In our recent Tech Office Trends report, we explored six of the top trends impacting the real estate decisions of tech companies. One of the more notable trends was the thought of cost being irrelevant in terms of office location.
Even though Boston’s tech fit out cost is eight percent over the U.S. average, the market is still ranked number six for greatest absolute gain in tech employees in 2016. Major companies like PTC, LogMeIn, and Autodesk now call Boston home, and other industry heavy hitters are also increasingly migrating into the city’s limits.
What is the reason behind this seeming paradox? Per our report, tech companies are evaluating the human experience more and more when having their real estate discussions. By investing more in the experience offered by not only their workplace but also its supported location, companies feel their employee productivity, innovation, and retention will be significantly improved. Encouraging employee happiness in the form of transformable office plans, fully catered cafes, and “choose-your-own” work space are just some of the ways Boston tech firms are attracting talent.
So although it will cost you more to call Boston home, the talent available coupled with the conveniences offered by a city – public transit, 24-hour dining options, co-living options – make the ROI for tech firms well worth it.
To learn more, download our latest Tech Office Trends report.