This article from NBC News caught my eye – Your job prospects depend on where you’re looking. The article points out that there are several states with very high unemployment. For example, California is at 9.6% – almost 2 percentage points above the national rate. While other states, like North Dakota, have an unemployment rate of 3.3%. It raises the question are people prepared to move to cities where jobs are being created?
I’ve always been of the mindset that there are 3 ways for companies to get the talent they need. Organizations may use some or all of these in their talent strategy.
- Build – This is achieved by developing individuals within the organization. Replacement planning, succession planning, training and development, coaching and mentoring are all strategies used to help employees build the skills they need to move into positions as they become available. There are tremendous advantages to building talent, one of the biggest being – they already know the corporate culture.
- Buy – If an organization doesn’t feel they have the capacity to grow their own talent OR if the business feels they don’t have the time, then they might choose to hire a person from the outside with the necessary skills and experience. I’ve also worked for companies where they made a conscious decision to buy talent because they wanted a fresh perspective.
- Borrow – Depending upon the situation, it can be very beneficial for companies to partner with external consultants or strategic partners for talent. The decision to borrow could be based upon how long an organization feels they need this level of talent. For example, it could make sense to borrow talent for the start of a project with the idea that an internal person will take over at a certain milestone.
So let’s say Mary lives in California and is looking for a new job. A company in North Dakota is hiring. This ND-based company has all the qualities of a best-in-class employer. The question becomes is Mary going to leave California for North Dakota. I think this is a tough call. And we’re not just talking about the weather.
I believe if this hypothetical ND business can’t get the talent it needs within the state, they’re going to be forced to get creative. If Mary is an ideal candidate, they might have to offer telework. If they really want Mary to relocate to North Dakota, maybe they have to pay a little more or offer some additional incentives. But I’m not completely convinced that candidates will automatically move (even when incentivized) to where the jobs are.
There are so many factors involved in the decision to relocate than just the job responsibilities. People want to live and work in cities that have culture and education. They want to be a part of communities that are diverse and inclusive. Ultimately, I can’t help but think the decision will be less dependent on job creation and more about the city itself.
Image courtesy of HR Bartender1