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E-Sonic Business Model

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Labor Market is vital for every company seeing that it relates to having the best employees within your organization. In fact, E-Sonic is no different, so they need to seek out skilled, knowledgeable and qualified workers for E-Sonic to be a success in all areas in their new business model. According to Martocchio (2013), E-Sonic must adapt quickly to the market shift by employing skilled workers with the knowledge of online marketing with marketing initiatives to operate their new and tech savy online music industry delivered to their current customers and future ones. Based on the Bureau of Labor statistics when it comes on to Software developers they obtain the median pay of $100,690 per year in 2015. There will be a 17 per cent increase …show more content…

In other words, when there is an increase in demand for labour, then salaries are likely to attract qualified workers at a higher price. Also, with companies raising their pay scale, it will attract the best employees for each job position. According to Martocchio (2013) E-Sonic will have to create a compensation package where employees will be guaranteed rewards for their contributions to the company in order to succeed in the new market venture. The U.S. Bureau of Labor Statistics release the growth stage of Computer and mathematical occupations in which they are projected to add 778,300 new jobs between 2010 and 2020, after having added 229,600 new jobs from 2006 to 2010. These figures represent 22.0 percent growth from 2010 to 2020, making the computer and mathematical occupational group the sixth-fastest-growing major occupational group. However, Computer occupations are much larger than mathematical occupations, accounting for 3.4 million of the total 3.5 million jobs in computer and mathematical occupations in 2010. Employment in computer occupations also is projected to grow faster than mathematical occupations, with growth rates of 22.1 percent and 16.7 percent, respectively. In fact, computer occupations are popular throughout the economy, its fast growth in computer system design and related services industry will continue to grow in this group; this industry accounted for just over 20 percent of all jobs in computer occupations in 2010, but will generate more than half of all new computer jobs from 2010 to

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