Generation Y: Implications for Office Markets

by CoyDavidson on July 14, 2011

What does Generation Y have to do with real estate?

If you’re interested in how office markets will look and behave in the future this report will give you some ideas. This paper is the first in a six part series of reports exploring the different aspects of how Generation Y will impact the real estate market including:

  • HR implications for occupiers in terms of the need to adapt policies which enhance employee recruitment, management and retention;
  • Implications for the design and format of office space in terms of the need for effective optimization and workspace planning strategies;
  • Strategic office market implications – the supply/demand equilibrium and implications for owners, investors and developers in terms of how this may affect your office asset management strategy, what to buy/sell and what to build.

This report follows several months of research on a unique research report for Skanska to help them understand what motivates Generation Y in the workplace. In particular, we were asked why it was so difficult to retain Generation Y staff beyond a two year horizon and how could Skanska better understand this group in order to keep them actively interested and employed within their organization.

Following our analysis of the motivations and behaviour of the Generation Y group, we soon realized that the way in which they work, and would increasingly like to work, has far reaching implications for the real estate market. Hence this is the first in a series of reports.

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