Labour market information
Good information can help you make good decisions.
Labour Market Information (LMI) gives you access to job details, salaries, current employment conditions and emerging trends, the cost of living and many other insights. With LMI, you can make better, more informed decisions about hiring, retaining and developing your workforce.
LMI may seem complex, but in fact, you’re probably already using it. If you have ever asked colleagues in other organizations what they pay their employees or searched job listings to check the salaries listed for positions similar to yours, you’re collecting and using LMI. LMI can come from within the organization, too. For example, you might track the number of hours each employee works, the turnover rate for employees and volunteers or the number of employees who will be retiring soon.
LMI can be very helpful in guiding an organization’s strategic planning or in preparing requests for funding. With current, reliable information, you can plan for the costs of service delivery and predict your future staffing needs more accurately.
And for day-to-day human resource management, LMI can be particularly valuable for staffing processes such as creating a job advertisement, determining a reasonable compensation offer, interviewing candidates and retaining workers once they have been hired.
In the near future, StepUp BC will provide ongoing access to LMI data in this section of the website as well as guidance to help you make the best use of it.
In early 2014, StepUp BC undertook a comprehensive survey of non-profit organizations across the province, and the survey results are now avaliable. You can download the LMI report below.