business product manager talent analysis - …...see slide 3,6,7 and 12 for detailed job...

1

Business Product Manager Talent Analysis

JUNE 2019

22

Assumptions & Methodology

Please see the details below for assumptions and specifications for filtration criteria across various components :

• Roles & Skills Filtration: Walmart asked to analyze business product manager role across United States. We have categorized this job role into 3 buckets (some buckets consists of multiple industry bands) for the purpose of this analysis. See slide 3,6,7 and 12 for detailed job descriptions, related job titles in peer companies and

filtration criteria (skills and industry filters).

• Location analyzed: We have analyzed top 10 locations with highest business product manager talent i.e. San Francisco Bay Area, New York Metropolitan Area, Greater Chicago Area, Los Angles Metropolitan Area, Dallas-Fort Worth Metroplex, Greater Seattle Area, Greater Boston Area, Washington DC – Baltimore Area, Atlanta Metropolitan Area and Greater Houston. We have considered the MSA area for identifying talent numbers.

• Employed Talent Analysis: We have categorized the available talent globally and US specific. We have done location wise deep dive, mentioning the top employers for Bucket 2 – Adjacent talent (Contains talent from companies apart from Retail) and Bucket 3 – Directly relevant talent (Contains talent from Retail companies)

• Fresh Talent Supply Analysis: Universities offering courses relevant to product management, project management and courses related to digital skills in product management such as agile, scrum and design thinking.

• Talent Availability vs Cost Analysis: We have analysed top 20 US locations which have the highest BPM talent, with respect to the median salary of the talent. The salary has been taken for the talent whose work experience is less than 7 years. We have factored in other parameters such as Cost of Living and Average Commute time.

• Digital Transformation Maturity: We have analyzed the retail value chain and highlighted digital maturity across the value chain. Business Product Managers are present in the Planning and Merchandising segment. We have identified product manager roles which have seen digital transformation.

• Talent Cost Analysis : We have used DRAUP platform, as well as portals such as Glassdoor, Pascale, LinkedIn , Indeed and more to analyze talent cost. Median cost for each job category is calculated and average median cost for respective Job families is included.

Source : DRAUP

33

190,400 • Talent profiles which are non technical product managers ( don’t have a software

background )

• Excludes service providers

• Excludes service providers

• Industry wise filter – Excluded technical IT & Services, Enterprise Software,

Internet companies such as Microsoft, Google, Oracle, IBM etc

• Apart from Retail, includes industries such as BFSI, Consumer Goods, Travel

& Hospitality etc

Step-2: Location and Industry Filter

Harvesting Funnel Steps InvolvedStep No.

Methodology: Harvesting Relevant Talent Profiles

~53,000

Source : DRAUP’s proprietary methodology

Step-3: Product and digital

skill Filter

Filter

Manual QC to test

exhaustiveness of

title library

Component2 : For each of the shortlisted locations, analysis is comprised of the following major components:

Location Analysis Parameters

10 shortlisted locations were analyzed

Location Attributes

Demographics , Quality of

Life , Corporate Presence

Business Cost , Commercial Real

Estate CostTalent Availability, Median cost of talent, Top

employers ( Direct & Adjacent ), University talent

Talent Analysis

(Global BPM Talent)

US - BPM Talent)

Step-1: Role and non

technical PM Skill Filter

Broad Talent

Adjacent Talent

Directly

relevant Talent

• Includes companies which have built vendor/merchants/seller/B2B client

management products

• Includes digital skills such as design thinking, scrum, agile etc

~18,000US - BPM Talent)

• They have worked with vendor management products

• Includes Retail company profiles who have worked in retail product segments such

as category management, merchandising etc

Business Considerations

~8,200

44

Executive Summary

The study encompasses Business Product Manager (BPM) talent-pool across United States.• Globally, we have ~190, 400 BPM talent. 7 MSAs were identified as matured talent hotspots i.e. San Francisco, New York, Columbia, Sao Paulo, London, Paris and Bengaluru.• In United States, Total employed Talent Pool Size :

o BPM Talent: ~53,000o Adjacent BPM Talent: ~18,000o Directly Relevant Talent : ~8,200(We have defined the talent brackets in Slide 3. For more detailed understanding, please refer to Slide 12)

• US, Key BPM Talent Locations : Greater New York Area, Greater Los Angeles Area, San Francisco Bay Area, Greater Chicago Area and Greater Boston Area are the top locations with highest adjacent BPM talent. Dallas Fort Worth and Washington DC Metropolitan Area are emerging locations for BPM talent

• Key Employer analysis : • Broad Talent : Uber, Intuit, PayPal and Lyft are the top Software/Internet companies with scaled BPM talent. Liberty Mutual Insurance, Allstate, Bank of America and Wells

Fargo are the key employers having major BPM talent in BFSI Industry. The Walt Disney and Netflix are the top Media and Entertainment companies with high BPM talent.• Adjacent Talent : DHL, Scoular and McLane are top Logistics and Supply Chain companies with major BPM talent. • Directly Relevant Talent : Macy’s, The Home Depot, Target, Kroger and Costco Wholesale are few relevant retail players leading the industry in BPM talent.

