From the size of the desks and tables to the physical location itself, your office has a lot to do with your employees’ well-being, so much so that it could affect the type of talent you attract and retain.
According to Manpower Group, the talent shortage has reached a 12-year high. As companies are finding themselves embroiled in a tight talent race, many are starting to examine new ways to compete. One of the top strategies is to choose the right office location where the best employees are most likely to want to live, work, and play.
Here are a few of the top priorities to consider when selecting office space.
Distance of Commute
Work-life balance is a growing topic in the professional community. Employees are eager to trade long commutes for more time with family or friends, and they take distance into consideration when choosing a job. The more minutes they spend driving or sitting in traffic, the less time they have to enjoy the things they love.
For this reason, many companies are exploring the benefits of setting up shop in smaller cities or towns. Smaller areas can provide shorter commutes, while the lower population can reduce the number of traffic jams.
Cost of Living
It’s not uncommon for employees to be lured to big cities with big salaries. However, many of them find that their money simply doesn’t go as far in the city as it may in the suburbs. Housing and food often cost more, along with activities and transportation.
The cost of living is often cited as the main reason why people are trading big cities for smaller areas. They’re willing to take a lower salary in a smaller town if it means being able to stretch their paycheck further, and that’s good news for businesses, too!
Availability of Housing
It’s no secret that places like San Francisco and New York City are experiencing housing shortages, but they’re not the only ones. Even small towns can have slim pickings when it comes to housing, which could deter top talent from relocating to an area.
Granted, housing can be a volatile market. While you may choose a location that seems promising now, the housing outlook could be vastly different in 10 years. It’s important to look at the overall image of an area, including new developments and construction, to see how it might impact the area in the future.
Opportunities for Families
Employees with a spouse and children will consider their family’s needs prior to accepting a position that requires relocation. Finding a city that provides ample employment opportunities, good schools, and plenty of family-friendly activities can make your location appear more favorable to prospective talent.
At Office Evolution, we’ve carefully vetted each of our territories to help businesses leverage their location for employment opportunities. We’ve established our office space for rent in areas with a strong reputation that are primed for growth. Explore our private office solutions today and discover how you can compete for your industry’s top talent.