According to a recent CBRE report, today’s employees are often willing to deprioritize compensation in favor of flexibility and opportunities to build skill sets. We focus on retention, attracting talent and building a strong workforce.
CBRE argues that companies should rethink their location plans and “replace a focus on individual countries or specific metropolitan areas with regional, national and global strategies.”
This, he said, “can unlock savings and benefit employees and businesses.”
Key principles companies can follow include minimizing quality trade-offs in favor of low-cost market employment. Consider hiring small teams remotely in more geographies. Move away from the “anywhere, anywhere” recruitment strategy. Consider “hub-and-spoke” deployments within metropolitan areas and across countries/regions. Focus on diversity, equity and inclusion.
One example is Ten-X. Its president, Stephen Jacobs, told GlobeSt.com that his company has been in Orange County for more than a decade and believes the area offers great opportunities and a great lifestyle, but recently moved to another part of the county. He said he had moved to a new headquarters. It also meets the needs and wants of today’s workforce.
“Recognizing that our employees are craving a more desirable work environment, we have prioritized locations that offer indoor and outdoor work options and connectivity, abundant onsite amenities, and better access to roads to and from work for our workers. ” he said.
Christy Pruitt-Haynes, Global Head of Talent Management and Performance at the NeuroLeadership Institute, a global neuroscience-backed consultancy that advises on workplace culture, leadership strategy, management skills, and DE&I, told GlobeSt.com In response, employees say they are demonstrating flexibility around their jobs. Location is important.
“So hybrid and remote work will continue to take hold, and we may see things move into the metaverse in some industries to increase the sense of connection and interaction in the real world,” she said. I was.
Banks established in non-traditional financial markets
Giles Wrench, vice chairman of financial services at JLL, told GlobeSt.com that the need for banks to grow beyond traditional financial hubs is not a new phenomenon and has been building portfolios for more than 20 years. increase.
“Our latest research shows that over the last 12 months, more than 51% of all U.S. financial services employment growth has been in non-traditional jobs, including new entrants such as Nashville, Orlando, Seattle and Austin. It’s been shown to be taking place in the financial centre,” he said.
“Looking into 2023, this trend is unabated as banks continue to seek new pools of technical talent and cost optimization.”