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What Is Headcount Forecasting? Benefits & How to Forecast Headcount

Headcount Forecasting

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  • Anupriya Singh

    Anupriya Singh

    Anupriya is a content writer well-versed in researching and writing on an array of topics. She works closely with businesses and helps them get rapid and organic growth through compelling digital marketing content. When not working, you can find her reading or sketching.

Frequently Asked Questions

The primary goal of headcount forecasting is managing and planning the workforce effectively. Moreover, accurate forecasting ensures that you strategically meet the company's future goals while ensuring that current and future human capital aligns with it.

FTE or Full-Time Equivalent estimates the total number of full-time employees by counting “hours worked.” For instance, if a company defines a full-time schedule as 40 hours per week, then employees working 40 hours per week will be considered full-time employees, and anyone working less than hours will be considered part-time employees.

On the other hand, headcount is simply the count of the number of individual employees.

Follow the steps to effectively manage headcount -

  • Define the company's growth goals
  • Determine the employees you might need to meet those goals
  • Highlight any skill gaps
  • Assess the financial capacity
  • Hire the right employees

Some of the best headcount forecasting software is - WorkDay, ChartHop, SAP SuccessFactors HXM Suite, etc.

Types of headcount forecasting

  • As-is forecasting
  • Headcount demand forecasting
  • Headcount supply forecasting
  • Recruitment forecasting

Capacity estimation calculates how much work the current employees can finish within the given period. It can be calculated by multiplying the number of employees by the number of hours they work per week.

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