-One of the frequently used tools is the SWOT analysis. The SWOT analysis helps HR professionals and managers evaluate the relevant internal (strengths and weaknesses) and external (opportunities and threats) factors.
# HR Strategy Development
Once the gaps are identified strategies and tactics need to be developed in order to come up with the most effective and efficient alternatives.
For example, gap in certain skills can be closed in the following ways:
the organization can hire new employees
the organization can hire external help by using consultants and freelancers
the company can develop the skills internally by providing the required training and employee development
the company can outsource the certain skill or function to external vendors which specialize in the required capabilities
the company can acquire another company to get immediate access to the relevant skills
the organization can utilize a combination of more than one strategy depending on the risks, timing, productivity and whether the required skills are critical competence for the business.
## Conducting an effective HR gap analysis is a process of strategic importance and involves the following 7 major steps:
1. Review of the current organizational goals and objectives
2. Evaluate the internal capabilities
3. Identify the existing gaps
4. Evaluate the external factors (competitors and general business environment)
5. Identify alternative courses of actions to close the gaps
6. Develop effective strategy and action plan for implementation
7. Continuously evaluate and adjust based on the organizational objectives, capabilities and external forces.