The firm settled on Nashville because of its relatively high level of education, proximity to universities, professional sports teams, cultural attractions and overall quality of life. It is also, Whelan said, a “long-term labor play.”
"If you look at the salary cost differential between the various markets ... you’ll see the Nashville market is 4 to 6 percent below the national average but the places we have [offices with professional services staff] are 30 percent above the national average"
Translation: Nashville businesses value their professional service employees 6% below the national average compared to other cities that value their professional service employees 30% above the national average. Wages are not just a row in the budget spreadsheet; they are an expression of appreciation (or lack thereof).
UPDATE: Nashville hit list of most stressful cities. No surprise that we are stressful, since the "salary costs", what our companies pay our labor force, is less stressful on the few and more stressful on the many.
This blog has officially jumped the shark.
ReplyDeleteRelocating jobs is good. These are not McJobs (and I know you make that distinction when it suits your purpose).
That some well-payed people did not want to relocate is not an indictment of Nashville; it is a positive for their current communities.
That Nashville costs less to live in than other cities is not an indictment of Nashville - it is a positive.
Brian
Wow. This post demonstrates a severe lack of understanding of economics. I understand you feel it is 'us vs. them', and that's fine. But you really make yourself look silly when you stretch like this.
ReplyDelete