Refresh or Rethink?
GE originally approached Advance Strategy to refresh the interiors of their suburban Meadowvale campus to increase appeal to millennial talent.
Our early research indicated that aging décor wasn’t as detrimental to GE’s goals as the suburban location of their offices—the people they were eager to hire just didn’t want to live or work that far from central Toronto.
Rather than a beautiful design that wouldn’t solve the problem, we advised GE that they would be better served by rethinking their real estate strategy to support their long-term business goals.
Validated by careful qualitative and quantitative analyses, we identified a number of options, from refresh to complete relocation. We then built a comprehensive scorecard to score the risks and benefits inherent in each.
GE chose a hybrid solution in which they sold their legacy campus, retained a newer, smaller suburban location for their long-term talent who live close by, and opened a satellite office closer to downtown Toronto to attract the next generation of talent.