September 18, 2017
The mega trends that continue to reshape the workplace around the world
Last week, over 600 workplace and property experts met in London at the CoreNet Global Summit 2017 to discuss some of the most important trends affecting the sector. The debates underlined one important fact about property and workplaces, which is how they are shaped by major, globalised events as much as they are local needs and the objectives of specific organisations. This quickly became evident on day one, which demonstrated how dramatic shifts in the geopolitical landscape, all of which are impacting corporate real estate – from America First to Brexit – remain key talking points for the industry. Opening speaker Linda Yueh (University of Oxford and London Business School) explored several possible scenarios, including how the focus of ‘Trumpism’ would have a significant effect on the U.S. role on the world stage, with the priority on the domestic economy leaving little scope for global trade. She also predicted that a ‘hard Brexit’, with no new trade deal with the EU, will be the most likely outcome for the UK’s withdrawal process; and that businesses will need to focus on alternative WTO rules as an urgent priority. Other impacting factors covered by Yueh included the rise of a dominant global middle class, and China’s need to rebalance its economic growth drivers.
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The majority of North American office workers expect their employers to provide technology that allows them to work from wherever they choose and three quarter of employees (74 percent) would rather leave their job to work for an organisation that would allow them to work remotely more often, even if their salary stayed the same. This is because working remotely has moved from being a work perk to a necessity of 21
Employees who feel trusted by their employer to manage how and when they work for themselves can improve their levels of productivity, a new survey suggests. The research by Peldon Rose claims that UK workers rate feelings of trust and autonomy from employers and colleagues as increasingly important in keeping them productive and happy in the workplace. But the survey also shows that many employers are failing to provide employees with the resources and support they need to manage their workload and keep them motivated. Although the majority of staff (59 percent) say they work most productively in the office, a third (33 percent) wish they were more trusted to manage how and when they work and 42 percent say that their office does not support a culture that allows them to work flexibly. Despite the clear value that staff place on trust and autonomy, employers are overlooking an opportunity to create a confident and self-motivated workforce.
The creative industries sector accounted for over a third 35 percent) of take-up in the regional office market in the first half of the year, with this sector in particular driving the co-working revolution and the provision of flexible office space. Latest figures in CBRE’s H1 2017 Property Perspective, which monitors the performance of ten regional cities, overall, the UK’s regional office markets saw continued demand in the first half of 2017, with office take-up reaching 2.8 million sq ft, only slightly lower than the five-year average. For the first half of 2017, several cities witnessed improved levels of take-up when compared with the first half of 2016, these include Aberdeen, Edinburgh, Leeds and Manchester. Select locations such as Reading, Maidenhead and Watford also saw a continuation of record rents being set during the first half of the year, which has largely been driven by the delivery of new developments.
