We sit down with CEOs when discussing their office space requirements and growth of their companies. One of the most common frustrations we hear is, “It’s difficult to find the right talent.” The local Tampa Bay economy has been flourishing the past few years and continues to do so.
High demand for good people puts the employees in the driver seat when job searching in the market. In fact, Hillsborough County’s average annual wage of $54,278 is the highest among all Florida counties, according to Enterprise Florida’s State of Florida 2018 Average Annual County Wage Data Report. Pair that with the lower cost of living in Tampa and it makes for a very attractive place to want to work.
But how do you stay competitive when there are other companies fighting for and marketing to your employees?
By thinking beyond the space-and-place mindset.
It is one thing to actually land amazing, qualified people for your office, but it is another all together to keep those employees on the payroll, at their own choosing, well past their first work-anniversary.
One-third. That is the estimated amount of a lifetime that an average person will spend at work. When you factor in commutes to and from the office, it quickly adds up just how much of an employee’s day is actually work-related.
A survey by Fidelity reveals millennials, which make up the largest population of our current workforce, will happily take lower pay for a healthier work life, research shows. Do you still think it’s enough just to hire the best and brightest for your company?
Not if you want to keep said employees.
Having a culture where they feel heard, to be innovative and work for a purpose and greater cause then just a paycheck. You need the right environment to be a conduit of this type of culture. Spend time before you sign a property agreement identifying the aspects of your company’s culture that need to be reflected in the office space.
- Do you need an open floor plan? Or more formal, designated offices?
- Do you need a large kitchen? Or a small break room?
- Do you need a trendy, sleek exterior? Or a more traditional design and style?
By determining exactly what type of environment will best suit your employees before you lease office space positions you further along the road towards the happy land of employee retention far beyond the yellow brick road.