• Fresh Talent Supply Analysis: New York University, Stevens Institute of Technology in Greater New York Area and Mount Saint Mary's University, Ashford University in Greater Los Angeles Area are few top universities with relevant BPM graduates in the top two locations.

• Talent Cost Analysis: Median cost has been analysed for BPM role for 20 US locations. Average Median Cost is calculated by taking the weighted average of median cost across all 3 buckets. Average Median Cost of BPM talent is ~80,235 USD and average years of experience ranges from 4 -7 years. Out of the 20 locations, Miami, Portland, Philadelphia are the locations with Low average median cost i.e $ 55,200, $ 60,100 and $ 60,600 respectively, due to presence of low cost of living and presence of lesser companies with these BPM roles. New York and Washington DC are the high cost location where the median salary is $ 115,000 and $ 110,000 respectively.

• BPM Job Progression : More than 20% of Account Managers and Product Leads progress to business product manager roles in Retail and Consumer Software/Internet companies. ~30% Business Analyst convert to BPM in their later career.

Source : DRAUP

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Business Product Manager : Description and skills extracted from sample profiles

Job Cluster Description

Business Product

Manager (BPM)

• Drive product vision and strategy

• Provide constant feedback to team and help the team follow

the vision

• Build close relationships with key stakeholders

• Define user adoption of product

• Ensure customer-driven design considering user pain points

and usability test results, while using market & industry

knowledge to deliver a well-positioned product

• Exercise strong decision making mandate from executive

group to own the product end-to-end

• Collaborate with product marketing to drive product adoption

and end user engagement

• Approve each product feature and provide valuable feedback

for the team

Customer Obsessed: constantly

optimize product and services

according to customer needs

Industry knowledge: To predict future

trends

Business acumen

Analytical skills: analyze data

quantitatively, use customer research,

data and metrics to back up

assumptions and identify opportunities

Computer Skills: Excel and PowerPoint

skills, familiarity with databases and

SQL, Software skills preferred

(software life cycle/ product

management tools)

Skills Other Attributes

Analytical: ability to draw

quantitative insights and make

decisions

Good Communication Skills

Stakeholder Management

Passionate about Customer

Experience

Leadership Skills: To be able to

lead a team effectively towards

its vision and goal

Business Product Managers (Based on type of workload)

CUSTOMER CENTRIC

Business Product Managers always put the customer first and constantly innovate according to customer needs. They’re

constantly seeking feedback for their products to constantly improve. Business Product

Managers have a lot of empathy and work taking a people-first approach.

ANALYTICAL

The analytical nature of business product managers leads them to make data-

driven decisions to help achieve team end goals. They use data to analyze

trends and strategize towards achieving team goals.

COMMUNICATORBusiness Product Managers are great

communicators and good at managing multiple stakeholders. They need to

collaborate across different teams, with customers and vendors on a day-to-day

basis making their relationship management skills superior.

DESIGN THINKING

Business Product Managers are natural design thinkers. They understand, explore,

ideate and materialize.

Note: The above analysis is based on the DRAUP’s proprietary database and primary interviews of key stakeholders5

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Business Product Manager Job roles: Core workloads and skills for Business Product Managers remain the same across Retail, Computer Software/Internet and BFSI industries

Industry Sample Roles Skills Sample Workloads

Retail

Computer

Software/

Internet

BFSI

• Product Manager

• Business Product Manager

• Merchandising Manager

• Product Merchandising

Manager

• Digital Merchandiser/

Merchant/ Merchandising

manager

• Product Manager

• Product innovation manager

• Product manager- Data and

Analytics

• Product Technology

Management

• Principal Product Manager

• Strengthen, ideate and implement merchandising strategies

• Read and react to in season analytics and identify

opportunities to adapt current business and inform future

assortments, merchandising strategies and strategic

initiatives

• Responsible for facilitating strategy from concept to

consumer

• Constantly improve products based on customer feedback

• In partnership with design, identify growth opportunities and

maximize returns

Advanced excel skills, PowerPoint skills,

strong analytical skills, product sensibility,

business acumen, business and product,

good communication skills, stakeholder

management, customer focused, root

cause analysis, goal oriented,

organizational skills, trend analysis and

industry awareness

• Responsible for leading the planning, development,

implementation and measurement of product offerings that

support an exceptional experience for customers

• Define, lead, and execute holistic strategy to work towards

strategic business goals, collaborating as needed across

regions, product areas, and functions.

