What is location analysis?
Location analysis evaluates a location’s potential, namely in terms of labor market supply, labor costs, workforce demand, and competitors.
What are the components to take into consideration for location analysis?
As part of any location analysis, organizations need to consider aspects such as:
- Talent pool availability
- Cost of living and doing business
- Real estate opportunities and costs
- Available infrastructure such as transportation, technology, etc.
- Quality of life, which is especially critical if relocating current employees
- Government incentives
How can you measure your competency framework?
The most common method for measuring a competency framework is a 360-degree assessment. In this method, employees first rate themselves on their performance at work. Second, superiors or managers are asked for employee performance feedback. Finally, the average of both assessments is taken to determine which areas employees should work on to become more effective.