Talent is the new currency of economic development.
According to many site selectors, talent is the new currency of economic development: “Talent attraction is going to become more important than project attraction. There are going to be winners and losers,” says Darin M. Buelow, Principal, Deloitte Consulting LLP.
As of April 2019, unemployment has fallen to the lowest level in 50 years—causing many economists to consider the U.S. to be past “full employment.” While record-breaking job growth may seem like cause for celebration, for many companies it means an increased struggle to find, attract and retain talent. Now employers are putting pressure on economic developers to help them fight for talent across city, county, state and global lines.
This year, we surveyed 1,500 people (ages 21-74) across the U.S. representative of different industries and educational levels—ranging from a high school degree to master’s degree or higher—to answer the following questions:
- What motivates relocation?
- What are the top factors when considering a new job or location?
- How does talent learn about new job opportunities and communities?
- What information can communities provide to help in the relocation process?
Our research supports the importance of talent attraction marketing for your EDO. Visit our Talent Attraction Marketing services page to see DCI’s proven results and case studies.