As per the experts the full earning capacity of any real estate is accomplished when it’s not considered merely a commodity, but an experience. If you see the retail sector, this is what they’ve been doing. The retail shops create experiences for their consumers to compete with e-commerce companies. The technology firms take extra care in making their consumer experience a wholly seamless and private affair. But, if you take a step back and think over why the commercial real estate or the offices, in particular, are ready to spend hefty sums over the user experience – you’ll realize it’s not just for making them different, it is also for attracting and retaining talent. And the talent that’s young and fresh.
The workspace, the quality of the work environment, the building design, the neighbourhood, are all detrimental factors that work toward the uplifting of the employees’ work experience. The concept of “real estate as a service” is fast becoming a reality, as the mindset toward retaining valuable people walks toward prominence. Every company wants to have the right people in their talent pool and they all seek the right mix of amenities to create an environment where the workforce can thrive.
To help you out in making the office environment and retain young talent, here are some of the key factors that can work in your favour:
Make it Creative
The millennial workforce out on your office floor doesn’t want to be confined within cubicles. They want more open and interactive spaces in their workplace. Creative workspaces work wonder in creating workspaces that feed the creative-ideas-deprived minds of the young millennial, who want to feel energetic and motivated. Go for the breakout areas or entertainment zones in your workplace like video games on a large screen, table tennis, pool, or even a VR console. Other high-end options could be coffee bars and wine lounges with screens. These areas can easily generate energy, serve as a differentiator, and even impress young talent.
Don’t Forget the Traditional Amenities
Every working person today is looking for that work-life balance and wouldn’t hesitate to switch to a company that offers them a stable scenario. Millennial is very clear about this degree of separation and thus, before joining any organization they have increasingly high expectations about the work experience they’re going to dive in. Though your startup or company might be in a grooming stage and cannot afford facilities of higher value, you still shouldn’t be avoiding the traditional amenities which has the power to satiate common expectations. From easy access to food options and personal care services to upscale amenities like fitness centres, financial services, parking, among others.
Technology is Important
Technology in the workplace is prevalent and important. Almost 90% of the young talent in your company has grown up being surrounded by technology that they put into use every day. Applying these technological changes at the workplace would be readily welcomed by the young pool of workers and a few might even come ahead to help team members of all ages. Artificial Intelligence and the Internet of Things will instill a sense of better understanding of the workplace. Technology that can improve air quality, control energy usage, and enhance mobility as well as space usage, are just a few of the basics that can be installed readily. Other technological integration like the preventative maintenance, task automation and direct access to services and/or partners can also adhere. Modern mobile-based functioning like apps providing directions, building calendars, special discounts, bookings and common area & conference room space reservations, automation of security, lights, and check-in etc.
Wellness of Employees Should Become Priority
There’s a deeper connection between health and productivity that has always been overlooked. Companies often forget to look at employee wellness in the workplace. A healthy mind promotes the free flow of ideas and ultimately growth among the young talent. Therefore, incorporation of physical amenities that can take the young minds a little away from the work pressure so that they come back at it with full vigour, is highly in demand. Creation of outdoor courtyards and green terraces, yoga or other fitness classes, or something as simple as the improvement of ergonomics which can provide respite from one’s desk – is highly appreciated by the young talents who also have a concern for nature conservation, apart from their work. The process of placing the right amenities at the workplace is still in a relatively early stage. A majority of the changes can be seen in technology companies and high-end startup markets targeting hip companies and young talent. However, as the expectations and the landscape of office products and occupier types are changing, both investors and occupiers should be proactive in mixing themselves with the right office amenities.