Millennials drive changes to modern workplaces amid changing expectations

Millennials are driving huge changes in the commercial sector with their expectations of an ideal workplace environment.

It’s a trend that’s forcing a reinvention of the modern office with significant ramifications for developers and property owners.

A recently released report from property specialist CBRE Research examines thoughts about the workplace from among a sample group aged between 22-29 years of age.

At a top level it found that 74 per cent are employed and 18 per cent of them have incomes of $100,000 per annum – or more.

However, it was other attitudes that attracted the most interest: when looking for a job, wellness/relaxation and green spaces are favoured by 74 per cent – and some 61 per cent want to work for a small company or single company – a loyalty indicator that surprises some commentators.

CBRE Canberra associate director Zoe Ferrari says the workplace has become a key factor in a business’ ability to attract and retain top, young talent.

“Commercial developers and property owners really need to understand the change in mindset among the younger employees,” she says.

“The workplace environment has emerged as one of the key factors for Millennials in accepting a job.”

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Ferrari says the research is currently showing a huge mismatch between what younger employees are looking for and what their office buildings are offering.

“Forty per cent of respondents indicated wellness and relaxation facilities – like gyms and chill out areas – would have a real influence on them when considering a job offer,” she says.

“But only just over 10 per cent say they are in buildings that currently offer those facilities.”

Green spaces and rooftop gardens are also a big ticket item with around 30 per cent of respondents while, again, only around 10 per cent of buildings are providing them. Childcare facilities are a growing issue with around 15 per cent of Millennials, but with only about 4 per cent of buildings getting a tick.

On the positive side of the ledger, most respondents report that end of trip facilities, bike racks, cafes and the ability to receive deliveries are all exceeding their expectations.

“Developers and building owners who might be looking to refurbish need to really consider tenant needs and ensure their building amenities closely match expectations in today’s workforce,” Ferrari says.

“Your workplace environment can become a point of differentiation in the competitive world of talent attraction and retention.”