In light of the coronavirus pandemic and the potential for other global health crises in the future, industry leaders will need to ensure that their workforce and process will be nimble enough to adapt and continue their functions as usual. As companies throughout the world continue to assess their operations, we should anticipate a few changes with the technology sector, specifically. Because collaboration is key for tech companies, they should be prepared with a resilient workplace in order to stay ahead in the market.
The Future of the Collaborative Workplace
Planning for future growth always needs to include considerations for risk mitigation. The office site selection process will likely undergo a series of changes in the years to come. Taking a closer look at location modeling and partnering with an experienced site selection team can help tech executives, in particular, find the solutions that make the most sense for the company culture and ongoing talent procurement.
1. Office Space Structured for Meetings
Despite past imperatives to adhere to the social distancing guidelines, we know that some firms have an ongoing need for their employees to work together in an office setting. This is especially true for the technology sphere, where security is a top priority. The value of having dedicated office space for meetings, conferences, and other collaborative endeavors cannot be disputed. Being able to have enough square footage to comfortably conduct projects together will help ensure that companies maximize their productivity.
2. Remote Talent and Work from Home
The trend of team members working remotely was on the rise even before the coronavirus pandemic, so we can expect these structures to continue in the coming years. Consequently, tech companies will want to investigate any associated economic development incentives for hiring in certain areas—even remotely. States and communities that are eager to add new jobs could be offering useful economic incentives for tech companies that are looking to expand, and organizations that can work with a well-versed team for incentive procurement will be in a strategic position for capitalizing on new and emerging talent. Competition in the tech industry has always been aggressive, and the companies that can build effective teams swiftly will have a long-term advantage in the market.
3. Multi-Site Location Modeling
We are also beginning to see a transition away from larger cities. Recently, job seekers have spurred a sort of urban exodus in favor of smaller metros. The long commutes, dense populations, and high costs of living in major cities are no longer appealing to millennials. Savvy tech executives may be interested to follow this realignment with their own real estate portfolios. An office relocation or an entire corporate restructure could benefit everyone in the company from a cost perspective.
Opting for more locations with fewer employees could help tech companies protect their real estate costs. All the while, they would be attracting talent to the firm because the surrounding area can offer a great quality of life, with a less hectic environment and better affordability. Instead of having one or two large office buildings or locations with 1,500 people, it may be better for tech companies to weigh the possibilities of having multiple sites with 500 people.
When organizations are questioning their future development, running through multiple contingency plans is crucial. For relocations, expansions, or other operational changes, analyzing these three types of location modeling scenarios can help ensure a prosperous future for the firm’s goals, as well as the wants and needs of their valuable employees.