, and how it can change over time will have significant benefits for the business:

Grow with confidence

Want to add some new hires to grow your business, but not sure if you can afford it? The workforce plan is for exactly that. Add planned new hires and see the impact it has on future costs. You don’t need to guess, or go with your gut - the Workforce plan is here to back you up.

Manage cashflow

The cost of the workforce is one of the biggest costs to the business, and so one of the biggest contributors towards your cash burn rate. An effective workforce plan gives you better visibility into your costs, and better visibility into your future cash flows.

No more nasty surprises

When it comes to employee pay and benefits - nobody likes an unexpected surprise. The workforce plan will help give visibility into the future so you can take action as early as possible

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When should you be modelling your workforce?

Workforce planning is definitely not a ‘one-off’ process. Businesses are constantly changing, and as a result it should be something that is maintained and re-visited on an ongoing basis.

Having said that, there are some stages of the business which updating and producing an up to date workforce model can be more important. For example if you are:

• Looking to scale and expand your team
• Running you budgeting processes
• Looking to cut costs in your business

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