A mid-year review is an opportunity to be proactive and evaluate your organization’s and team’s progress for alignment with annual goals and strategy. Utilizing this process can ensure that your New Mexico workforce is suitable for achieving your business needs and gives you ample room to adjust and find solutions if you are not on track. Learn more about the process of assessing your workforce and planning for the second half of the year:
Review Current Status
Clarifying your company’s position is critical to ensuring you are assessments are focused in the most strategic areas. Review the current status of how your organization is performing in terms of achievement of specific goals, resource allocation, having staff with the right qualifications, etc. This will give you a baseline of your situation so you can determine areas to address.
Evaluate and Revise Goals
A lot can change in six months, and your business’s circumstances and the state of the labor market may be quite different than the climate in which you initially established your annual goals. The midpoint of the year is a crucial period to ascertain how your progress is going, and how on track you are to accomplish desired results by yearend. Evaluate and revise your goals as needed to be realistically achievable and correspond with your vision in Q3 and Q4.
Consider Changes to Future Demand
Taking projected trends or shifts into account as you plan for the short-term future will put you in a better position to adapt and not caught off-guard if they end up coming to fruition. Consider changes to future demand that could impact the overall number of your workforce or any additional necessary skills that may be required as you plan for the remaining year – for example, are there likely spikes in business coming or rumbling of a downturn in your industry? This can help you determine if you have appropriate workforce levels currently and allow you to be nimble if you have an idea of the possible changes that could be headed your way.
Identify Any Staffing Gaps
Once you have an understanding of your current business performance and the level of improvement or change in the workforce needed for success, you can finalize an updated plan for the final half of the year. Identify any staffing gaps you may have found, such as the number of employees and/or missing critical skills needed to achieve your organizational strategic plan, and determine solutions for addressing them. This may include additional new hires, upskilling current workers to have the correct skills, or outsourcing to a staffing firm to address shortages in coverage or specialized skills with temporary workers.
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