Meaning of the word "workforce planning" in English

What does "workforce planning" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

workforce planning

US /ˈwɜːrkˌfɔːrs ˈplænɪŋ/
UK /ˈwɜːkˌfɔːs ˈplænɪŋ/

Noun

the process of analyzing and forecasting an organization's workforce needs, and developing strategies to meet those needs

Example:
Effective workforce planning is crucial for long-term business success.
The HR department is responsible for workforce planning and development.