Attracting Tech Companies and Talent in 2018
The tech industry is the commercial real estate industry’s biggest customer accounting for 20% of major leasing activity in 2014. Incredibly, technology related jobs were responsible for one-fourth of all new office jobs created in the U.S. between 2009-2014. All these new office jobs need office space to work in, so these trends are having a major impact on commercial real estate.
Our economy has undergone a complete transformation with a shift toward innovation, technology, mobility, and agility. Moreover, in contrast with the tech industry of the dot-com days, tech companies today have a multitude of feasible location options available to them. This means that tech companies are leading the pack when it comes to creating productive workspaces that inspire and retain talented employees, and commercial real estate investors can now ride this tech wave in virtually any market.
THE GOOD NEWS
According to the JLL Research Report – Tech Office Trends, a tech office is 15% cheaper than traditional spaces. Tech companies arrange their office space to maximize every inch and personal workspace has been reduced from what was once an industry standard of 350 square feet per person during the dot-com days to as low as 50 square feet per person today. Plus hard costs and materials are 21% lower in tech fit-out budgets than traditional offices. So while investment in a nicer office, location, and amenities may cost more upfront, what a company will get in return is worth every penny.
HOW DO YOU ATTRACT TECH COMPANIES?
The adage that it’s all about “location, location, location” is still true, but equally important today is “talent, talent, talent.” The trend that is first and foremost in the tech office sector is designed deliberately conceived for employee engagement and happiness.
Tech jobs are among the highest paid, especially for new graduates entering the workforce, but the talent is often difficult to attract and retain. Enticing in-demand talent means a one-size-fits-all office is a thing of the past, and tech companies need to keep employees happy and engaged while promoting flexibility and mobility.
TOUCHSOURCE CAN HELP
A TouchSource digital directory can help keep you and your tech tenants happy by preventing visitor frustrations with tenant listings and locations being easily modified as tenants come and go. Our high-tech electronic directory can also provide directions to their office with building mapping and wayfinding. Plus, a TouchSource interactive touchscreen directory can show-off your office’s local amenities with interactive maps to find restaurants, cafes, gyms, salons and more.
You can keep your tech tenants engaged by using our updating software to add flyers for building events, programs, and recognition on our digital signage solutions.
In addition, our public information kiosks make promoting employee flexibility and mobility a breeze by displaying transit schedules and Uber/Lyft and bikeshare availability for commuters.
GET A COMPETITIVE EDGE
Technology firms need productive workspaces that inspire talented employees to realize their potential. By adding TouchSource technology to your older office building or incorporating it into a new construction, you can create a competitive edge that draws attention from top tech companies and their all-important talent.