An artist's impression of the Poly Centre building (centre, foreground) in Sydney's CBD, one of the most in-demand locations for workers. Image: Poly
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Anders Furze
Location is playing an increasingly important role in attracting employees and facilitating business innovation, as the NSW state government seeks to drive innovation through the development of hubs across Sydney.
“You’ve got four major hubs in North Sydney, Macquarie Park, Parramatta and the CBD,” says Toni Jacobson, business manager at recruitment agency Randstad Australia. “It’s a changing environment at the moment … I think it’s long overdue.”
Informal and formal hubs bring together not just companies in related fields, but surrounding amenity too, which can be attractive to both employees and corporate clients.
“Larger companies are enticing people with extra add-ons,” Ms Jacobson says. “At Barangaroo, for example, you’ve got your major … banks located in that vicinity. The perception of globalisation … it’s going to entice those types of people.
The Poly Centre will be in a part of the city becoming known as the APDG precinct.
“We’ve got the casino down there, and a big entertainment area for the high-end market.”
In a sign of the growing importance of location in retaining talent, Randstad’s 2018 Employer Brand Research report found that a good location and job security are second only to work-life balance as reasons why Australian employees stay in their jobs. All rank higher than salary and benefits.
Location “does matter” for candidates, says Ms Jacobson. “A lot of people have children, or other motivations, and location does factor into that.”
But she cautions against choosing a prestige address without first considering if it meets business demands.
“You’ve got to find the right location to meet your objectives, it’s not simple.”
The 2017 ‘Imagine Sydney’ report from Deloitte found that the Sydney CBD and Macquarie Park district are the most innovative suburbs in the city, excelling at capturing and creating the most value per employee.
The report cites density, high-growth potential entrepreneurship and collaboration as all helping drive innovation in the CBD.
Artist’s impression of the interior of the Poly Centre.
The report notes that where there is a “greater number of workers in the same area, there is an increased likelihood that they will overlap,” thanks to the informal exchange of information that happens between people and across firms while socialising and working together.
Asset manager Velimir Kanazir works at developer Poly Australia, which is currently building the Poly Centre on George Street in the Sydney CBD. He says the location is important for both attracting and retaining top talent.
“There’s the convenience aspect of it; connectivity and amenity. A good location helps facilitate a good work-life balance, which helps with employee retention as well.”
Multiple modes of transport, as well as surrounding amenities, also play their part in attracting talent.
“If you have good bars or food places in the area, entertainment helps boost morale and keeps employees engaged.”
It can also help with brand perception. A prestigious address “gives an impression to clients and employees that they’re the best in the fields they’re operating in,” Mr Kanazir says.
Australian builder Watpac, also responsible for One Sydney Park and 333 George Street, has started construction on the tower in a part of the CBD being referred to as the APDG precinct – named after Alfred, Pitt, Dalley and George streets.
“When it’s completed, it will be a completely new look for this part of the CBD. There are a number of developments underway in the area.”
Grimshaw architects are responsible for the building’s distinctive design, which Mr Kanazir says will bring something unique to the CBD streetscape.
“We can’t wait for the building to be completed, so everyone can see it.”
This article is brought to you by Poly Centre.
