Make Market Analysis A Standard HR Practice

We are all so close to our own business goals, growth plans, and yearly budgets that we forget to look up and realize that the world around us has changed. This is often the case for your HR team. A position comes up and we assume that our old rates are good enough. But who do we ask? 

A labor market analysis is a crucial first step before posting a position on any job boards. If you rely on periodicals, blogs, and journals to provide you the intel you are seeking, your information is already out of date and irrelevant. This will not be beneficial to your business in the long run.  

This is where Balanced Diversity Solutions comes in. Our business is your business. It is our business to know who is hiring, who is moving in (or skipping town), and what their compensation packages look like. We gather and utilize this information every day to coach candidates through their career opportunities. Let us also help you analyze the relevant information to get you the best results. 

Here are a few of the many reasons that partnering with Balanced Diversity on a market analysis should be your first stop before posting your new position: 

• We have industry renowned digital tools to deep dive into real data

• We know when companies are ramping up their staffing and snagging top talent

• We can provide salaries for like or comparable positions

• We propose salary adjustments based on current trends

• We can recommend related skills and experience to expand your candidate search

• We know what the candidate pool looks like and can give you a realistic expectation of available talent and time to hire to better plan your business needs

• We can suggest when flexible workforce and outsourcing are a better option