Advantages of Manpower Planning
1. Alignment with Organizational Goals: Manpower planning defines a workforce of the organization which is well coordinated with the overall strategic plan and thereby pulls together human resources and business objectives.
2. Optimized Workforce Utilization: With workforce forecasting and highlighting skill deficits manpower planning facilitates to the effective functioning of the organization and avoidance of wastage associated with over-staffing or under-staffing.
3. Cost Savings: Proper manpower planning can be a source of cost savings, hereby reducing recruitment expenses, turnover ration, and increasing productivity of the invested labor through better managing of the employees.
4. Improved Productivity and Performance: Through enabling the most competent people for the critical tasks, manpower planning assures enhanced performance of the employees that results in desired performance for the organization in general.
5. Talent Acquisition and Retention: Organizations can set up proactive strategies of talent acquisition and retention, such as planning for lateral recruitment and succession, thus building culture of talent integrity and reducing recruitment costs and turnover rates.