Outsourcing and Off-Shoring
It should be noted that in the course of undertaking manpower planning, banking institutions in the UAE can either choose to outsource the manpower or to offshore the same. In this regard, the concern is whether the banks would need to hire manpower planning expertise from outside or to undertake the process by themselves. The decision to undertake either will depend on the costs associated with each of the methods. For instance when done in-house manpower planning can go along way in ensuring the upward mobility of labor (Bratton & Gold 2003).
In as much as outsourcing the professional of manpower planning could have the associated benefits of offering high quality services; it can at times be expensive. In the same manner, the decision to undertake the decision in-house may lack the right kind of expertise that would make the process very successful (Bratton & Gold 2003). Thus in evaluating which of the options to undertake, banking institutions in the UAE will have to weigh the pros the cons of each of the methods. Environment Scan
Scanning the environment is once more another step in the manpower planning process. Scanning the environment still falls within the considerations pertaining to the supply of labor (Lee 2007). In this regard, the banking institutions in the UAE will examine the number of employees they have arising from the previous financial years. This will be done in such a manner such that if the number of employees who had left were few, then that would mean that only a few employees will need to be replaced.
Another component of environmental scan will require that the banking institutions in the UAE examine which of the current employees are qualified for their specific jobs. In other words, when properly conducted, the environment scan could reveal that a number of employees are just qualified to fill the vacant positions implying that the supply of labor would be internal (Lee 2007). The environmental scan could also reveal that the employees could be available within the organizations but they are not very qualified as the job requires, in which case the internal supply would not be good enough.
Current Workforce Profile Arising from the above environmental scan, the other thing that the banking institutions in the UAE would need to do would be to profile the current work force. The information received from the environmental scan above would be very vital in examining that for each position, there is sufficient supply of labor in terms of right expertise and experience (Lee 2007). Profiling the current workforce will also entail the banking institutions in the UAE examining whether there is over or understaffing in the various functions of the organization (Bratton & Gold 2003).
Examining the current workforce profile would also reveal to the banking institutions in the UAE if there is need to transfer some employees from one position to another (Lee 2007). Therefore it can be said that profiling the current workforce is a very important step in the manpower planning process. This is for the reason that it examines the organization at a glance thereby giving an overview or an indication of the areas where corrective actions need to be taken (Bratton & Gold 2003). In other words, workforce profiling indicates whether there is a shortage, a surplus or if there is need for transfers.