• Engage closely with Engineering teams to determine the

best technical implementation methods as well as a

reasonable execution schedule.

Project Management, Analytics, Product

Management, Supply demand planning,

UI/UX, Understanding of software/ web

technologies, strong decision making and

leadership skills, Relevant technical skills,

exceptional problem solving skills, customer

focused

• Provide business, product and design leadership for select

digital products and experiences, with a focus on customer

identity, access and entitlements management

• Document existing customer experience journey maps

(CXJM) and create target-state journey maps

• Provide strategic direction and oversight for user-centered

designs (aka user experience research, user experience

design, human-centered design, and more)

Strong knowledge of technical product

management or user experience research

and design (aka UX R&D, human centered

research and design, user centered design),

strong technical and business acumen,

customer focused, analytical skills, project

management

• Product Manager

• Digital Product Manager

• Commercial Digital Product

Manager

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Business Product Manager role analysis in Peer Companies : Products, workloads and sample roles


Company Workloads Sample Roles

Nordstrom

• Manage and develop a high performing digital merchandising team • Partner with a diverse group of stakeholders including the internal merchandising group teams to strategize and

work towards multichannel profitability • Maintain expertise of the e-commerce landscape and online competitors, identifying category trends and online

growth opportunities • Drive root cause analysis

• Digital Merchandising Director

• Manager, Merchandising Finance

• Analyst, Nordstrom Merchandising Group

• Product Manager, Merchandising

Amazon• Use marketplace trends and industry knowledge to predict future trends and map out strategies accordingly• Help execute, and deliver on detailed range plans, timelines and communicate to team leadership on status, risks,

and process changes

• Product Merchandising Manager

• Vendor Manager

• Program Manager

Target

• Responsible for defining the vision and roadmap for the services, data pipelines, and APIs our products are built on

• Ensure roadmap aligns to business objectives• leverage • Leverage knowledge of product, as well as customer feedback and other relevant data points to assess value,

develop use cases, and prioritize the direction and desired outcomes for product

• Product Owner

• Product Analyst

Lowe’s Company

• Prioritize, plan and manage product features through the product development process in support of the overall product domain strategy

• Use data and analytics to analyze business and prioritize product backlog appropriately• Uses analytics to monitor product KPIs and ensure success metrics are being met, identifies opportunities for

testing and product enhancements based on results

• Product Manager

• Merchandising specialist


• Merchandising Director

Hermes

• Manage the overall business of assigned categories by partnering with retail planner, boutique Directors and Paris • Execute seasonal strategies for category that meet or exceed the financial goals• Review and react to weekly business trends based on sales and feedback from each market• Provide quantitative (data) and qualitative (trend) research to determine seasonal assortments and promotional

strategies


• Product Data Manager

Macy’s• Responsible for driving merchandising excellence and growth for new projects• Develop and execute a strategic vision, with a progressive, customer centric-approach that delivers sales and

profit objectives

• Director, Integrated Merchandising

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Digital Transformation Maturity of Business Product Manager:

SUPPLY CHAIN AND LOGISTICS

PLANNING MERCHANDISINGONLINE/ OFFLINE

STORE OPERATIONSMARKETING

CUSTOMER EXPERIENCE

Inventory management Real estate planningAssortment and category

managementPOS Location analytics

Loyalty and rewards management

Last mile logistics Space planning Markdown and discount management

Fraud detection

Sentiment analyticsCustomer feedback

managementTransportation management

Merchandise financial planning Product recommendation

engine

In-store inventory tracking

Personalized targeting Visual search engines

Supplier management Pricing and promotion optimization

Planogramming

Loss prevention

Customer behavior analytics

In-store navigation

Warehouse management Sales planning &

forecastingCampaign management In-store marketing

Customer relationship management

Store automation

Shipment tracking Clustering and profiling

Workforce optimization & management

1 2 3 4 5 6

Robotic Store AssistantBeacon Based Store Optimization

Dynamic PricingDigital StorytellingWarehouse DronesNeuro-based

Recommendations

Digitally-enabled Sales StaffSeamless Checkouts

AI Based Merchandising

Autonomous Delivery Vans

VR-based Shopping Aids

In-store Location-based TargetingRobotic Shelf

Management

Picker Route Optimization

DIG

ITA

L U

SE-C

ASE

S

Chatbots

High Maturity Medium Maturity Low Maturity

Category Manager Digital Product Manager

Manager- Planning & Forecasting

Merchandising Manager

Merchandise PlannerDigital Merchandising

Director

Business Product Managers are primarily present here

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Job Transformation of a Business Product Manager: User experience , Agile Scrum, ML has transformed Business Product Manager’s skills, role & workloads

BS ComputerEast China University of Science and Technology

Sammamish, Washington

Digital Product Manager, Kroger

Business Analyst

• Core team member of Digital eCommerce Agile Scrum team Responsible for the support and quality of three eCommerce websites

Nicholas SetserDigital Product Manager, KrogerTotal Years of Experience: 15+ YearsExperience in Current Role: 1+ Years

• Working as a liaison among business units, technology and support teams• Eliciting, analyzing and documenting requirements, process improvement

and documentation and driving and managing client requests

Digital Product Manager, PNC

Product Development Manager Consumer Deposits

• Making PNC's digital account opening experience best in class through innovation, user research, UX enhancements, and digital first decision management.

