Workforce Analysis
Respected Experts in Workforce Analysis
Workforce Analysis
The Most Significant Factors To Consider in Workforce Analysis:
Integrating workforce analysis into the site selection is essential for companies seeking sustainable growth and competitive advantage in today’s business landscape. Here are five of the most critical considerations in workforce analysis relevant to site selection:
Demographic Data
Aside from labor data by occupation provided by entities like the U.S. Bureau of Labor Statistics, understanding job types, standard titles, local occupation rates, and pay rates also aids in effective decision-making. Moreover, monitoring trends ensures alignment with future workforce needs, which is essential for sustained operational success.
Education Levels
Gathering data on high school graduation rates, college graduates, and the availability of specialized skills in target areas is crucial. The proximity of educational institutions to potential workforce sources and tracking long-term trends can help formulate future hiring strategies. Understanding the educational landscape ensures alignment with skill requirements and supports long-term hiring plans.
Educational Resources
Training opportunities offered at local institutions should also be considered. These training opportunities ensure alignment with a company’s operational needs. Collaborations with colleges and technical schools can help provide programs that meet specific skill demands in the long term. Some states also offer state-sponsored training, which can help mitigate costs and streamline labor development initiatives.
Regulatory Environment
Understanding state-specific labor laws and how to navigate enforcement agencies are essential in workforce analysis during site selection. Information on regulatory nuances helps prevent compliance issues and support seamless operations. Aside from preventing costly missteps due to legal variations, having solid knowledge of the regulatory environment ensures efficient operations.
Workforce Competition
Knowledge of potential competition for skilled labor is crucial. Monitoring local employment demands and planned industry expansions or closures informs strategic workforce planning. Understanding the competition for skilled labor helps support informed decision-making and long-term planning.
Other Site Selection Services
- Location Strategy
- Relocation Feasibility
- Location Selection Services
- Labor Market Analysis
- Logistics Evaluation
- Site Selection Assistance
- Area Report Cards
- Economic Incentive Negotiations
- Demographic Analysis
- Wage Surveys
- Employer Interviews
- Economic Development Consulting Services