by Shane Henson — June 27, 2014—Cushman & Wakefield, a global commercial real estate services firm, released a new report this month titled Human Capital: The War for Talent and its Effect on Real Estate.
According to Cushman & Wakefield, there is constant buzz around the “war for talent.” Whether through workplace designs that help foster collaboration, amenities that enhance work/life balance, or locations that draw the right professional demographics, real estate’s role in the talent war is increasingly important.
“Now more than ever, real estate plays a significant role in recruiting, retaining, and engaging talent,” said Debra Moritz, executive managing director and head of U.S. business consulting at Cushman & Wakefield.
Also, as Rick Cleveland, managing director of CIS Research and Strategy at Cushman & Wakefield, adds, occupiers are seeking real estate solutions that provide them with the best chance to capture the talent to drive corporate innovation. Given that labor costs typically far exceed real estate costs, occupier strategies include considering a workplace strategy as a way to contain occupancy costs before compromising on the cost and quality of labor.
The report notes that successful properties focus on the employee experience. Therefore, investor strategies include the need to ensure that capital improvement budgets focus on making the right investments to attract and retain talent in the industries being targeted.
