Employee experience comes to the fore
Global Market Perspective, November 2019
Workplace amenities which were once viewed as luxuries are increasingly becoming the norm as companies look to drive productivity, increase engagement and attract and retain staff through a focus on human experience. With labour markets exceptionally tight in many markets and flexible space providers setting a new bar for hospitality-style perks, companies are investing in amenities ranging from on-site fitness centres to convenience services, concierges and community managers in an effort to stand out and engage employees.
Investment in workplace technology is also coming to the fore as businesses look to provide employees with a personalised experience. Technology is expected to be the largest investment priority for companies over the next three years according to JLL’s Future of Work Survey, with workplace and employee experience applications the highest priority for future investment, while Internet of Things (IoT), smart technologies and data warehousing are also key priorities.
Location strategy rising up the agenda
Concerns around talent availability, and the need to balance investments in workplace amenities and technology against the financial impact of real estate portfolios on corporate balance sheets, are taking on greater urgency in relation to location strategy decisions. With global economic growth slowing during 2019 while talent availability remains limited and pressure grows to invest in employee experience, many companies are actively reviewing their location strategies and portfolios. Creating a sustainable balance between finding and tapping into new talent and investing in the workplace while managing operating costs will be crucial in optimising real estate portfolios in coming years.