For both fast-growing small companies and established multi-nationals, cost is no longer king in the search for a new corporate headquarters.
As companies across a wide range of industries face limited talent pools, new priorities are reshaping relocation efforts, focusing far more on people than balance sheets.
“Real estate costs were traditionally a major focus in headquarters decisions, with considerably less concern over how a move would affect talent,” says Scott Homa, Senior Vice President and Director of U.S. Office Research at JLL. “But increasingly, that chicken and egg has been reversed. Workforce has become the most important factor in real estate decisions and employers are evaluating potential headquarters locations in light of their ability to help recruit and retain talent.”