Is Your Labor Market "on Sale?" So What—Is That Really New?

Is Your Labor Market "on Sale?" So What--Is That Really New?Aite-Novarica Group has been actively covering work from home, return to office, work from anywhere, hybrid work models, and similar workforce-related themes since the pandemic began. For the leading North American financial services firms Aite-Novarica works with, interest in these areas continues to grow.

Part and parcel of the discussion is recruiting and retention. One of the themes that my ANG colleagues have noted repeatedly is that some labor markets are on sale and some ANG experts have used, as an example, “the Midwest is on sale.”  During a recent discussion, a reporter asked me, “Hasn’t that always been the case?” The question is fair, but the world has changed. The concept of a labor market being “on sale” is not a Midwest issue—it’s true of any cost-effective geography with talent.

I’ll stick with using the Midwest as an example to drive the point home:

How to Take Advantage of Midwest Talent

Is Your Labor Market "on Sale?" So What--Is That Really New?

In 2022, financial services organizations need to be prepared for a fundamentally different dynamic in some labor markets. Friction points such as moving, new schools for children, and buying a new house have been reduced to levels never seen before. This is a different environment than it was before.

If you agree, disagree, or have additional thoughts on this subject, please reach out to me at [email protected].

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