SPOTLIGHT: Wollongong's Knowledge Services Industry.
Wollongong has recently welcomed some well-known businesses including multi-national IT brand NEC and superannuation giant Mercer to the growing local Knowledge Services sector.
2016 saw NEC Australia open up an office in Wollongong to help service customers from around the country. NEC went through a detailed location selection process, and found Wollongong was able to meet all their needs in terms of cost, proximity to Sydney and the calibre of skills available in the region. ‘We had over 2,000 responses for 100 positions, so we had a really good pool of people to choose from. There was a good balance of senior and junior resources. It was quite easy, it was fantastic’ said Roger Barlow, NSW State Manager for NEC. The $25 million investment at the UOW Innovation Campus already employs 130 staff and has forged strong links with the University of Wollongong IT faculty.
Mercer’s acquisition of local superannuation firm Pillar in 2016 saw the group grow to a massive $200 billion of funds under administration across 2.3 million accounts, with superannuation administration managed from its Wollongong operations. ‘It’s an area we are investing in because we are committed to continuing to deliver excellent service and innovation, at scale, to our clients right across the superannuation service chain. We also want to provide our people with new opportunities and a great place to work’ said Martine Ferland, Mercer’s EuroPac President.
The case for Wollongong as a business location continues to build, with costs in capital city locations rising and businesses increasingly looking at alternatives. A study by Deloittes found that compared to Sydney, Wollongong’s shared services businesses can take advantage of an average 15% lower salary costs, 50% lower rents and a 95% staff retention rate, versus the 75% typically seen in Sydney. Coupled with its proximity to Sydney, modern business infrastructure including early roll-out of NBN and highly skilled workforce, Wollongong’s location provides a compelling case in the shared services sector.
Considering how you can make the most of the Wollongong Advantage? Contact Mark Grimson on (02) 4227 7166.