The Art and Science of Assessing the Labor Market

Wednesday, November 21, 2018

Only through a combination of data analysis (the science) and labor interviews (the art) can a company be sure of choosing a location where its workforce needs are satisfied now and in the future.

As a corporate executive team analyzing the right community in which to locate its next company investment, access to a deep labor pool with the appropriate skill base is one of the most important project drivers to thoroughly understand. More than any other site selection factor, evaluating the labor market accurately will enhance or inhibit your company’s success and return on investment in a chosen community. Misreading the labor market reduces profitability due to high turnover, inability to fill positions, and/or the need to recruit from outside a labor shed area to find/relocate workers. 

Labor markets are complex and inherently capricious, and potentially filled with unexpected pitfalls even when one is seemingly doing the proper due diligence. Veering off course — and making wrong inferences and conclusions — is easy to do without the right framework to guide one’s decisions. So how does one go about reading the market accurately? In short, it comes down to analysis and executing a plan around two broad but related questions.

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“Birmingham Landmarks, Inc. certainly made the right decision in selecting NCDS to raise the $7 million needed to fully restore our sadly dilapidated and abandoned former vaudeville theatre in downtown Birmingham.  Your firm provided the wisdom and experience to position the project as worthy of support, then structured a winning campaign that was creative, energizing, and relentless in pursuit of the goal.  We were especially appreciative of your flexibility relative to our early cash flow issues, and even more so in the selection of the assigned NCDS Project Executive.  Because of the success and momentum of your phase of this exceptional campaign, the Lyric staff was able to continue seeking commitments utilizing tax credits, and the total raised now exceeds $11.8 million.  Thanks to NCDS, Birmingham can boast of having one of the most spectacularly restored performing arts theaters in America.”

Brant Beene, Executive Director • Birmingham Landmarks, Inc.

National Community Development Services, Inc.
6300 Powers Ferry Road, Suite 600-165
Atlanta, GA  30339
Phone: (404) 231-0730