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Workforce Longevity Model is an analytical tool built to assist our clients in estimating the potential length of a given labor market based on specific operational parameters (i.e. employment size, annual turnover and starting base wage rate). The model estimates the potential applicant pool in a market by factoring macro demographic data (such as labor force, population growth and unemployment rate) along with market-specific competitive data (such as competitive occupations, wage rates and turnover). By utilizing these and other factors, the model can:
- Estimate a market’s longevity
- Identify the primary sources of market depletion
- Find the optimal balance of center size and wage
- Assist a client with “What if” scenario-modeling
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