What’s the problem?
People are re-thinking where and how they work, and skills are becoming available in new places and will be accessed in new ways. Remote work has had far reaching implications on our workforce and on our approach to real estate. And the changing environment means targeted action on carbon footprint of a company is no longer about being socially aware, it’s a necessity for the environment and for talent attraction.
Companies are now reconsidering the best locations for their workforce.
What can organisations do to address these challenges?
Whether growing their real estate footprint, entering new markets, or consolidating, leaders need to understand the infrastructure to support working in a different way. Understanding the key social, economic, and geographic factors of a workplace location is fundamental to delivering long term business success.
Businesses success relies on having the right people, in the right place, at the right time and at the right cost. So, location data must be married with data around the workforce – the market intensity, availability of skills, local diversity mix as well as the cost of office space, infrastructure, internet speed, commuter times, the availability of co working spaces and how innovative a place is.
Understanding the carbon footprint of locations is easy to do, the data is available. But without marrying this data to the workforce ill informed decisions can be made. Companies can shape their workspaces around the needs of the talent pool to create the optimal mix of remote, virtual, agile, and office-based working.
If companies do not look through all these lenses to make decisions, they are not seeing the big picture and risk making ill informed decisions.
Using big data to inform decision making
At Stratigens, we believe that to get the whole picture, companies must have:
Data on these six areas for accurate location planning through at least these 23 data points:
- Supply and demand for the skills needed:
- The number of people with the skills needed in a location
- The number of active adverts for the skills needed in a location
- The online sources of profiles for the skills needed so talent acquisition teams can focus sourcing and engagement efforts
- The salaries on offer companies can see how competitive (or not) they are in relation to the external market
- The experience levels of people in a location
- Which companies are competing for the same talent:
- Which companies have the most people with the skills needed so talent acquisition teams have a target list for attraction and hiring
- The industries that employ the most people with the skills needed, so hiring managers can see aligned verticals for acquisition purposes
- Information about the workplace:
- The cost per desk of commercial property
- The quality of the infrastructure to support travel and remote working
- The carbon footprint impact of real estate and commuting in a location
- The number of co-working spaces that could support a collaborative working
- The risk and economics of a location:
- The ease of doing business
- The level of taxation and burden on time
- The effectiveness of a government
- The risks of corruption and war
- The economic health and growth forecast
- The employment legislation in a location:
- Regulations and minimum requirements for statutory pay and leave
- How unionised a workforce is
- The relative cost to exit a location in the event of an unwind strategy
- The environment for innovation, start-ups and research and development:
- The number of patents and spend on research and development
- The start-up ecosystem and support network
- The global impact of innovation
- The number of co working spaces to support collaboration
And lastly, technology that interprets the data and gives recommendations based on the whole picture. (a site location plan is an essential part of this picture)
Stratigens gives business leaders external data to connect the dots between strategy, location, business continuity and skills. We've done the hard work of analysing thousands of credible data sources so you can answer questions on skills supply, real estate, diversity and market entry. We provide the evidence to enable quicker critical business decisions, revolutionised in their logic and simplicity. The Stratigens Software Platform includes location plan for planning optimisation to ensure you make informed decisions.
To see a short demo of Stratigens, click here.