Article contributed by Mike Berman, COO, Day & Nite/All Service
Citing demographic shifts at the time, in 1974 General Electric moved its corporate headquarters out of Manhattan for the leafy suburbs of Fairfield, Connecticut. Some 40 years later, with intent “to be at the center of an ecosystem”, mighty GE vacated the suburbs for the Boston seaport area. More than a story of one company’s trek up the Atlantic coast, GE’s journey is an instructional bellwether for this unique moment in hospitality industry time.
At almost the exact midpoint of GE relocating from Manhattan to Boston thru Fairfield, McKinsey & Company’s Steven Hankin coined the phrase War for Talent that soon became a primary business strategy for venerable companies like GE to pure play startups. Among other things, war for talent emphasized characteristics that would make a company an employer of choice, overall environment a considerable driving force. GE and McKinsey have worked closely together for decades, and it is hardly surprising that GE put itself on the frontlines of the war for talent where relocating back to a city was inevitable. Certainly, GE has not been the only company trying to win the war for talent, the explosion of corporate dining and amenities, preference for vibrant cities over suburbs, are perhaps the most notable weapons businesses have used to win the ongoing war for talent. With every state now removing Covid-19 restrictions, that ecosystem propelling GE and many others must come roaring back.
A recently released 17 month 10,000 employee study jointly conducted by University of Chicago and University of Essex researchers found that employees working from home may log more hours but are less productive—by as much as a whopping 20%. As any NY Yankee fan will tell you in this thus far dismal 2021 season, talent without commensurate production redefines frustrating. For businesses the stakes are much higher as the economy will not reach its fullest potential at a time it should come roaring back if talented employees are not at their productive, efficient best. From corporate dining professionals to neighboring restaurants, hotels, bars, venues—indeed the very industry defining that ecosystem, sitting at the heart of war for talent strategies—boldly stepping up with the most creative, compelling reasons for employees getting out of their homes and back to vibrant workplaces is nothing short of an imperative.
The US Chamber of Commerce’s America Works study calls it a national crisis; Manhattan office space vacancies came in at a 30 year high 17.1% last month and is hardly the only suffering city; people must feel that it’s safe to return to mass transit, the workplace and neighboring establishments. Above all else, information is the key—the more hospitality professionals do to reassure the public, the more winnable every company’s war for talent. Restored, preferably surpassed high rates of employee productivity, a function of that necessary more vibrant ecosystem, is the critical ingredient for making it all come together.
Recognizing full recovery—and then some!—depends on hospitality’s leadership, the Day & Nite family of companies has advanced several operational and promotional innovations for these express purposes. The Company’s proprietary high-impact methods for assuring greater indoor environmental quality, food safety and overall workplace protection have been curated to cost effectively deliver war for talent victory and significant, sustainable economic triumph from your most productive workforce.
Overall trends, challenges, opportunities demand innovation. Placing a premium on your most important business objectives, far more consequential than the consistent excellence the Day & Nite family of companies has been known for installing, maintaining and repairing critical HVAC, Refrigeration, Cooking and Plumbing equipment, the driver and measure of (your) success.
To accelerate your leadership for achieving ultimate business success in this unique era email jbf@wearetheone.com
