Wednesday, April 13, 2016

Cities With ‘Top Talent’ Win in Business Location Decisions

Today's Wall Street Journal carries an excellent story about the challenges companies face in finding locations that have employees with the proper skills. In my experience, talent availability is the top consideration in selecting communities as destinations for relocating or expanding companies.

US Map in BlueI received an email summarizing the story from Andy Levine, President and Chief Creative Officer of Development Counsellors International in New York. Its such a good digest that I'm passing it along (with his permission, of course) here:

“Firms Flock to Cities with Top Talent” is the headline of an article in today’s Wall Street Journal by reporter Lauren Weber.
For Salesforce and Cisco Systems, two companies profiled in the article, recent location decisions focused on a simple question: Where can we find the right talent? The article suggests companies are using new data sets to answer this increasingly important question:
  • A new tool called LinkedIn Economic Graph to identify the locations of potential job candidates with targeted skill sets
  • A close look at four-year universities and high-quality community colleges with relevant majors that can serve as feeder systems for a specific labor force
  • Review of online job ads to assess supply and demand for specific positions
In an interesting reversal, one unnamed aerospace company used “troves of resume and other data” to identify cities that had relevant workers with migration patterns that suggested a willingness to relocate for new job opportunities. They then spent their recruitment budget seeking to woo candidates from these talent-rich cities to their location in Seattle.
Read the full WSJ article here.

I thank Andy at Development Counsellors International, whose site is here.
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One focus of this blog has been to address California’s hostility toward business, as addressed in the new study, California Business Departures: An Eight-Year Review 2008-2015, updated Jan. 14, 2016.

Joseph Vranich is known as The Business Relocation Coach while the formal name of his business is Spectrum Location Solutions. Joe helps companies find great locations in which to grow. He offers an introductory consultation at no cost to help company leaders understand the Site Selection process and explore whether a project makes sense.

Joe is a keynote speaker on the benefits of relocating out of high-tax, high-cost, over-regulated states to friendlier business environments. For more information, see Biography and Speaking Availability. On Twitter, Joe is known as @LocationConsultReach Joe directly through his Contact Page