Changing Narratives of The Location
As part of this exercise, you may develop a simple construct around your existing locations. Many of the enterprise locations evolve over a period, and narratives of how companies use that location is no longer consistent with market trends. Like this, your location could be changing or could have changed. Studying this aspect is very crucial.
With Industry 4.0 making digitization more accessible to the business world by bringing it our doorsteps, the stage was being set for major offshoring practices. Leveraging the skill sets of indigenous talents and gaining the advantages of operating from a micro hub with equal or improved effectiveness and productivity had begun to attract the attention of global corporations towards smaller cities on the map.
The startling blow of the pandemic, COVID-19, and the inevitable remote working operations it has imposed on the professional world has further pushed these organizations to make these offshoring choices much sooner than anticipated. The changing nature of the talent pool and its characteristics of business locations in the past to become more inclusive and transformative of newer job categories and specialized talents had added to the impetus for this transformation.
A closer look into the longitudinal journey of the top few micro hubs of the past and its renewed characteristics in the current day substantiates the ability of these hubs to support and sustain the novel initiatives. A few such instances are of:
- Dallas, primarily known as IT hub now houses talents skilled in Digital Marketing, Software Product Development, F&A, and other Corporate Functions
- Ann Arbor, previously known for its technical support centre until a few years ago now is the hub of the Cybersecurity talent pool
- Boise-Idaho is now reasonable Software R&D hub
- Provo-Utah, which as a primarily a data entry hub now houses software talents
Similarly, many other major locations are transforming their location characteristics to reshape the business map. Europe’s tinier, yet resourceful cities like Edinburgh, Moscow, Krakow, Lisbon, and Vilnius are lining up behind the most popular ones such as San Francisco, Provo and DFW to expand their business housing capabilities and attract global organisations.
It is crucial for organizations who aspire to make a mark in the global market to track and be aware of such changes in their business locations’ narratives. They need to further align their operations accordingly by focusing on the indigenous talent pool. Draup’s Talent Intelligence Platform helps these organizations to efficiently track the predominant business operations of multiple locations across the globe on a near real-time basis. It also enables them to extract the data on talent characteristics at a given location and adapt themselves to the changing times.