What Are Your Best Labour Market Data Collection Options?
There are two very different methods available to obtain workplace development data for identifying supply and demand trends, tracking employment progress, determining where money should be spent, and measuring job performance. Here’s how they can help you.
Your Best Workforce Data Collection Options
The tried and true method used to gather labour market data is Statistics Canada. StatsCan is, of course, an extremely reliable source of information that has been used for decades. While reliable and traditional data collected via StatsCan can - and should - be used to analyse demand and supply of the labour market, there are a few limitations to consider.
Limitations of Using Only StatsCan Data for Workforce Development:
- The StatsCan method of data collection is dependent upon employer surveys and extrapolated from a limited sample size
- Requires the timely cooperation of employers to truly capture the state of the industry, and only reports this data months after collection
- StatsCan data captures only one snapshot in time: if a trend needs to be re-captured, the survey needs to be repeated
- StatsCan cannot provide the granular data you need that is specific to your community
Vicinity Jobs for Relevant Workforce Data Collection
An alternative to StatsCan is the use of a real-time data collection product that monitors where most employers and job seekers actually interact — online.
Vicinity Jobs gathers relevant data that is timely, local, and highly detailed.
Because Vicinity Jobs acquires and analyses data that already exists online, the costs associated with obtaining the information for a specific market or trade are much lower. There are no labour or distribution costs.
By design, Vicinity Jobs can:
- Continually monitor job postings
- Extract the relevant data for your workforce development organization
- Construct reports to show where workforce supply and demand can be met in a given community
You can spend your time using this information to influence your community’s labour market and compare job market postings to job market vacancies in your region.
There is, of course, one more option for workforce data collection that combines the strengths of the two methods.
Statistics Canada + Vicinity Jobs for Workforce Data Collection
The data collected by Statistics Canada is accurate and controlled, and you are likely already familiar with how to access it, making it easy to use. Vicinity Jobs captures the data that Statistics Canada cannot; providing current trends through monthly/quarterly reporting, and uses third-party software to create tailored real-time reports. In fact Vicinity Jobs, relies on StatsCan because of its accuracy and reliability to collect data. Continue using StatsCan data, combined with up-to-date, community relevant online data from Vicinity Jobs, and you will have all your bases covered.
The Right Workforce Development Data Collection Tools
The tools that you choose to invest in should save you time and money so that you can:
- increase your effectiveness,
- meet objectives, and
- predict workforce development problems before they happen.
Not only will Vicinity Jobs provide information and real-time reporting on the labour market, it will also allow you to monitor your progress in implementing workforce development solutions.