At its core, a company is a group of people. A company has more than just employees, of course. It has assets, offices, a product or service to sell, a brand, a reputation, and much more. But each of these things rely on the single most important part of any company: the people who power it.
Big companies rely on their executives to make key decisions. They rely on their best and brightest to solve problems and create opportunities. And, quite often, this means that top executives need to be on the move, heading to work in offices in cities around the country and beyond.
When CEOs send their best executives out all over the country, they need to recognize that traveling can be tough. Though they’ll be working there for days, weeks, or even months, these executives don’t really live in these distant places. Your company’s traveling executives don’t have homes in Cincinnati or Denver or Austin – and that means that your company had better have a plan to provide corporate housing in Cincinnati or Denver or Austin!
Corporate housing can be rented in the short or long term or purchased outright. Regardless of which path your company chooses, you’ll need to consider the same main factors.
Location, location, location
For executives, corporate housing needs to be a home away from home – and a home near their new office. Proximity is key in corporate housing, because no executive wants to have both a strange apartment and a long commute. You’ll have options when choosing corporate housing, so make sure that you invest in something near the actual office!
You’ll also want to make sure that the location is a nice place to live. Choose a safe and scenic area, and keep an eye out for nearby establishments. Your executive is separated from his or her family and friends, so at least give them something to do nearby. Can the executive walk to decent restaurants? To the bar? To the movie theater? To tourist attractions? Is public transit nearby? Consider all of this before making a decision.
Wall to wall
Of course, you can’t neglect the space itself. Location is important, but don’t sacrifice the living quarters. Executives have high standards, and you’d better believe that the competition is pulling out the stops with their own corporate housing – great talent is always tough to find, so make an investment in holding onto it.
What does a great space mean? It means high ceilings, big windows (with a view, ideally), quality flooring, freshly painted walls, and solid doors. Before you even look at things like artwork, appliances, and furniture, look at the space itself. Is it spacious? Does it feel sturdy? Does it feel new, clean, and well-maintained?
Home, sweet home
The interior of the space matters too, of course. Rented corporate housing will come furnished, so take a look at how the space is filled. If your company is planning to buy and maintain its own permanent corporate apartment, the furniture, appliances, and decorations are your responsibility. Either way, make sure that your executives are greeted by comfortable beds, couches, and chairs. Make sure that the apartment has a dishwasher, a washing machine, a dryer, an oven, and other appliances that executives will need for an extended stay. A home is comfortable and functional. Your corporate housing should be, too.