Assessing an Area’s Workforce Potential

This IS a worthwhile read for any Ashtabula County employer worried about skilled labor and talent.

Site selectors are frequently asked questions such as, “Where would my business have access to a workforce that meets my cost and skill requirements? What will the availability and cost of labor be in five years?”  Assessing labor market suitability for a new or expanding operation involves more than just researching the area population size and unemployment rate. Other considerations should account for an understanding of competitive wage positioning to better attract talent, an assessment of the depth and concentration of targeted skills, an understanding of evolving demographic attributes, as well as measuring the level of competitive labor demand and capitalizing on local workforce-training resources.

A comprehensive approach addresses these and other labor-market considerations through analysis of published statistics, and field-based research (employer interviews with firms employing similar skills). The goal is to uncover potential near- and long-term operating risks and to find the location that best supports the broader location decision and commitment.

Read the whole story here.

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