Workfoce Planning Tool Example for Professional Service

In this article, I would like to share Python based Workforce Planning Tool for Professional Service Industry. 

This tool is my attemp to implement analytics approach to forecast future headcount and derive additional recruits to maximize future revenue. 

The tool is executable on Binder, a free online Python execution environment. If you have any curiosity of workforce planning application, please visit this URL and run the notebook!

How it works

1. Initialize the notebook
   
   Once you open the notebook, please push 'Restart Kernel and Run All Cells..' button.
   
   
   It may take a few minutes to process entire notebook. You can see its progress in 'Python 3 (ipykernel)' at the top-right.
   
   
   
   
2. Setup initial headcount and transition probabilities
   
   The tool will apply a simulation on how many people out of the initial headcount will climb the career ladder over five years. You can input number of employee at each title. Also, you need to set probability to promote and stay.
   
   
   
   
   
3. Set up billing rate per month
   
   Revenue amount for a Professional Service Firm depends on billable amount per person-month. You can change billable amount with thousand US dollars.
   
   
   
   
4. Execute Optimization
   
   Once you are done on the previous steps, push 'Run Optimization' button. Forecasted number of headcount will be refreshed in both a stacked area chart and tabular format.
   
   
   
   Lastly, number of additional recruits are suggested for each semester.