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Market Research for Talent, Part 3: Understanding Industries and Their Competition

December 20, 2018 by Rob Sentz

 This article is part three in a series where we discuss simple ways to use labor market data to build your talent strategy. 

Wherever you decide to search for talent, you should consider your competition.

Scenario: You decide to move your search for graphic designers to D.C. In this case, what other industries or businesses employ graphic designers?

Answer: The largest portion (7%) of all graphic designers in D.C. work in the computer systems design services industry (our direct competitors). The bulk of the rest work in administrative management and general management consulting services (6.9%); public relations agencies (6.1%); the federal government, civilian, excluding postal service (5.7%); and graphic design services (5.1%). 

Real-World Example

An insurance company used Emsi’s labor market analysis to identify companies competing for registered nurses. The company then broadened its recruitment strategy, even recruiting directly from companies outside the insurance industry, and monitored industry trends in order to protect its new talent. 

Case study for further reading: Emsi for Economic Developers, Part 1: Using Analyst for Site Selection Requests

If you have questions on how to get started, please let us know. We are ready to help! 

Rob Sentz is the chief innovation officer at Emsi. Contact him at rob@economicmodeling.com

Rob Sentz

Chief Innovation Officer

Reach out at rob@economicmodeling.com

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