• Develop new on boarding experiences around customers needs and dreams leveraging tablet technology combined with the human in branch experience

Chris LovettDigital Product Manager/Team Lead, PNCTotal Years of Experience: 19+ YearsExperience in Current Role: 1+ Year

MBA International BusinessPoint Park University

Greater Pittsburgh Area

Note: The above analysis is based on the DRAUP’s proprietary database and primary interviews of key stakeholders

BS ComputerEast China University of Science and Technology

Sammamish, Washington

AVP - Sr. Product Manager - Business Banking, U.S Bank

Buyer Merchant

• Overseeing the digital experience for the Business Banking Division• Improve the customer experience via utilization of data, analytics and

benchmarking, resulting in improvement in key customer KPIs.

Peter FitzkeAVP - Sr. Product Manager - Business Banking, U.S BankTotal Years of Experience: 16+ YearsExperience in Current Role: 2 Years

• Manage the merchandising portfolio for assortment selection, financial performance, vendor management and holistic category management

Sr. Manager (Product Management), Amazon

• Lead process improvement and business intelligence for the US Hardlines retail business• Manage the data infrastructure for the business, includes data-as-a-service for multiple

teams, and machine learning models to improve our business decisions and results

• Led the vendor management/buying team responsible for vendor negotiations, customer/site experience, and long-term growth strategy.

Skyler RamirezSr. Manager, Hardlines ACES (Product Management) & BI, AmazonTotal Years of Experience: 14+ YearsExperience in Current Role: 4+ Year

MBA, University of California, Los Angeles -The Anderson School of Management

Greater Seattle Area

Bachelor of Business Education, University of Minnesota-

Greater Minneapolis-St. Paul Area

Sr. Manager, Vendor Management

BS Information Technology

University of Cincinnati

Cincinnati, Ohio Area

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Business Product Manager Job Progression: Talent gap created by digitalization is filled by Business Product Manager talent reskilling

Job Progression

PREVIOUS ROLES

PRODUCT LEAD

ACCOUNT

MANAGER

CONSULTANT

PRODUCT SETUP

MANAGER

BUSINESS

ANALYST

Required Skills and Certifications

Overlapping Skills

Existing skills that can be leveraged as an employee progresses towards a

tech adjacent role

Certifications Required

Professional certifications are a vital part of reskilling initiatives undertaken

by organizations to shift talent laterally and fill skill gaps

PROGRESIVE ROLES

IT talent are moving into tech adjacent roles by either gaining certifications,

upskilling or learning new tools

Required Skills

These are the core skills that an individual needs to learn to ensure that he can transfer successfully to

the new job role

SQL, Agile & Waterfall

Methodologies, SEO

Negotiation, Excel, Data

Analysis

Data Analytics, VBA, SQL

Visio, SDLC, Excel

Scrum, SAP, Six Sigma

Machine Learning, Data

Science, AI

ML, AI, Agile

Methodologies, Scrum

Certified Scrum Product Owner

Executive Product

Management Program

Certificate

User Interface Design,

Artificial Intelligence

Business Administration and

Management

Master of Business

Administration (Project

Management approach)

Certified Scrum Master

BUSINESS

PRODUCT

MANAGER Web Analytics, SEO,

Business Modelling, Trend

Analysis


Cross Functional Team

Management , Design

Thinking, Product Road Map

Conversion Rate

30%

25%

20%

10%

10%

Others 5%Others includes Merchandising Manager, Category Manager, Business Intelligence Product Manager,

Portfolio Product Manager etc.

