Based on the findings of the 2016 Occupier Survey, CBRE today released an infographic on “The Future of the Office,” detailing a change in occupiers’ mind-set and how employee satisfaction will play an important role in their workplace decisions going forth.
Details of the findings and summary of the infographic:
- For occupiers considering an office move, the three most cited items to consider were (1) a more convenient commute and location; (2) cost (rent, utilities, etc.); and (3) a building's level of earthquake resistance.
- The top three risks occupiers were expecting to face were (1) a shortage of workforce and talent; (2) economic uncertainty; and (3) rising costs. These results were identical to that of the previous year’s survey and reflect concerns regarding the overall environment, i.e. Japan’s labor shortage, the rising labor costs due to a shrinking population, and increasing uncertainty in the Japanese and global markets.
- Occupiers identified the following as the top three ways to increase employee satisfaction: (1) a more convenient commute and better location; (2) the quality of the workplace environment; and (3) a flexible workstyle. This is the first time a ‘flexible workstyle’ has appeared in the top three; it is telling of occupiers’ goal to attract and/or retain talent by offering a workplace that is suited for a diverse group of people and their different needs.
- Since last year, the number of respondents who have or are planning to introduce hot-desking has doubled. Furthermore, compared to 44% in 2015, this year’s survey showed that 53% of respondents have or will allow tele-working.
- The top four office areas occupiers were most interested in were: (1) Marunouchi, Yaesu, and other areas around Tokyo Station; (2) Shinagawa, Hamamatsu-cho, and other locations near Shinagawa Station; (3) Toranomon; and (4) Shibuya, Ebisu, and other areas around Shibuya Station. These areas are either close to an existing major railway terminal or are expecting a new station to be built. In addition, a relatively large volume of new office supply is scheduled to be built over the next few years in these areas, including several high profile buildings. The convenient location and upcoming construction projects make these areas attractive to current and prospective employees, and therefore to occupiers.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.co.jp
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