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How do you conduct a reliable labor market survey? Define your objectives. Choose your sampling method. Design your questionnaire. Select your data collection method. Analyze and report your data. Evaluate and improve your survey. Heres what else to consider.
What is a labor market survey? A Labor Market Survey is a survey of employers that provides information about job openings, wages and potential employment opportunities.
Verifying this information happens in a few ways. Some hiring managers do it themselves, docHubing out directly (typically via phone) to your current or previous employers to request official verification.
Three key measures of labor market activity are the unemployment rate, the labor force participation rate, and the employment-to-population ratio. Changes in the unemployment rate reflect movements in the labor force participation rate and the employment-to-population ratio.
Identify the area within which employers are competing for labor. Conduct or participate in market surveys within the labor market to determine the salaries being paid for specific positions. Work with management to validate the market areas, market competitors, and job matches (benchmarks).

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Generally speaking, labor market analysis involves the following processes: Identifying the various labor markets for a given type of position. Checking the market for salaries for a common position. Determining market trends. Adjusting salary packages or structure of positions. Making consultations with management.
Employers who fail to respond to federal employment-verification requests can suffer fines and denial of government contracts for up to one year. Failure to complete an employment-verification request from another third party can dilute trust with current and former employees alike.
No matter what you decide to conduct your market research on, these tips will help you make sure your market research survey is on the right track. Define the problem. Establish research objectives. Target the right audience. Decide on your margin of error. Set timelines. Use resources and tools to help you.

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