Maintaining a competitive advantage in today’s business environment requires the continuous innovation of new products and services. Companies across all industries are competing fiercely for new ideas and new ways to engage customers and prospects. While there are a host of business challenges, from the slow growing global economy, to an increased regulatory environment, to new geo-political risks, perhaps the biggest challenge facing companies over the next decade is labor. Finding the right talent to help the organization compete and innovate is, and will continue to be, a significant issue in the coming decade.
Real estate has a role in assisting the corporate enterprise with recruiting and retaining labor. Whether through workplace designs that help foster greater collaboration and give birth to new ideas, amenities that enhance work/life balance, or locations that appeal to a broad array of workers, real estate’s role with respect to the recruitment of labor has changed. Employees are demanding that certain elements be part of their experience and occupiers are responding with new and innovative ways to use real estate as a recruitment tool. Real estate strategies focused on recruiting and retaining talent are also contributing to significant changes in real estate market fundamentals across the U.S., and these changes could have profound implications for where and how people work for a generation.