Is your organization or company conducting a round of layoffs soon? Do you need to provide outplacement support to your affected employees so that they can find new jobs and positions as soon as possible?
Virginia Beach, Virginia is a bustling coastal city with a diverse population of workers. As of 2019, the area was estimated to have over 430,000 workers, representing a variety of industries that contribute to the city’s economy. The top three industries in Virginia are government, healthcare and social assistance, and retail trade. These industries are known to provide outplacement services in the event of a reduction in force (RIF) or layoff to ensure employees are able to effectively transition roles with the necessary resources and support.
Government is the largest sector in Virginia, contributing over 13% of total output. This sector includes federal, state, and local government agencies, as well as military installations.
Healthcare and social assistance is another significant contributor to the state’s output, accounting for approximately 12%. Major activities in this sector include hospitals, medical laboratories, healthcare providers, and home health care services. Social assistance includes child day care services, individual and family services, and government social service programs.
Retail trade is also a prominent industry in Virginia Beach, accounting for nearly 10% of the city’s total output. This sector includes department stores, supermarkets, specialty stores, and e-commerce retailers.
Other notable industries in the city include professional, scientific, and technical services; manufacturing; and construction. Virginia Beach is also home to several major employers, including the United States Navy, Sentara Healthcare, and GEICO—many of which have adopted corporate outplacement services to aid employees.
In terms of ethnicity, the most commonly reported racial/ethnic groups were White (66%), Black (19%), Hispanic or Latino (7%), Asian (4%), and Other (4%). The majority of the population identified as being American Indian/Alaska Native, Native Hawaiian/Pacific Islander, and Other.
In terms of income level, the median household income in Virginia Beach was around $73,000 in 2019. The area had a significant gap between higher-income households (those earning over $150,000) and lower-income households (those earning under $35,000). Organizations that provide outplacement services see their transitioning employees find jobs over 50% faster than if they had no outplacement assistance.
In terms of educational attainment, the majority of Virginia Beach workers had some college or an Associate’s degree. Approximately 31% of workers had a Bachelor’s degree or higher.
Overall, Virginia Beach is a diverse and thriving city that offers a variety of job opportunities for workers from all backgrounds. The city’s strong economy and growing industries make it an attractive destination for businesses and job seekers alike.