11

New York

Colombia

Sao Paulo

LondonParis

Bengaluru ChennaiHyderabadMumbai

Delhi Shanghai

ChileArgentina

Peru

Beijing

Tokyo

Chengdu

Singapore

Taipei

Moscow

Stockholm

HamburgBerlin

AmsterdamCologne

Frankfurt

Stuttgart

Munich

MadridBarcelona

Tunisia

Egypt

Nigeria

Johannesburg

VancouverSeattle

Portland

San FranciscoSalt Lake

Phoenix

Denver

Minneapolis

DallasAustin

Houston

TampaMiami

Orlando

Chicago

Atlanta

Montreal

ColumbusToronto

Raleigh

PhiladelphiaBaltimore

Sydney

Hong Kong

GLOBAL BPM TALENT: ~ 190,400

A total of 60+ talent hotspots were analyzed

Hotspots with

talent > 5,000

7 MSAs were identified as matured talent hotspots

Hotspots with

talent between

2,000- 5,000

27 MSAs were identified as emerging talent hotspots

Hotspots with

talent < 2,000

26 MSAs were identified as talent hotspots with less than 2,000 talent

Business Product Manager talent hotspots (60+ Global MSAs have been analyzed)

Note : DRAUP’s Talent Simulation Module. DRAUP’s proprietary talent module was used to analyse jobs by locations and skill type

Boston

Global Hotspots with Business Product Manager Talent : San Francisco, Bengaluru, New York, Colombia, Sao Paulo, London and Paris are the top locations with majority of BPM talent

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United States - Business Product Manager Talent Buckets :

Source: Draup G500 skills mapping modeler – 2017, 2018Draup Proprietary Database

~8,200 ~8,200

~9,800

US – Talent supply

~8,200

~35,000

~9,800 Adjacent Talent

Directly Relevant

Talent

This is the product manager talent which is relevant for Walmart. It has

similar core skills i.e. non technical product managers and workload

involving product management of internal products. The industries are

different i.e. BFSI, Software/Internet, Media and Entertainment

Broad Talent

This is the product manager talent belongs to similar industries similar of

adjacent to Walmart. It has similar core skills i.e. non technical product

managers, workload involving product management of internal products,

vendor management. They have digital skills such as design thinking,

scrum, agile etc. They belong to adjacent industries i.e. Logistics &

Supply Chain, Consumer Goods, Ecommerce etc

This is the product manager talent belongs to Retail industry. It has similar

core skills i.e. non technical product managers, workload involving

product management of internal products, vendor management. They

have digital skills such as design thinking, scrum, agile etc. They work

with merchants/sellers/vendors. Category Managers, Merchandising

manager etc are included in this talent.

~8,200 ~18,000 ~53,000TOTAL TALENT(in each bracket)

Core Skills: Product Management of internal products, vendor management, Digital Skills : Design Thinking, Scrum, AgileDomain: Industry use case

13

Business Product Manager Roles across relevant industries:

RETAIL

PRODUCT MANAGER

MERCHANDISING MANAGER

PRODUCT MERCHANDISING

MANAGER

DIGITAL MERCHANDISER

CATEGORY MANAGER

COMPUTER SOFTWARE / INTERNET*

DRIVER ONBOARDING PRODUCT MANAGER

LOGISTICS & SUPPLY CHAIN

PRODUCT LINE MANAGER

MEDIA & ENTERTAINMENT

PRODUCT INNOVATION MANAGER

TargetAmazon

e-BayNordstrom

Bed Bath & BeyondMacy’s

UberLyft

PayPalIntuit

WePay

LOGISTICS PRODUCT MANAGER

CATEGORY MANAGER

SUPPLY CHAIN INTELLIGENCE PRODUCT

MANAGER

SOURCING PRODUCT MANAGER

WayfairLogistech SolutionsDHL Supply Chain

FedEx Capstone Logistics

Penske LogisticsTNT Logistics

FLEET OPERATIONS PROGRAM MANAGER

VENDOR ENGAGEMENT PLATFORM MANAGER

PARTNER ENGAGEMENT MANAGER

NetflixHotstar

Amazon PrimeSpotify

ADVERTIZER SOLUTIONS PROGRAM MANAGER

PARTNER PLATFORM MANAGER

DIGITAL PRODUCT MANAGER

Note: *We have included primarily product companies

BFSI

DIGITAL PRODUCT MANAGER

DIGITAL SERVICES PRODUCT MANAGER

BUSINESS UNIT PRODUCT MANAGER

PRODUCT ENABLEMENT MANAGER

COMMERCIAL DIGITAL PRODUCT MANAGER

Capital OneAmerican Express

Fidelity InvestmentsWells FargoJP Morgan

USAAAIG

Ind

ust

ry U

se c

ase

DIRECTLY RELEVANT TALENT ADJACENT TALENT BROAD TALENT

SAMPLE COMPANIES

Note: We have included only few sample industries, roles and companies for better understanding of categories. This is not exhaustive.

