The year is 2018 and with the 2008 recession now in our rear view mirror organizations are no longer focusing merely on survival but on expansion with the objective of gaining competitive advantages. Re-thinking the global footprint and focusing on site selection is now seen as a strong strategy towards improving a company’s competitive position, however, if not done properly it can cost a company millions and affect their brand. In this paper we outline the specifics needed in order to inform their decision making in addition to the process an organization needs to follow to ensure success.
To determine the true suitability of a location we outline the following:
- The talent criteria to look for in a region(labor availability and quality, workforce costs etc.)
- Country/region opportunity analysis (e.g., skills, regulations, etc.)
- How to efficiently approach a merger with a foreign organization
Lastly we suggest a strategic process that HR leaders can use to assist with the complexity of gathering data and deciding on an appropriate site. Site selection can be an overwhelming and daunting task but with a well developed strategy based on robustv data and deep analyses, it doesn’t have to be.