The Importance of Company Location

Feb 15, 2023 | Blog

Although the importance of company location has become somewhat obsolete over the last few years, it is still an important factor for any business. Many companies that are situated in small and midsized cities and towns are proving that investing in strategic locations remains a massive attraction for top talent.

Businesses located in these small towns and cities have struggled for many years to both attract and retain employees. Developing an effective talent strategy has become extremely important as the race to recruit top talent is more competitive than ever.

Over the last few years, workplace requirements have completely shifted. Employees tend to come together on-site to collaborate and interact with fellow colleagues while buckling down remotely when it comes to meeting deadlines and getting day-to-day activities done. The Covid-19 pandemic also drove employees to seek smaller, more affordable work locations.

Companies that find themselves in these small towns and cities have benefitted from these changes and have now created compelling and effective value propositions for their specific workplace. There are six factors that have proven to be beneficial in making these companies’ office locations more attractive to new talent:

Transport Solutions
Companies are putting more thought into ensuring that there are mass transportation options and connections in and around the company as an attraction for top talent.

Workplace Design
Companies are showing more of an interest in creating and designing innovative work environments to allow for effective employee interaction and collaboration, in an effort to encourage employees to come to the physical space.

Cultural Experiences
By investing in local cultural offerings, companies are striving to create more fun and recreational experiences for both their employees as well as local residents. This is being done through collaborations with institutions such as local museums and art collections.

Sporting and Leisure
Companies are also starting to include a variety of sporting and leisure activities to assist in balancing work and life balance for their employees.

Sustainable office sites seem to be one of the biggest attractions for employees. Sustainability is being supported through the use of innovative technology as well as environmentally friendly building materials and methods.

Community Ecosystem
Companies are starting to expand their ecosystems to locations that are closer to universities and various start-ups to enable further networking and knowledge sharing. This will assist these companies in creating a more streamlined pipeline of new talent.

Having an effective and attractive physical office location is only one of many aspects necessary to create a  successful talent strategy. Companies should also investigate their current strategy and allow themselves the needed room for growth and adaptability to the current market.

Some of these key elements include taking a closer look at their corporate image, culture, salary, and various career opportunities, which all form part of what attracts and retains talent.

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