Gap analysis is the critical “so what?” step in workforce planning. It involves a side-by-side comparison of the future demand forecast and the current supply analysis. 

The goal is to identify misalignments: 

Quantity Gaps: A shortage or surplus in the number of employees needed. 

Skills Gaps: A deficiency in the capabilities or competencies required for the future. 

Timing Gaps: A misalignment in when talent will be needed versus when it is available. 

Cost Gaps: A discrepancy between projected labor budgets and future requirements. 

This analysis pinpoints precise areas of risk and opportunity that require strategic intervention.

Professionals excelling in workforce planning possess a unique blend of skills.

Analytical Skills: Proficiency with data analysis, statistics, and interpreting metrics. 

Strategic Thinking: The ability to see the big picture and connect people to business outcomes. 

Financial Acumen: Understanding budgeting, cost-benefit analysis, and ROI calculations. 

Communication & Influence: Articulating complex findings clearly to persuade and gain buy-in from executives and managers. 

Technical Skills: Familiarity with HRIS systems, advanced Excel, visualization tools, and planning software. 

Business Acumen: A deep understanding of the industry, market, and how the company makes money.