14

Industry wise talent distribution - Business Product Manager : 34% of the Business Product Manager Talent in US belongs to Retail or related industries

15.0%

19.0%

66.0%

US - Installed Business

Product Manager Talent

53,000

Horizontal Split Relevant Talent

Adjacent

Talent

Broad Talent

Directly

Relevant

Talent

Top Industries Major US LocationsMajor Companies

employing relevant talent

Software

San Francisco Bay Area

Washington DC Metro Area


Greater Boston Area

Internet


Washington D.C


Greater New York City Area

BFSI



Dallas/Fort Worth Area

Greater Los Angeles Area

Retail/ e-

commerce




Dallas/ Fort Worth Area

Logistics/

Supply Chain



Dallas/Fort Worth Area


15

Business Product Manager Talent Hotspot: US is home to ~53,000 business product manager talent ; New York, Los Angeles and SF Bay Area are the top locations with highest talent

53,000BPM Talent pool for 40+ analysed locations in USA

Adjacent Talent

Locations HC

New York 4,500

Los Angeles 3,100

Bay Area 1,900

Chicago 1,700

Boston 1,300

Atlanta 1,200

Dallas 1,100

Seattle 1,100

Philadelphia 1,000

Phoenix 1,000

San Diego 900

Houston 800

Washington 800

Denver 750

Minneapolis 700

Charlotte 650

Detroit 600

Portland 600

Miami 600

Orlando 400

Business Product Manager Talent Pool >2,000

Business Product Manager Talent Pool 1,000 -2,000

Emerging Locations with High Business Product Manager Talent Growth

Seattle

Portland

San FranciscoSan Jose

Los Angeles

San Diego Phoenix

Washington

Salt Lake

Minneapolis

Dallas

HoustonAustin

San Antonio

Atlanta

Chicago

Denver

Detroit

IndianapolisColumbus

RaleighCharlotte

Baltimore

Philadelphia New York

Boston

Jacksonville

Tampa

Miami

Orlando

Oklahoma City

Kansas City

St. Louis

Madison

Colorado Springs

Greenville

Milwaukee

Des Moines

Boise

Cincinnati

GreensboroLas Vegas

• Note : HC* - Includes Retail company profiles who have worked in retail product segments such as category management, merchandising etc• HC** - Includes Retail company profiles who have worked with vendor management products, solely product management roles

Locations HC

New York 1,400

Bay Area 1,000

Los Angeles 900

Chicago 600

Boston 500

Atlanta 450

Seattle 350

Dallas 350

Philadelphia 350

Minneapolis 300

Washington D.C. 250

Phoenix 250

Miami 250

Columbus 230

Houston 200

Portland 200

Tampa 150

Baltimore 150

Salt Lake City 150

Orlando 130

Austin 150

Directly Relevant Talent

16

0

1000

2000

3000

4000

5000

6000

7000

8000

50,000 60,000 70,000 80,000 90,000 100,000 110,000 120,000

Cost of Living

1.2 times

U.S. avg

< US

avg

Philadelphia

Atlanta

Denver

Minneapolis

Charlotte

Dallas

New York

Chicago

Portland

Seattle

Houston

Boston

Washington DC

Detroit

Phoenix

Orlando San DiegoMiami

Location Analysis Overview: Los Angeles, Dallas, Boston, Atlanta and Houston are preferred locations, considering good talent at relatively lower cost

Avg. Annual Salary

No

. of

Bu

sin

ess

Pro

du

ct M

anag

ers

(1-1.2)

times

U.S. avg

High

(>28 min)Moderate

(20-28 min)

Average commute time

Note: The talent numbers

San Francisco Bay AreaLos Angeles

Preferred Locations to hire from

UNITED STATES - LOCATION DEEP DIVE

18

Location Assessment: New York Metropolitan Area

3.5 hours from

XNA by plane

Location Attributes

DemographicsPopulation 20.2 Mn

Annual population growth1 0.4%

Quality of Life

Cost of Living relative to national average⁵

33% higher

‘Best Cities to Live In’ rank (out of 100) 81

Cultural diversity and LGBTQ tolerance (out of 100) ⁷

89

Avg. commute time 35 min

Corporate Presence

Number of Fortune 500 company headquarters⁸

75


Business Cost

Business costs relative to U.S. average

34% higher

Effective corporate tax rates⁹ (Low/Moderate/High)

High

Commercial Real Estate

Real estate cost $ 51/sf/yr

Annual growth of real estate cost¹⁰ 6%

Commercial real estate vacancy rate

12%

Annual growth of commercial real estate vacancy11 -2%

Overall Assessment: New York

Metropolitan Area

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes


Note: ¹current world population review; ²For talent employed by a firm only; 2011-2016 CAGR; ³Quality is concentration of workers with > 3 years experience who graduated from a top 20 computer science program; All locations in this analysis scored as High, Very High, or Exceptional. ⁴Based

on % of total occupations that are tech occupations. Scoring is relative to full set of locations in this analysis: “Low” is < 4%, “Medium” is 4%-6%, “High” is > 6%; More details in Appendix 1. ⁵’PayScale ⁶Ease of Living Index' based ranking by Ministry of Housing & Urban Affairs

