So, what happens when a direct competitor decides to open up a local office in your backyard? As I see it, a couple of different things can happen:
First, (as human nature would predict - the negative) a mad panic could hit. "Are they going to try and steal our people? Oh, god, this is going to make it even harder to find talent!"
Second, (a rational way to see a silver lining) it brings more talent to the local market - especially if your market has a low cost-of-living and cost-of-doing-business. Because there are more highly visible organizations like yours for people to work for, your market becomes a mecca for the high-level talent.
Thirdly, (the Type A personality in me) it promotes a raising-the-bar effect. Competition creates a need to be better, faster and more nimble - to in essence - beat the competition to the punch. This not only effects hiring and talent but getting and keeping business as well.
So, although, a major competitor moving into your backyard may give immediate cause for panic - it could be the defining moment of your organization.
-Ragan J.
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