Glossaries - Report Companions: Market Research Edge - Employment Metrics
1. Employment Class statistics give a more layered perspective on staffing and employment trends than traditional Average Employment Statistics (Market Research Edge #9).
2. BizMiner's national and metro Market Research Profiles break out employment class data for two different groups of firms and in two different years to develop a trend comparison: all industry establishments and "survivors" (firms which were already in operation in the first year of analysis and maintained operation through the end of the time series). The "all firms category" includes firms which are new to the local market (because of age or relocation) in the interim.
3. While average employment data points to broad local or national industry firm trends, the Employment Class tables show how growth has been concentrated among firms in an industry. This information, in turn, deepens the assessment of whether to target an industry or area - or just a few firms in it.
4. By looking at the Employment Class tables, it is also possible to see whether growth is coming from longer-term firms (the "survivors") or newer entries into the market. Since the Employment Class tables break out the change in staffing patterns, the concentration of leaders and laggers in each segment can be ascertained more specifically.
5. Employment Class data also lets you see how the composition of the industry is changing. Are large firms taking over? Are smaller firms holding their own? The answers inform targeting efforts, both local and national. Once targets are identified, follow up research can include obtaining lists of those firms or establishments that fit specific employment class criteria derived from the Profile analysis.
6. Conclusion: Differentiating industry and area targets by segment is critical to sound marketing research and a solid marketing plan. Employment Class data segmented by industry group and size, geographical area and firm maturity (survivors) are key to your analysis of industry customers and competitors. Employment Class trends provide another tool to hone your marketing plan.
Average Employment tables are included in every one of BizMiner's 900,000 online Market Research Profiles, available for over 15,000 business segments. Market Research Profiles are available in both national and local versions covering over 250 US metropolitan areas.