Here at CHBO we know that corporate housing is just one small piece of any company relocation or individual relocation. Our primary goal at CHBO is to quickly connect those in need of furnished monthly residential housing with the right property to meet their needs. In addition CHBO is passionate about being a knowledge base for all the ins and outs of property management, corporate housing, business travel, corporate relocation and all of those elements that intersect with corporate housing, so today here are some company relocation tips…
The decision to relocate a business is typically no different than relocating a residence. Relocation is an opportunity to pursue a promising path of further change, growth and success—and for enterprise companies, moving is a chance to take your business to the next level.
A new location may offer enhanced branding opportunities, a pool of more qualified employee candidates, close proximity to valuable customers, a greater space and even an improved quality of life. With thorough research, precise logistic and financial planning, relocation has the potential to completely transform your business.
If you’re ready to move your business, these tips and tools can help make for a smooth transition.
To find the right location, ask yourself, “What is non-negotiable and what can be safely comprised?” “What are my personal needs as an owner?” “Is this area where my target customers are?” Answers to these questions can help lead you to a smart decision. If you’re aiming to influence a new market, you’ll need to collect data that supports your move to a specific community.
- ZoomProspector.com connects businesses to the right communities. This online resource provides access to the latest geographic information system (GIS), demographic, population, income and labor data for a prime site.
- City-Data.com provides detailed data and demographic profiles of cities and neighborhoods to help you determine if an area will meet your business needs.
Other considerations include:
- How to attract the best labor force
- Commuting radius, transportation options and tax rates
- Proximity to customers, distributors, suppliers and competitors
- Services by a real estate agent and lawyer to help with rent and lease negotiations
Effective and Efficient Moving
Before you start to actually move, develop an organized and coordinated plan that includes:
- Documented inventory of everything that needs to be moved, discarded, replaced or upgraded. Your goal during this step is to maximize time and money. These items include your product, furniture, equipment, workstations, etc.
- Timeline of moving schedule and date based off of when you need to be out of your old location and when you can access your new location. Small Business Trends notes that it’s easier for your team to maintain productivity by going through the process gradually step-by-step.
- Professional commercial moving services.
- Transfer of communications, electronic, computer information, company network and security systems.
- Customer notification of your vacancy and new location through email, a website announcement, press releases, social media, updated online listings and invitations to a grand opening.
Hughes Marino, a top tenant representation firm, offers a downloadable business move checklist and coordination tasks. These innovative moving preparation apps can also help mitigate overwhelming challenges for a more efficient corporate move.
Relocation can become chaotic for business, which is why your strongest employees need to be a top priority. If you’re relocating to another state, you may want to offer relocation incentives to keep your most valued employees in support of this transition. These types of benefits can be lump-sum relocation bonuses, cost-of-living adjustments (or higher salaries), temporary housing benefits, spousal employment or childcare assistance.
To keep productivity high and stay connected during this process, you may want to equip your employees with a laptop, tablet or smartphone for working remotely. For example, the iPhone 6 features a fingerprint sensor for mobile security, Wi-Fi calling for touching base from any location and FaceTime to connect with another employee (digitally) face to face. A strong, committed team can not only help relaunch your business immediately in its new location, but can also uphold productive operations throughout the move.
Read more great tips for personal and company relocation on the CHBO Blog.