Workforce planning within a dynamic and unpredictable labor market is bound to be challenging. Many corporate leaders are grappling with reduced budgets because the economic fallout of COVID-19 has diminished their bottom lines. But even those whose bottom lines have remained constant or improved have struggled with the unpredictability of increased variable expenses related to the acquisition, training, and advancement of employees. At the same time, anticipated future workforce trends have been accelerated by the impact of COVID-19. As automation is hastened and more and more work is becoming digitized, leaders are being forced to execute on previously long-term-oriented plans for internal and external talent pipelines, reskilling, and job redesign in the short term. This has precipitated the need for rapid strategic reorganizations and, in some cases, redeployments of employees across functions and/or layoffs.

• Build a learning organization. Cultivate a culture that actively promotes continuous learning and skill development at all levels of the organization.
• Generate pathways. Create professional development programs and pathways—particularly for frontline, entry-level, and mid-level workers who are most vulnerable to displacement due to advances in technology.
• Break down silos. Ensure that the human resources, strategy, and research and development functions are closely aligned.