Finding Skilled Talent in New Markets
- sq. ft.
- Financial Services
- Location Strategy & Economic Incentives
This Bay-Area, 300-employee company was growing quickly. Their business was dependent on hiring, training and retaining highly skilled workers, a supply that was dwindling in their existing market. They hired Cresa to help identify other markets to best source the talent for their employee expansion.
Cresa first approached the analysis by analyzing the current operating model and labor requirements, through three phases:
- Calculating the company’s turnover cost
- Developing a cause-and-effect model for increased employee turnover
- Organizing the company’s success criteria
With the current operating model and success criteria well defined, they then outlined several operating designs, evaluating 3,064 North American markets.
Through comprehensive analyses and discussions, Cresa was able to help their client identify a major Midwestern city as the market for future North American growth. A consolidated operation coupled with the newly-selected labor market supported the consolidated facility operational design.
- Cresa’s analyses identified the 25 best combinations of optimal operational designs and markets for the company’s growth opportunity which were then narrowed to 10 after further sensitivity and scenario analyses.
- Market tours allowed company executives to meet with state and local economic development officials, current employers and recruiters in each market and attend site visits.
- Job fairs helped solidify recruitment estimates in top markets.