How Talent Analytics Jumpstarts Your Location Strategy

Successful organizations all have one thing in common: they know that the key to winning in an increasingly challenging market lies within recruiting the best talent available. However, whereas successful organizations used to get by recruiting within just their local metropolitan area, today’s more competitive talent market paired with more flexible working arrangements has both enabled and necessitated that businesses work to attract talent from a broader geographic area across the globe. 

With so many potential cities, states, countries, and regions from which to recruit, business leaders are looking for ways to optimize the geographic footprint of their workforce to reduce overall costs but still recruit the best talent possible. To effectively do so requires developing a comprehensive and talent-focused location strategy. Horsefly Analytics’s Global Labor Market Intelligence platform provides its users with the location-based insights required of an evolutionary talent-first location strategy.

Defining Location Strategy

Location Strategy is a term used to describe an organization’s cross-functional efforts to identify those geographies or markets where establishing, growing, or shrinking operations may best position the organization to support its critical objectives.

How Horsefly Can Help
Those organizations and practitioners looking to develop a data-driven location strategy can leverage the Horsefly Analytics’s Global Labor Market Intelligence platform to equip themselves and team with the labor market intelligence necessary to provide macro and micro talent market insights. By utilizing the Horsefly platform, organizations can better understand the size, distribution, and makeup of critical talent pools, as well as identify the primary talent competitors within each specific market to enable their efforts and build location-specific go-to-market talent strategies.

Relevance to the Organization
An effective talent-first location strategy is a critical component to ensuring that an organization is best positioned to support their immediate and future goals and secure long-term success. By establishing such practices, organizations gain an advantage over competitors by best-positioning their workforce and operations to achieve organizational objectives. In periods of growth, organizations informed by location strategy analyses can identify lower-cost sources of talent, as well as identify less-competitive or untapped talent markets, helping to optimize workforce costs, provide necessary headcount, and enable strategic growth.

Conversely, organizations looking to optimize their existing footprint and ensure long-term business continuity may proactively assess and identify where current areas of operation are no longer supporting their needs or are not projected to provide sustainable sources of talent into the future.

When these locations are identified, businesses can strategically withdraw before there is a need, taking care to reallocate both financial and human capital resources to other locations better positioned to support their business.

How to Utilize Horsefly

When looking to establish a talent-first location strategy, Horsefly customers can:

• Leverage the platform’s talent supply and demand data to identify the ideal location(s) for sourcing critical talent, as well as assessing whether current sources of talent are still meeting the needs of the business.
• Utilize the platform’s salary information to inform internal compensation practices and build a competitive advantage.
• Assess the demographic composition of specific talent pools to support organizational diversity and inclusion goals.

With the workforce transition over the last few years from a mostly office-based and onsite workforce to a hybrid or even fully-remote model, the importance of location strategy has only grown. Sourcing and hiring top-tier talent - being mindful of cost-of-hire - has been a central element of modern talent planning discussions. Horsefly Analytics global talent intelligence platform provides several sources of data to support companies in their location strategy initiatives.

Look into the future of hiring with the most accurate labor market data and analytics available. Click here to get a free labor market assessment today! Supercharge your talent acquisition strategy with Horsefly Analytics.

We look forward to partnering with you to help you best leverage Horsefly’s talent analytics and labor market data to make smarter hiring and strategic decisions within your organization. For a limited time, get a FREE custom labor supply & demand report from the experts at Horsefly Analytics and stay ahead of the competition. Sign up here.