In 2018, McDonald's relocated its headquarters from suburban Oak Brook to downtown Chicago, Illinois. The burger makers have followed other corporations like Motorola and Kraft Heinz into the city in order to attract younger talent. What made them and so many others make this decision, and what are they doing to handle the move, manage employee retainment, and increase satisfaction in the city?
Would you like to spend 19 days a year in a car stuck in traffic? It sounds like a post-apocalyptic nightmare, but it's actually the average amount of time Americans waste taking solo car commutes every year.
Transportation has been in the spotlight for being one of the main contributors to global pollution. Cars, specifically single-occupancy vehicle cars, have been the poster child for increased carbon emissions, and it's true — not driving a personal vehicle is the biggest change an individual can make to have an impact. But the solution can't be centered around individuals. Major corporations are responsible for more pollution, particularly in relation to air travel, than any single person could be.
The cost of replacing an employee is higher than ever — up to 33% of a person's salary! At the same time, 1 in 4 people have left a job because of the terrible commute. Because of these trends, companies are trying to make the commute more flexible to attract higher talent. College graduates and young professionals are taking advantage of this when it comes to where they live, with the ability to find a place farther from the office and seek out alternatives to a traditional commute.
Across the US major cities, even retail paradises like New York, have been putting up more and more "Retail Space for Lease" signs than ever before. There may be an answer for this issue that can also double as a solution for the urban housing crisis.
Queens became a real estate paradise overnight when Amazon announced that half of their new headquarters would be located in Long Island City. But, in a shocking turn of events and much to St. Valentine's dismay, the major corporation decided to pull out of their cozy new digs leaving hundreds of New Yorkers celebrating.
Your building doesn't have to be constructed in the past five years to be modern and engaging with residents and perspective residents. Modern spaces at your property will help you stay competitive in a changing landscape.