Employment Trends in DSM
During the Greater Des Moines Partnership’s Future Ready DSM podcast, guests share insights about the employment landscape for people entering the workforce, as well as those looking to advance or change their career paths with The Partnership’s Senior Vice President of Talent Development Dr. Marvin DeJear.
The most recent episode of Future Ready DSM welcomed Dave Leto, president and employee owner of Palmer Group, to discuss employment trends in Greater Des Moines (DSM). Leto also talked about long-term impacts on the workforce here and salary comparisons with other regions in the country.
Employment Trends in 2022
“Change is the only constant.”
In 2022, organizations are working hard to recruit talent in this market, but many are not located here. Companies on the coasts are paying higher wages than local employers and are poaching talented employees. While pay is a big factor, flexibility is also important. The pandemic highlighted that many employees want and need flexibility within their jobs. As the pandemic has waned, fewer people now are fully remote; instead opting for a hybrid work style. With less visibility on employees due to remote and hybrid work, employers are looking for new ways to measure staff activity. Another trend that continues among leaders and employees is that we all must understand that every single person has something else happening in their lives, things that are not work-related. Leto said that when it comes to our personal lives and what we have going on outside of work, both leadership and employees must be transparent. This helps bring humanity back into the workplace. Trust is continuing to be built on both sides, but as a leader, you must trust your employees to take care of the business and help you be successful.
Long-Term Impacts on the Workforce
In February, 4.4 million Americans quit their jobs. That’s 3% of the entire workforce. Over the next year, we’re going to continue to have more job openings than people. The labor participation rate within Iowa has and most likely will continue to stay flat. Leto said that the four-year colleges may see a drop in attendance as more companies think about offering their own training for technical jobs.
Salaries in DSM Compared to Other Regions
There are a lot of variations in pay, depending on location, industry, etc., but Palmer Group does its best to match candidates with the right positions. If Palmer Group has data on what a candidate wants in terms of salary and what a company is willing to pay, their in-house resources can put job seekers in touch with the right company and vice versa. Leto also highlighted that compensation, when considering the cost of living, is competitive in DSM.
For more information on how to connect with Palmer Group, whether you’re looking for a job, curious about the job market or ready to hire in DSM, visit thepalmergroup.com.
Listen to the entire podcast above.
The Future Ready DSM podcast brings Greater Des Moines (DSM) employment leaders and experts in to discuss the latest trends in talent attraction and retention in the region. Hosted by Greater Des Moines Partnership Senior Vice President of Talent Development Dr. Marvin DeJear.