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LABOR TRENDS OVERVIEW
OCTOBER 27, 2016
Rob Marsh, Executive Vice PresidentCBRE Labor Analytics
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CBRE LOCATION INCENTIVES 2
THE CHANGING LANDSCAPE WAR FOR TALENT
SOLVING FOR THE INTERSECTION LABOR & LOCATION
BUSINESS DEMAND FOR TECHHOW DOES MIAMI STACK UP
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THE CHANGING LANDSCAPE WAR FOR TALENT
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Professional Services
Research & Development
Information Technology
Finance & Accounting
Back-Office Processing
Call Center
LAB
OR
VA
LUE
CH
AIN
STRATEGICMARKETS
TIER 2/3 MKTS
WORKPLACE
OFFSHORE/OUTSOURCE
NEAR SHORE
1990’s TODAY
EVOLUTION OF CORPORATE LOCATION STRATEGY
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BUSINESS WANTS TO FIND OPPORTUNITIES AT THE INTERSECTION OF HUMAN CAPITAL & REAL ESTATE.
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OCCUPIERS ARE MAKING PEOPLE-CENTRIC DECISIONS WHEN SELECTING MARKETS
50%TALENT
AVAILABILITY
40%ACCESS TO NEW
MARKETS AND CUSTOMERS
36%QUALITY OF LOCATION INFRASTRUCTURE AND
AMENITIES
31%REAL ESTATE
COSTS
57%S E E E M P L O Y E E A T T R A C T I O N
A N D R E T E N T I O N D R I V I N G W O R K P L A C E S T R A T E G Y
50%E X E C U T I V E S C H O O S E
M A R K E T S B A S E D O N T A L E N T R E Q U I R E M E N T S
44%S E E S K I L L E D L A B O R
S H O R T A G E S A S A P R I M A R Y C H A L L E N G E F A C I N G T H E I R
O R G A N I Z A T I O N
TALENT DETERMINES THE MARKET COST PINPOINTS THE LOCATION
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SKILL SET
Education levelsRecruit & Retain
OP
ER
ATIO
N
SIZ
E
EX
PE
RIE
NC
ELicensing
Cost of living
INC
EN
TIV
ES
Market SizeRegion Preference
STA
TES
Tim
e zo
nes
Wage rates
Saturation levels
CompetitionFuture Risk
Indu
stry
Clu
ster
s CRITICALFACTORSSTARTING WAGE
SCA
LAB
ILIT
Y
WO
RK
ETH
ICP
arki
ng R
atio
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SEATTLE
BAY AREA
LOS ANGELES
CHICAGO
DALLAS
HOUSTON
BOSTON
NEW YORKPHILADELPHIA
WASHINGTON DC
ESTABLISHED
URBAN B-LIST
PHOENIX
SALT LAKE CITYDENVER
SAN ANTONIOAUSTIN
NASHVILLE
ATLANTACHARLOTTE
RALEIGH
ORLANDOTAMPA
NEXT PHASE
PORTLAND
BOISEBOZEMAN
PROVOLAS VEGAS
ALBUQUERQUE
OMAHADES MOINES
OKLAHOMA CITY
KANSAS CITY
NEW ORLEANSTALLAHASSEE
HUNTSVILLE
ASHVILLE
ROCHESTER
COLUMBUS
DETROITPITTSBURGH
MIAMI
WHERE ARE THE CENTERS OF LABOR?
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SOLVING FOR THE INTERSECTIONOF LABOR & LOCATION
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PAYROLL
$1.00 / HR $16.64 / SF
TAP INTO
SPECIALIZEDSKILLS
REDUCEOPERATING
COSTS
72%
15%
8% 5%
REALESTATE
TELECOMTAXES
WHY LEAD WITH LABOR?
ACHIEVE
“EMPLOYER OF CHOICE”
STATUS
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NEWLOCATIONS
EXISTINGLOCATIONS
PORTFOLIOSTRATEGY
WHERE CAN I CREATE A NEW HUB?
IF I STARTED WITH A BLANK PAGE, WHERE SHOULD I BE?
HOW LARGE CAN I GROW?
HOW DO I POSITION MYSELF AS A PREFERRED EMPLOYER?
WHERE IS THE UNDERLYING TALENT IN THE WORKFORCE?
WHO AND WHERE IS MY COMPETITION?
HOW DO THESE NEWLY ACQUIRED SITES FIT INTO MY PORTFOLIO?
HOW CAN I DEVELOP A STRATEGIC ROADMAP FOR MY EXISTING LOCATIONS OR FUTURE DECISIONS?
SIMPLE CONCEPT: COMPLEX SOLUTION PATH…
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• WORKFORCE IS TIGHTENING• SPECIALIZED TALENT IS IN HIGH DEMAND• WAGES & COMPETITION ARE INCREASING
WHAT DOESTHIS MEANFOR YOU?
START BY LOOKING AT THE TRENDS
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REMEMBER IT’S NOT JUST ABOUT WAGE…
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BUSINESS DEMAND FOR TECHHOW DOES MIAMI STACK UP
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PREPARED FOR CLIENT© 2016 CBRE | CONFIDENTIAL & PROPRIETARY 16
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PREPARED FOR CLIENT© 2016 CBRE | CONFIDENTIAL & PROPRIETARY 17
REPRESENTATIVE JOB ANNOUNCEMENTSMIAMI ACTIVITY
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PREPARED FOR CLIENT© 2016 CBRE | CONFIDENTIAL & PROPRIETARY 18
0
50,000
100,000
150,000
200,000
250,000
300,000
LOCATION ANALYSISTOTAL TECHNOLOGY EMPLOYMENT
Unusual SuspectsStrong Growth MarketsEstablished Hubs
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PREPARED FOR CLIENT© 2016 CBRE | CONFIDENTIAL & PROPRIETARY 19
2.1%
18.6%
-11.3%
5.7%
19.1%
10.0%
14.0%
-11.0%
21.2%
-7.3%-4.5%
0.8%
27.0%
19.3%
11.5%
18.5%
24.2%
19.8%
11.4%
LOCATION ANALYSISTECH DENSITY – 5 YEAR CHANGE (2011 – 2015)
Unusual SuspectsStrong Growth MarketsEstablished Hubs
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PREPARED FOR CLIENT© 2016 CBRE | CONFIDENTIAL & PROPRIETARY 20
0%
2%
4%
6%
8%
10%
12%
14%
LOCATION ANALYSISTECH DENSITY (% Of labor force employed in tech jobs)
Unusual SuspectsStrong Growth MarketsExisting Client Hubs
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PREPARED FOR CLIENT© 2016 CBRE | CONFIDENTIAL & PROPRIETARY 21
$60,000$65,000$70,000$75,000$80,000$85,000$90,000$95,000
$100,000$105,000$110,000
LOCATION ANALYSISMEDIAN SALARY FOR TECHNOLOGY PROFESSIONALS
Unusual SuspectsStrong Growth MarketsEstablished Hubs
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2.5%
-2.6%
0.6%
-1.2%
-3.9%
6.1%
-5.4%
-3.7%-0.7%
5.5%
-2.6%
5.3%
-4.3%
4.1%
-5.3%
5.7%
-4.0%
6.6%
2.2%
LOCATION ANALYSIS% EARLY CAREER – 5 YEAR CHANGE (2011 – 2015)
Unusual SuspectsStrong Growth MarketsEstablished Hubs
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THANK YOU