Is Your New Economy Workforce Hiding Where You Least Expect It?
Friday, January 04, 2019
To get a complete picture of a location’s workforce, site selectors need to look beyond costs to educational attributes and quality of life among other factors.
Workforce is critically important in every industry these days. In an exceptionally tight labor market, it’s becoming increasingly difficult to find a community that can deliver the talent growing companies require. Deeper digging can help you find the workforce you need today and the one you may need tomorrow. The following are tips on how to create a complete picture of the site you’re considering and its surrounding labor pool.
Labor cost is often a top criterion for a location — but wages alone don’t tell the full story of a location. Neither do incentives. For long-term success, what is a community doing to build a pipeline of qualified labor? What is the community doing to create a foundation for the skill sets you might need in 10 or 20 years? For a well-rounded analysis, you need to look at primary and secondary information.