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Setting the stage:What does a successful headcount forecasting model look like?
So, before we jump into our templates, we first need to consider what a successful headcount forecasting model looks like to ensure the model is actionable and useful to the organization.
We have detailed the characteristics of a successful model below, as well as what these mean for the construction of the model. You can also watch a quick clip of our founder, Katie Fifer, walking through these considerations.
Characteristics of a successful model | Tactical Implications |
Actively used throughout the year to manage headcount. Not just completed as part of the annual planning process and never opened again. | Drills down to the team and individual level |
Makes sense in the context of historical information | Includes historical headcount information and a clear waterfall bridge to go from beginning to end of the year |
Translates headcount into cost | Includes salary information + fringe cost estimates |
Makes sense in the context of the revenue and business plan | Includes relevant metrics and KPIs |
Clear and easy to follow | Easy to update, flexible model with clear inputs and summaries |
Template Overview
There are two templates included in the file – the first template forecasts headcount at the individual role level, while the second template forecasts at the team level.
For each template, we provide a step-by-step video guide to help you understand and operationalize the model:
Template 1: Forecasting at the Individual Level
- Introducing the model
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Understanding and building the model
Filling out the key inputs for Template 1
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Breaking down the monthly forecast
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Summarizing salary & headcount by team by month
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- Summarizing the data and putting it in context