HR Glossary

HR terms frequently used by HR professionals.

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Location analysis  

What is location analysis?

Location analysis evaluates a location’s potential, namely in terms of labor market supply, labor costs, workforce demand, and competitors.

What are the components to take into consideration for location analysis?

As part of any location analysis, organizations need to consider aspects such as:

Talent pool availability
Cost of living and doing business
Real estate opportunities and costs
Available infrastructure such as transportation, technology, etc.
Quality of life, which is especially critical if relocating current employees
Risks
Government incentives

How can you measure your competency framework?

The most common method for measuring a competency framework is a 360-degree assessment. In this method, employees first rate themselves on their performance at work. Second, superiors or managers are asked for employee performance feedback. Finally, the average of both assessments is taken to determine which areas employees should work on to become more effective.

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