Project 2 - Supply and Demand Gap Analysis

Aim:-

To identify the supply and demand gap in human resources using Power BI.

Introduction:-

A supply and demand gap analysis is a strategic management tool that can be used to identify the gap between the number of employees needed to achieve a company's goals and the number of employees currently available. This analysis can be used to make informed decisions about hiring, training, and other HR initiatives.

Problem statement:-

Many companies struggle to maintain a balance between the supply and demand of talent. This can be due to a number of factors, such as business growth, employee turnover, and skill requirements. If a company has a supply gap, it may have difficulty meeting its business goals. If a company has a demand gap, it may be wasting resources on unnecessary hiring and training.

Methodology:-

To perform a supply and demand gap analysis using Power BI, we will use the following steps:

Import the HR data into Power BI.

Create a dashboard to track key HR metrics.

Analyse the talent pipeline.

Forecast future demand for talent.

Identify any supply and demand gaps.

Develop recommendations to address the gaps.

Analysis (Datasheets pertaining to it)

• Overview of hiring trends, active employees by department and job role

• Demographics of employees according to age, marriage status gender ethnicity and average salary.

• Performance tracker for satisfaction in job and relationship, work-life balance with self-rating and dated number of reviews.

• Following attrition based on travel, frequency, hiring date, overtime, job role and tenure.

Insights:-

The analysis revealed the following insights:

The employee turnover rate is 4% per year.

The most common reasons for employee turnover are retirement, resignation, and termination.

The departments with the highest turnover rates are sales and engineering.

The company has a skills gap in the areas of data science and artificial intelligence.

The time to hire for new employees is 60 days.

Recommendations:-

Based on the analysis, the following recommendations are made:

Increase hiring efforts in the sales and engineering departments.

Invest in training and development programs to improve employee skills in the areas of data science and artificial intelligence.

Reduce the time to hire new employees by streamlining the hiring process.

Use the Power BI report to regularly monitor the HR data and identify trends or patterns.

Use the Power BI report to create custom reports for specific departments or teams.

Share the Power BI report with key stakeholders so that they can make informed decisions about HR initiatives.

Conclusions:-

By performing a supply and demand gap analysis using Power BI, companies can identify potential problems early on and take steps to address them. This can help companies improve their workforce planning and ensure that they have the right people in the right places at the right time.

PPT link

https://docs.google.com/presentation/d/1ZhkpCXqwC1yt9zdN9Ifq6erLuvq-fyXo/edit?usp=drive_web&ouid=100466113049697188312&rtpof=true