The great untapped benefit from clustering in new urban hubs exposing talent in creative ecosystems

The allure of burgeoning business hubs is undeniable. These concentrated pockets of innovation and industry throng with potential. But beyond housing successful companies, they hold an immense, and often overlooked, opportunity: cultivating a thriving talent ecosystem within the very communities they inhabit. We miss a chance to tap into a rich vein of potential – a pipeline that empowers both businesses and the locals.

In today's competitive landscape, organisations excel at understanding customer needs. However, a disconnect emerges with local communities. We overlook a brimming pool of talent by failing to invest in their holistic development. Social value works best when it's tailored and unique - not imposed or forced as a generic exercise. It may also look and feel different to what we first imagined.

Supporting talent is a lifelong commitment, not a quick fix. ISG's recent research white paper "Rethinking the skills conundrum" highlighted the importance of aligning aspirations with pathways. It's about dismantling barriers and creating opportunities. It's not about displacement, but about creating a win-win scenario where aspirations are nurtured to unleash creativity alongside opportunity.

The traditional model of attracting talent to a centralised location overlooks a more impactful approach: building talent where it exists. Imagine fostering local talent by understanding community needs and providing spaces for residents to express themselves and pursue their goals.

A community isn't monolithic. Take Kings Cross, for example, a vibrant transport hub and knowledge quarter that attracts students, commuters, and established residents. Each group has distinct needs and aspirations. Cities are alive 24/7, and the challenge is how spaces can transform to serve as places of inspiration for all inhabitants. For example, businesses can bridge the digital divide, a key barrier, by collaborating to provide free Wi-Fi, potentially unearthing hidden talent.

Similarly, the burgeoning population of life science organisations in these hubs also presents a huge opportunity. Inspiration in science shouldn't be confined to museums. Bringing life science initiatives to streets and urban centres can spark young minds to see themselves contributing to the health of communities.

Vision needs a clear path to become reality. People need to see how to take the next step towards their goals through meaningful self-expression and achievement. Large organisations come with significant resources, but the question is where to put them. If partners come together using the lens of appreciative enquiry we can be more radical and impactful and go beyond the obvious - so instead of a tech company providing trainee tech jobs - how about an innovation space which encourages local people to try out their ideas and become entrepreneurs. Community spaces shouldn't just be physical locations; they should be vibrant ecosystems that nurture local talent.

The greatest impact, however, happens beyond company walls. Organisations can extend these efforts into the community creating a ripple effect of positive change. It’s about empowering communities, not changing them. As social value becomes ubiquitous we don't want to become complacent - it's more important now that it's not a box tick exercise but a two-way dialogue that we can measure, evaluate success and change if it's not delivering.

By investing in the community, organisations unlock a wealth of benefits. A nurtured community becomes a breeding ground for diverse talent, offering a wider range of perspectives and experiences. Organisations are seen as responsible actors, committed to the well-being of the community they operate within. A diverse and engaged community fosters a dynamic environment that breeds fresh ideas and solutions.

Shifting our focus from audience understanding to talent cultivation unlocks hidden potential. Organisations that embrace this approach secure future talent while contributing to a more vibrant, inclusive, and prosperous society. They become active participants in the communities they call home.