Founded by Mormons as a safe haven in the mid-1800s, Salt Lake City’s population grew rapidly in the first
century of its existence, boosted by the trifecta of migration by LDS disciples both nationally and internationally,
advent of mining and development of settlements in and around the region, and construction of the first transcontinental
railway during the industrial revolution. The latter helped SLC solidify its role as the economic crossroad of the
western frontier, enabling the development of industries to include banking, fintech, biotech, cloud, ecommerce,
mobile and beyond. Today, SLC is not only the industrial banking center of the United States, with seven of the top
10 consumer loan banks headquartered in the area, it also plays a prominent role in both the fine arts and healthy
living, hosting a who’s who list of artists and celebrities for the Sundance Festival each summer, and, in winter,
intrepid tourists ready to tackle Park City’s phenomenal ski runs.
The greater Salt Lake City metropolitan area, which also encompasses Provo and Ogden, has historically wrestled
with nearby Denver, Durango, Las Vegas, and Boise for talent. However, the Great Basin’s abundance of challenging
outdoor adventures and pace-of-life have drawn a flood of entrepreneurs from near and far, ready to tackle their
next challenge—both personally and professionally. This influx has sharply trended upwards since 2010, with many
established technology companies shifting their engineering, R&D and customer service to Silicon Slopes to take
full advantage of its bountiful employment market and lower compensation rates.
The influx of university grads and experienced hires has put SLC companies on high alert, keen to avoid becoming
the latest victims of their own economic success. Having witnessed the challenges of its well-established sister
technology hubs, from Silicon Valley to New York and everywhere in between, SLC startups and Fortune 500s alike are
already beginning to turn their people ops focus on to talent retention, leadership development, and long-term
succession planning. Staying ahead of the market in compensation, perks and value proposition (i.e., employment branding)
will be the name of the game for the next few years.
Recent successes in both executive search and startup HR consulting in the Provo and Durango areas, combined with our
20-plus years of global HR expertise in the breadth of people and talent disciplines, has given our senior HR consultants
the tools and knowledge to help SLC companies proactively manage their people problems through the current era of explosive
revenue and headcount growth. Whether you’re looking for leadership development and executive coaching, due-diligence for
an upcoming acquisition or divestiture, a revamp of your compensation philosophy and programs to get ahead of the market
curve, or a new Senior Vice President of HR or Talent Acquisition to bring outside-the-box ideas to your talent management
initiatives, we know the HR market here better than every other firm.