Oct 30, 2024

Recap: Tactical Workforce Management

Practical tools to help manage compensation and headcount with Laura Flores, Head of HR at People.ai

Recap: Tactical Workforce Management

This week, I had the pleasure of co-hosting a webinar with Haris Ikram, CEO at CandorIQ. We dove deep into tactical workforce management and compensation strategies—topics that, as a people leader, are near and dear to my everyday work life. These topics are so important and it would be easy for me to talk about them for hours… But I’ll save that for another time.

For the sake of brevity, here’s a recap of what we covered, and a few tactical takeaways that I hope will be helpful in your own HR practice!

Using The Right Data To Align Compensation and Headcount Strategies

Compensation and headcount planning go hand-in-hand. During the webinar, we stressed the importance of aligning these strategies with broader business objectives. It’s not just about paying people competitively—it’s about understanding where the business is headed and ensuring you have the right people, at the right price, in the right roles.

To do this, you need good data and you need to look at that data with your business in mind. In other words, don’t just take it at face value. If you're a 100-person startup, are you really competing with Google? If not, does the data you’re using reflect that? Regular market analysis is non-negotiable if you want to stay competitive, especially in critical roles. 

Bonus note on comp and headcount: Don’t work in a silo! Collaboration between HR, Finance, and department heads is essential to really understanding what your business needs.

The Importance of Workforce Planning

Workforce planning is where strategy meets execution. Identifying critical roles, succession planning, and addressing single points of failure is not just an HR responsibility but a business imperative. Scenario planning—what happens if we lose a key team member, or market conditions suddenly shift—helps prevent surprises down the road.

Don’t be afraid to get creative when you’re exploring these different scenarios. If you’re trying to avoid a RIF or need to scale more than the budget allows, don’t only consider salaries. Compensation strategies are always evolving, it’s not always about higher salaries. Sometimes, flexibility in packages (cash, equity, bonuses) can be the key to retaining top talent, especially in markets where cash is tight.

Partnership and Collaboration

One of my favorite parts of the conversation was on building partnerships. Successful HR leaders don’t just implement policies—they’re partners to department heads, working cross-functionally to understand business needs and help craft solutions.

Influencing without direct authority can be challenging, but it’s possible when you come armed with data, creative problem-solving skills, and a deep understanding of both people and the business.

7 Tactical Takeaways

  1. Utilize the MOC (Missions, Outcomes, Competencies) framework for defining roles and evaluating performance.
  2. Conduct regular compensation benchmarking, at least twice a year for critical roles, to stay competitive.
  3. Leverage data analytics, like turnover metrics, to inform workforce strategies and identify areas of concern early.
  4. Prioritize critical roles and allocate budgets accordingly to ensure you retain key talent and address single points of failure.
  5. Foster open communication and scenario planning to be ready for unexpected challenges.
  6. Get creative with compensation—consider temporary salary adjustments or consolidating roles during tough times.
  7. Join HR networks to stay on top of trends and learn from others’ best practices.

Implementing these strategies can make a huge difference in how effectively we manage our workforce and stay aligned with business objectives, even when the landscape is shifting under our feet.

It was a fun, insightful conversation, and I’m thrilled to have had the opportunity to share the “how” behind effective workforce management in today’s world. If you couldn’t make the webinar, I hope this recap gives you a taste of what we covered—and inspires you to try some of these tactics in your own work!

Watch the full episode here.

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