Facebook INC.'s FB -0.28% sprawling field in Menlo Park, Calif., is therefore packed with soft perks that some staff might ne'er need to travel home. Soon, they're going to have that possibility.
The social network aforementioned on it's operating with an area developer to create a $120 million, 394-unit housing community at intervals walking distance of its offices. known as Anton Menlo, the 630,000 square-foot rental property can embody everything from a sports bar to a pooch day care.
Even in geographic region, wherever school corporations vie to lure sought after engineers with extraordinary perks and offices that tally adult playgrounds, Facebook's arrange breaks new ground.
A Facebook voice aforementioned worker retention wasn't a serious consider the important estate push. "We're definitely excited to possess additional housing choices nearer to field, however we tend to believe that individuals work on Facebook as a result of what they are doing is bountied and that they believe our mission," she said.
Some staff had inquired concerning places to measure close to the company field, she said, amid a housing shortage in Menlo Park.
Real estate costs area unit skyrocketing in geographic region, and in urban center, up pure gold within the fourth quarter of 2012 within the Bay space, per DataQuick, MDA.T -0.23% a real-estate knowledge firm.
The development conjures up reminiscences of questionable "company towns" at the flip of the twentieth century, wherever yankee plant staff lived in communities in hand by their leader and were provided housing, health care, enforcement, church and almost about each alternative service necessary.
Spending longer within the clutches of the corporate sphere is not essentially positive. One reason the previous company cities eventually disappeared was that they might be domineering to staff. within the 2013 version, the draw back may be unspoken expectations that staff continuously be operating.
Facebook's plans area unit still a way cry from those shaper and company cities from a century agone. Facebook staff are not expected to figure there for his or her entire lives. and also the new development will solely house a most of concerning 100 percent of its Menlo Park staff.
But the move speaks to however competition is reshaping the role of company culture within the school business.
"Silicon natural depression is in some ways the antithesis of the corporate city," aforementioned Ajay Agrawal, a academic of entrepreneurship at University of provincial capital. In today's school business, Mr. Agrawal says, staff feel less tied to an organization, and additional tied to the geographical location and business. they are additional probably to change corporations and collaborate on concepts with folks outside their own corporation.
One of the downsides of the geographic region model, Mr. Agrawal says, is that if corporations believe their staff can probably leave, they will not invest the maximum amount in their lives or their development.
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