Will businesses in future be concentrated around hubs – encouraging us to share knowledge, talent and resources? Or will business be able to thrive anywhere in the country and attract the best talent to them regardless of location?
The benefits of business hubs
For companies to grow and develop they need to be supported by quality infrastructure, including transport, telecommunications and technology. Business hubs offer high level services, providing companies with fast internet connectivity and access to teleconferencing facilities.
Hubs also have a lot to offer those that work in them. They provide a ready-made community, with great links to healthcare, transport and social amenities. They also help to bring together like-minded members of an industry – for example Silicon Valley for technology, or the City of London for finance – creating a focused point for industry innovation, best practice, and competition, thus helping workers to develop their skills.
In the search to find the best talent, companies need to consider the full package they offer potential employees. For many workers hubs seem a safer option when they consider their long-term options, as they can potentially offer a higher quality of lifestyle through, for example, on-site gyms or restaurants.
The impact on the search for talent
So do hubs help in the search for the best talent and skills? Certainly hubs are likely to act as magnets for graduates and talent, providing the companies located in them the opportunity to pick and choose from both new and experienced candidates. Hubs often spare companies from having to offer pricey relocation or expat packages, as workers are likely to move to hubs independently in order to increase their chances of finding work.
That’s not to say close proximity to talents pools is always essential to get the best candidates. There is a wide global talent pool businesses can turn to if they feel deprived of local talent as well as collaborations with companies based in other countries to share skills.
For those not in a hub
So for those not based in a hub, or unable to afford the usually higher price of real-estate associated with them, what can be done to find and attract the best talent?
Although there are many benefits that hubs can offer companies, it is of course possible to thrive anywhere in the country provided you can find the quality workers to support your growth.