(easeofliving.niua.org); ⁶Avg. annual cost includes benefits, non-wage compensation and real estate costs per worker. Firm-employed workers only; 2011-2016 CAGR. ⁷ Based on Cultural Diversity Index from WalletHub (75%) and Municipal LGBT Equality Index from Human Rights Campaign

(25%); ⁸ Fortune Global (http://fortune.com/global500/ ) ⁹Effective rate includes corporate income taxes, fuel taxes, sales taxes, property taxes; “Low” rates are <10%; “High” rates > 20%, all others “Moderate” ¹⁰ 2018 - Cushman & Wakefield, 11 2018 – Cushman & Wakefield, Office market

Snapshot; Sources: U.S. Census Bureau, Sperling’s Best Places, U.S. News Best Cities Ranks 2017 , WalletHub, Human Rights Campaign, CBRE Scoring Tech Talent 2017, Tax Foundation, Airline websites, U.S. Bureau of Labor Statistics

EST time zone

18

University Talent

Universities Graduates

New York University 50-100

Stevens Institute of Technology 20-50

Pace University 20-50

Talent Analysis

Talent availability

Directly Relevant Talent 1,400

Adjacent Talent 4,500

Cost oftalent Directly Relevant Talent $115,000

Top Employers

Directly Relevant Talent Adjacent Talent

Company Name Talent Company Name Talent

Macy’s 100-150 JPMorgan Chase 30-50

The Home Depot 20-50 AIG 20-40

GAP 20-50 Amscan 10-20

Ross Stores, Inc 20-50 LG Electronics 10-20

SAS Retail Services 20-50 PSEG 10-20

Old Navy 20-50 Chubb 10-20

19

Location Assessment: Los Angeles Metropolitan Area

3 hours from

XNA by plane

Location Attributes



Quality of Life


66% higher



86


Corporate Presence


23


Business Cost


7% higher


High





14%


Overall Assessment: Los Angeles

Metropolitan Area

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes







PST time zone

19

University Talent


Mount Saint Mary's University 20-50

Ashford University 100-150

National University 100-150

Talent Analysis

Talent availability

Directly Relevant Talent 900



Top Employers



Macy’s 50-100 Farmers Insurance 30-50

The Home Depot 20-50 Bank of America 20-30

SAS Retail Services 20-50

The Walt Disney Company

10-20

Target 10-20 Riot Games 5-10

Smart & Final 10-20 DIRECTV 5-10

Newegg 10-20 Wells Fargo 10-20

20

Location Assessment: San Francisco Bay Area

4 hours from

XNA by plane

Location Attributes



Quality of Life


143% higher



90


Corporate Presence


44


Business Cost


18% Higher


Moderate


Real estate cost $61/sf/yr



8%


Overall Assessment: Bay Area

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes







PST time zone

20

University Talent


University of San Francisco 5-10

Golden Gate University- San Francisco 10-20

Naval Postgraduate School 10-20

Talent Analysis

Talent availability

Directly Relevant Talent 1,000



Top Employers



Macy’s 50-100 Wells Fargo 30-50

GAP 50-100Pacific Gas and

Electric Company30-50

Costco Wholesale 20-50 CSAA Insurance Group 10-20

The Home Depot 20-50 First Republic Bank 10-20

Target 10-20 Netflix 10-20

Victoria’s Secret 5-10 JPMorgan Chase & Co. 10-20

21

Location Assessment: Greater Chicago Area

2 hours from

XNA by plane

Location Attributes



Quality of Life


11% higher



86


Corporate Presence


23


Business Cost


1% lower


Moderate


Real estate cost $30 /sf/yr



15%


Overall Assessment: Greater Chicago Area

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes







EST time zone

21

University Talent


University of Wisconsin-Platteville 50-100

Cornerstone University 20-50

Saint Mary's University of Minnesota 50-100

Talent Analysis

Talent availability




Top Employers



Sears Holding Corp 20-50 Allstate 30-50

Macy’s20-50

Blue Cross and Blue Shield of Illinois

20-50

The Home Depot 20-50 Bank of America 10-20

Costco Wholesale 10-20 Lawson Products 5-10

Target10-20

Robert Bosch Tool Corporation

5-10

Sam’s Club 10-20 Wilton Brands 5-10

22

5.5 hours from

XNA by plane

Location Attributes



Quality of Life


70% higher



89


Corporate Presence


11


Business Cost


22% Higher


Moderate





14%


Overall Assessment: Boston

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes







EST time zone

22

University Talent


Harvard University 5-10

Brandeis University 20-50

Granite State College 10-20

Location Assessment: Boston Area

Talent Analysis

Talent availability




Top Employers



The TJX Companies 20-50Liberty Mutual

Insurance 40-50

Macy’s 10-20 Bose Corporation 10-20

BJ’S Wholesale Club 10-20 Citizens Bank 10-20

