Twenty-nine companies that relocated to Greater Reno-Sparks and existing local companies that expanded their workforce this year, were honored at EDAWN’s “New and Expanded Companies” welcome reception on December 6. 2018 was a year of record set in technology growth and corporate headquarters, both very strong indicators that our economy continues to move in the right direction.
It is difficult to predict precisely how many new jobs will need to be filled in the next five to 10 years, but it is a lot, and it is clear that the quality of the workforce will need to improve and that wages will increase as competition for skilled employees intensifies. This fact is now manifesting itself as employees change jobs and become more focused on upgrading their skills.
The combination of a lower unemployment rate and increased number of jobs means employers now need to focus on retaining employees. As opportunities abound, employees are enticed to leave. High turnover rates aren’t good for business — one employee turning over can cost a company close to $50,000 in recruiting, training and lost productivity costs.
Things are heating up in the Reno area as the nation’s largest provider of solar power officially announced its arrival in Northern Nevada. SolarCity launched its service in Reno, Sparks and Carson City on February 17, allowing customers to start placing orders for solar panel installations. The company’s entry into the area further expands its footprint in the Silver State. Nevada became the 15th state served by SolarCity after it launched in the Las Vegas area in May of last year.