For a business to work, it needs people to foster it. Even though the trend for companies is to work with few employees (e.g. tech companies), the market economy cannot thrive without people workforce.
A growing company is a company that hires and develops a team of dedicated people. The challenge is identifying the potential for the workforce: where can you find the best suited people for your company’s job? How do you attract the best workers? How do you get to these people? What are their job expectations?
You can find answers to all of these questions with a workforce analysis, revealing your employer potential.
Workforce recruiting, a challenge
In recent years, recruitment has become a challenge for business everywhere.
The most commonly mentioned reasons are:
- poor training of specialists;
- labor migration;
- candidates unhappy with the job offer;
- or simply a lack of a communication channel where job offers and demand can meet.
These are the risks that any growing business is facing when looking to hire new people.
The good news is that risks can be diminished, even eliminated, if the recruiting process is done knowing its context very well.
For instance, a greenhouse owner is looking to open a new working point. Certainly, the criteria for selecting the best location will include the available workforce in the area after a thorough analysis.
But how do you find out if people are available to work for your company?
A labor market analysis will provide you and your company with this information and many other specific details like skill level and wage expectation.
Measuring labor dynamics
A labor market analysis helps position your business by recruiting the most efficient and relevant people. This means you can create a Human Resources Plan based on better informed decisions.
Workforce analysis entails:
- Identifying the current job offer;
- Identifying the potential of the workforce, for a given region or job specialization;
- Identification of the active population according to:
- level of training (blue & white collars)
- employment rate.
What can you measure with a proper workforce analysis
There are lots of KPIs that consulting agencies measure when doing these kinds of studies. Here are the top things that we suggest analyzing:
- Labor resources available in the area (active people, unemployment rate);
- Which segment of the market corresponds to your company’s needs;
- Blue and white collars available;
- Professional and wage expectations of candidates;
- Candidates availability of job relocation or travel;
- Wages and bonuses for similar positions;
- Best channels of communication with the candidates;
- Competitive employers in the area.
How can you perform these type of analysis?
MKOR specialists have carried out many labor market analyzes. Each time, the first step was listening to the company’s needs and establishing together with the management team what are the positions/ roles that would best cover deficits.
The next step is to design and implement a study to reach the set goals. Depending on the objectives, the methodology is carefully chosen to maximize results. In a labor force survey, we can use structured interviews (CATI or CAWI), focus groups or desk-research.
Desk research is indispensable as it provides practical information, such as the number of unemployed, graduates, employees and the number of jobs in competition with your company’s positions.
Don’t rely on workforce analysis tools, we’ve tested most of them. Even though we’ve tried lots of tools, the results that we got when using such methods were always unsatisfactory.
Find out the potential of the workforce market for your business
If you are planning to grow or expand your business business and you are looking to extend your team, then a job force research will support your objectives. And if you already have decided that the labor analysis is what you need at this point, MKOR expert consultants are here to answer your questions.
Over time, MKOR specialists have conducted various market research for business looking for new talent in their workforce. The clients who benefited from trusted consultancy in this regard come from various industries: warehouses and logistics, construction, call center, and support services. Take a look at our portfolio, to grasp how the reports helped our clients.
For example, one of our client’ projects that benefited of our services was seeking the ideal area to open a furniture factory, while another project aimed at identifying the available blue-collar workforce in the area where their recently opened warehouse was situated. These type of studies employed the desk research methodology.
People at MKOR are professional, dedicated, mindful to customer needs, and who promptly and completely honor their contracts.
– Corina Săndulescu, Relationship Manager CT Park
We have used focus-groups in other client projects to help the company measure what millennials expect from the employer. In the focus-group we have tested employer branding concepts, thus helping our client to take a strategic decision.
Another complex employer branding study was Romania’s Favorite Employers. The analysis consisted of a complete diagnosis for 220 companies in Romania, with companies opting for customized reports from which they learned their own employer’s brand position in relation to their main competitors or to the entire industry.
MKOR works for your business
Workforce analysis requires many indices to be collected in order to get a complete overview of your target market. If your growing business is looking for people to hire, MKOR specialists may come in hand. Their expertise is appropriate for your needs, especially if you are looking to extend your team in Romania.
Our team has the knowledge of the local market, fluency in the local language and access to the best sources to deliver the insights you want.
Tell us about your business needs and we will answer in a short time!
