Understanding the Risks
An appraisal of the company’s demographics is essential to establish the current workforce scenario, analyse any risks and develop an action plan where necessary. An examination will answer some of the following:
What is the current average age of the workforce in both quantitative and qualitative terms?
What is the future potential of the different age groups?
How are these age groups structured in terms of numbers? Are there any large groups?
What is the composition of the workforce – the % of young to older employees?
This evaluation, linked with corporate strategy, core processes and staff requirements will reveal the way forward. Steps can be taken and projects implemented to deal with demographic risk areas (e.g. work performance issues, higher medical costs, the loss of know how).
The B&H Group has developed a demographic audit which companies will find user-friendly. HR Managers will have a clear view of their capacity to react to changes in the workforce.