Originally Published on: QuantzigHow we Helped Leading B2B Distributor Forecast Workforce Requirement for Better Hiring Planning
Client Collaboration Overview: Quantzig recently joined forces with a renowned B2B distributor, revolutionizing their hiring planning through precise workforce forecasting.
Navigating Challenges: Manual forecasting of future talent needs led to hiring delays and inefficiencies, hindering proactive planning and resource allocation.
Strategic Solutions Deployed: We crafted a comprehensive framework, merging market parameters and internal data to pinpoint factors influencing resource requirements. By categorizing positions based on difficulty levels, calculating fill and retirement rates, and employing advanced forecasting models, we provided data-driven insights. Our solutions empowered the client to make informed decisions, align hiring strategies with future demands, and optimize workforce forecasting.
Impressive Impact Achieved:
- 48% decrease in vacant positions
- 79% average forecasting accuracy
- Real-time visibility into vacant positions
Client Snapshot: A major US-based B2B distributor, generating an annual revenue exceeding $6 billion, encountered profitability challenges due to high attrition rates, significantly impacting day-to-day operations.
Addressing Core Challenges: Reactive hiring processes and a manual approach caused delays in filling critical roles, disrupting workflows. The client sought effective workforce forecasting to overhaul recruitment and adopt a forward-thinking talent acquisition approach.
Innovative Solutions Enacted: We designed a framework incorporating market and internal parameters, categorizing positions by difficulty levels. Calculating fill and retirement rates, coupled with advanced forecasting models, predicted workforce requirements, ensuring proactive adaptation to changing market conditions.