Staples 10-20 Procter & Gamble 5-10

Old Navy 10-20 Reebok 5-10

Stop & Shop 10-20 Fidelity Investments 5-10

23

Location Assessment: Atlanta

2 hours from

XNA by plane

Location Attributes



Quality of Life


2% higher



68


Corporate Presence


23


Business Cost


12% Lower


Moderate





17%


Overall Assessment: Atlanta

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes







EST time zone

US

23

University Talent


Brenau University 20-50

Talent Analysis

Talent availability




Top Employers



The Home Depot 50-100InterContinental

Hotels Group10-20

Kroger 20-50 Anthem 10-20

Macy’s 20-50 SunTrust 10-20

Sam’s Club 10-20 AIG 10-20

Belk 10-20 UPS 5-10

Old Navy 5-10 Turner 5-10

24

Location Assessment: Dallas Fort-Worth Area

1 hour from XNA

by plane

Location Attributes



Quality of Life


7% lower



85


Corporate Presence


34


Business Cost


9% lower


Moderate





19%


Overall Assessment: Dallas Fort-Worth

Area

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes







CST time zone

24

University Talent


Dallas Baptist University 20-50

University of Houston 20-50

University of Phoenix-Texas 10-20

Talent Analysis

Talent availability




Top Employers



JCPenney 20-50 Bank of America 20-50

The Home Depot 20-50 State Farm 10-20

Macy’s 10-20 JPMorgan Chase & Co. 10-20

Sam’s Club 10-20 Travelocity 5-10

The Exchange 10-20 Travelers 5-10

Sally Beauty 10-20 TXU Energy 5-10

25

Location Assessment: Greater Seattle Area

5.5 hours from

XNA by plane

Location Attributes



Quality of Life


77% higher



74


Corporate Presence


12


Business Cost


3% higher


High





12%


Overall Assessment: Greater Seattle Area

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes







PST time zone

25

University Talent


City University of Seattle 20-50

Columbia Basin College 50-100

Edmonds Community College 20-50

Talent Analysis

Talent availability




Top Employers



Nordstrom 30-60 JP Morgan Chase &

Co.10-20

Amazon 20-50 BECU 5-10

Starbucks 10-20 Wizards of the Coast 5-10

SAS Retail Services 10-20Liberty Mutual

Insurance 5-10

Target 5-10The Walt Disney

Company 5-10

Fred Meyer 5-10 Wells Fargo 5-10

26

Location Assessment: Washington DC

3 hours from

XNA by plane

Location Attributes



Quality of Life


59% higher



77


Corporate Presence


10


Business Cost


21% Higher


High





17%

Annual growth of commercial real estate vacancy11 4%

Overall Assessment: Washington DC

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

Talent Analysis

Location Attributes







EST time zone

US

26

University Talent


University of the Potomac-Washington DC Campus 5-10

George Washington University 50-100

Georgetown University 150-200

Talent Analysis

Talent availability


Adjacent Talent 800

Cost oftalent

Directly Relevant Talent $110,000

Top Employers



Macy’s 20-30 Capital One 10-20

SAS Retail Services 10-20 GEICO 10-20

The Home Depot 10-20 NPR 5-10

Nordstrom 5-10 Marriott International 5-10

Costco Wholesale 5-10 VOX Media 5-10

Plow and Hearth 5-10 Allstate 5-10

27

Location Assessment: Houston, Texas

Talent Analysis

Talent availability


Adjacent Talent 800







Top Employers



Macy’s 30-40 Star Pipe Products 10-20

The Home Depot 20-30 Wells Fargo 10-20

Kroger 20-30Zions

Bancorporation10-20

Sam’s Club 10-20 Amegy Bank 10-20

Best Buy 10-20 Tokio Marine HCC 5-10

Fiesta Mart, Inc 10-20Center Point

Energy5-10

27

University Talent


University of Houston 10-20

Sam Houston State University 5-10

LeTourneau University 5-10

1.5 hours from

XNA by plane

Location Attributes

DemographicsPopulation1 6.8 Mn


Quality of Life

Cost of Living relative to US Avg⁵ 2% higher

'Quality of Living’ rank (out of 100) 20

Cultural diversity and LGBTQ tolerance (out of 100)⁷

81

Avg. commute time (one way) 29 min

Corporate Presence


43


Business Cost


1% lower


Moderate


Real estate cost $30/sft/yr



17%

Annual growth of commercial real estate vacancy10 3%

Overall Assessment: Houston

Early

findings

raise no

concerns

Limited

concerns, likely

not significant

Early findings

raise

significant

concerns

• Talent Analysis

• Location Attributes

• Business Considerations

CST time zone

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business product manager talent analysis - …...see slide 3,6,7 and 12 for detailed job...

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