HR Daily Advisor recently published a bylined article by Marc Rind, VP of Product Development and Chief Data Scientist titled, “Benchmarking: An Important Tool in the War for Talent.” It discusses how the insights generated from benchmarking can help employers attract and retain skilled talent in today’s tightening labor market.
In the article Rind says, “It’s no secret we are living in a job seeker’s market. With unemployment at a 16-year low, the risk of employees considering other job opportunities is high. In fact, the ADP Workforce Vitality Report found that job switching in the U.S. during the 3rd quarter of 2017 was 27% – an all-time high. Additionally, nearly two-thirds of the global workforce is actively or passively seeking new job opportunities, according to the ADP Research Institute’s study, The Evolution of Work 2.0.”
Rind also discusses that as the world of work evolves, so are benchmarking tools. He says that benchmarking was done very broadly in the past but today’s tools include a vast array of job classifications, regions, and other demographics to benchmark against.
Read the full story to learn more about how benchmarking brings key insights directly to frontline managers.