LONDON-Generation Y, a generation of digitally sophisticated 20-30 year olds, are now starting to dominate the workplace, and Colliers International believes their demands for flexibility at the office and technology will change how work space is used for the next few decades. Colliers created a study on the issue for the Swedish development firm Skanska, and has now expanded the work into a six-volume study for the office industry.
Colliers Corporate Solutions Head Guy Douetil tells GlobeSt.com that by age 38, an average Generation Y worker will have had 14 different jobs, equating to one job every two years. This presents a real challenge for all companies with a desire to retain their best staff, Douetil says.
To compete, he says corporations need to adapt to five alternative working strategies. These include efficient use of office space, more flexible workstations (not necessary smaller), sustainable practices and more data center development.
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Colliers researchers analyzed the motivations and behaviors of Generation Y to understand the way in which they work and the resulting implications for the real estate market. These workers have grown up completely immersed in information technology and rapid technological change, with the availability, for the first time in history, for almost any member of an office to work from anywhere outside the office. Thus, these workers expect flexibility with work schedules, and also expect their workplace to value output rather than showing a face eight hours a day in a chair.
While some global firms see this movement as a reason to cut down on office space, Douetil says that while efficiency is important, the modern office doesn’t need to be smaller. “What we’re currently seeing is that corporations are trying to grow their companies and their people without growing their infrastructure. This might restrict the need for additional office space as they grow but at the moment does not mean a net loss of space,” he says.
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