Deciding where and when to relocate your business can be a thorny affair. Access to customers and suppliers, as well as personal preferences, can all play a major role. One thing to weigh heavily as well is an area's pool of potential employees. If this is important to you, New York City provides the lowest risk, according to a new study by Aon Hewitt.
The People Risk Index measured risks associated with employee recruitment such as talent development, government regulations and demographics. Of the 131 cities measured, New York came out on top. Other cities in the top five included Toronto, Montreal, Singapore and London.
If your company is planning on moving out of state, these rankings are good things to bear in mind. Being able to recruit reliable employees from a large pool of skilled workers is a powerful tool in ensuring that your company has the ability to grow and move forward.
"With increasing labor costs and continued economic volatility around the world, leaders of global organizations understand that talent management is crucial to the success of their business operations," said Rick Payne, regional Talent and Rewards practice leader for Aon Hewitt in Asia Pacific.
If you do decide to move your company to a city with a low risk for employee recruitment, consider hiring a corporate relocation company to make sure that the finding the right workers is the only thing on your mind.