Using Workforce Data and Technology to Engage Prospects
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The document discusses the use of workforce data and technology to enhance site selection for economic development, emphasizing the need for smarter software solutions. It identifies the key drivers of company relocation, highlights important factors for location ranking, and outlines how site selectors access necessary information. Additionally, it details the role of EMSI in providing granular labor market data and presents strategies for economic developers to leverage GIS and digital platforms effectively.
Using Workforce Data and Technology to Engage Prospects
- 1. 1 USING WORKFORCE DATA AND TECHNOLOGY TO ENGAGE PROSPECTS Smarter Software for Communities December 9, 2014
- 2. 2 Your hosts Ben Wright CEO, Community Systems Atlas Advertising benw@communitysys.com www.twitter.com/communitys ys Nick Herman Senior Project Manager Community Systems nickh@communitysys.com Andrew Postell Vice President, Sales EMSI apostell@economicmodeling .com David Stinnette Business Development Community Systems davids@communitysys.com
- 3. 3 Our mission: To power intelligent location decisions.
- 4. 4 By powering the world’s best economic development websites, GIS, and prospect response systems.
- 6. 6 Data, technology, and agency partners this requires:
- 7. 7 USING WORKFORCE DATA AND TECHNOLOGY TO ENGAGE PROSPECTS Smarter Software for Communities
- 8. 8 Questions we will answer today: 1. What are the top criteria for site selection today? 2. How do site selectors and prospects find this information? 3. What workforce data is available that can drive location decisions? 4. What is the best way to deliver that data to site selectors and prospects? 5. Q+A
- 9. 9 Trends in business location decisions: • Information companies have gathered has remained relatively constant • The time frame they are making decisions in has become dramatically shorter • Companies have cash to make investments now – and they are doing so. Deal flow has been very high the last two years
- 10. 10 Top drivers of company relocation today: Driver # of Mentions Percentage Growth/Access to 21 31% Markets Lower Costs 14 21% Labor/Talent 11 16% Real Estate 6 9% Transportation/Logistics 6 9% Quality of Life/Amenities 3 4% Be Closer to Suppliers 2 3% Unions 1 1% Separate from HQ 1 1% Incentives 1 1% Investment Partnership 1 1%
- 11. 11 Most important factors in ranking locations: Factor % Important Ability to recruit workforce 86.4% Access to technical/scientific workforce 83.3% Low overall cost of doing business 69.6% Pro-business tax/regulatory climate 62.5% Financial incentives from communities 62.1% Access to senior management talent 59.1% Proximity to a research university 54.5% Access to national or international air service 53.6% Quality or fit of specific real estate 53.6% Quality of life for employees 50.0%
- 12. 12 How do prospects and site selectors find this information? Source % Important Third party national data sources 88.9% Past experience with other deals 85.2% Site visits (familiarization tours) 81.5% Existing relationships with economic development officials 77.8% Community websites 61.5% News stories about communities 59.3% Word of mouth from your peers 48.1% Existing relationships with local real estate community 42.3% National conferences 33.3% Social media/social networks 32.0% Calls from local officials 29.6% Trade magazines 7.4%
- 13. 13 WHAT DATA IS AVAILABLE TO HELP PROSPECTS MAKE DECISIONS?
- 14. 14 What data is available that relates to workforce from Community Systems? Demographic, Degrees Occupations, Business, Workforce Conferred Wages Data Business Location, Workforce Data Unions Employment, Revenue
- 15. 15 Who is EMSI? • Economic firm • 117 employees, US and UK • Located in Moscow, ID • Established in 2001 • Acquired by CareerBuilder 2012
- 16. 16 We provide granular data to the zip code level: Industries Occupations Education What does EMSI Do?
- 17. 17 Who does EMSI Work with? Higher Education Workforce Services Economic Development Private Sector Consultants
- 18. 18 Why EMSI Data? 1. Unsuppressed LMI data 2. Self-employed & sole proprietorships 3. MSA, County, ZIP codes for nation 4. Quarterly updates 5. Complete Data set
- 19. 19 How EDO’s Use EMSI Economic development plans Business or industry recruitment Evaluate performing industries Evaluate current industry mix
- 20. 20 WHAT IS THE BEST WAY TO DELIVER THIS DATA TO SITE SELECTORS AND PROSPECTS? Smarter Software for Communities
- 21. 21 Scenario: Initial prospect location search for a data center 1. A Business Developer is on a call with a prospect, on an introductory phone call. 2. The Business Developer asks prospect what they are looking for in terms of properties – land to build a data center. 3. The Prospect asks: We will need very specialized technical workforce. Can you show me properties that are data center certified, near a technology school? 4. The business developer produces that information within 15 seconds. 5. The prospect then asks and what they will need to pay for Fiber Optic Central Office Installers. 6. The Business Developer produces a report within 10 seconds that answers that question.
- 22. 22 HOW INNOVATIVE ECONOMIC DEVELOPERS ARE USING GIS TODAY Smarter Software for Communities
- 23. 23 Digital Economic Developers Use Their Website and GIS Property Database as A Conversion Tool to Have Real Conversations
- 24. 24 Digital Economic Developers Have a Vision for the Future, and They Are Practical About Finding Time Saving Ways to Get there. The Industry Can Choose a Disorganized Set of Disparate Systems… Or a Coordinated Set of Systems, Optimized Website Analytics CRM, Prospect Responses GIS and Data Management Business Retention for Economic Development
- 25. 25 Digital Economic Developers Make Their Digital Initiatives an Organizational Imperative. Website Analytics CRM, Prospect Responses GIS and Data Management Business Retention 1. If your staff works on a common platform, designed to optimally create, publish and manage content efficiently… 2. And that system is designed to convert casual browsers into real prospects… 3. That you can respond to quickly and with built in property data, demographics, in a secure environment… 4. And management can review the progress of the team with real time analytics…
- 26. 26 WHAT NEW THINGS IS THE COMMUNITY SYSTEMS TEAM WORKING ON? Smarter Software for Communities
- 27. 27 The World’s best mobile first User Experience for GIS
- 28. 28 That Can Also Work for the World that Still uses Desktop Computers or Laptops
- 29. 29 Generating 4x the Leads for Business Developers Property Details Create Saved Items Create Leads Data Snapshots Create Interest Leads Staff Contact Information Drives Leads
- 30. 30 More Data, More Reporting Tools for Researchers
- 31. 31 Tools that Drive the World’s Best Digital Economic Development Organizations Website Analytics CRM, Prospect Responses GIS and Data Management Business Retention
- 32. 32 Q+A
- 33. 33 Thank you and stay in touch! Smarter Software for Communities 929 Broadway Denver, CO 80203 Contact: Ben Wright t: 720.420.3800 x 210 benw@communitysys.com www.Communitysys.com
Editor's Notes
- #30: Why to do this? To have separate sites is to reduce time on site by half. To have separate sites doubles marketing costs. Together, you get ¼ the impact with separate sites per marketing/business development dollar you spend.
- #32: Manage business retention, entrepreneurship, business recruitment in one place.