Developers and designers must adapt offices to meet the “war on talent”.

Modern commercial developments must respond to the reality that finding and retaining people, flexible working and technology are the key to business success in the 21st century.

Antony Oliver
14 June 2015

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Flexible and adaptable office working spaces that can meet the evolving needs of staff is increasingly a critical factor to modern businesses as they struggle to find and retain the best staff and tackle the so-called ”war on talent”, designers and developers heard last week.

Speaking at the London Real Estate Forum, leading developers warned that to attract tenants in to both new and refurbished commercial properties, they had to put people and their working and environmental needs top of the priority list.

“Leading businesses are looking to retain and attract talent and to get the best from their existing talent. It is no longer just about looking at the bottom line and cutting costs but about actually investing in people.” Kaela Fenn-Smith, Land Securities

“For businesses the question is how do you respond to the war on talent,” explained Paul Williams, Derwent London director, pointing out that across the business sectors, staff were increasingly the biggest risk to business.

“Going forward it is how do we adapt our portfolio and our leasing policy to adapt to the new world of working,” he explained. “How to make it bigger and better but also more adaptable.”

Referring to the recent White Collar Factory development in London’s Old Street tech-city, Williams said that that the key had been to really understand the tenants needs and to “provide a blank canvass” that could be adapted as required.

Land Securities head of commercial London Portfolio Kaela Fenn-Smith agreed that meeting the needs of people was now absolutely top priority for tenants in the capital.

“Leading businesses are looking to retain and attract talent and to get the best from their existing talent,” she told delegates. “”It is no longer just about looking at the bottom line and cutting costs but about actually investing in people.”

Fenn-Smith said research was available to demonstrate that staff were more productive when working in more creative environment and said that Land Securities now embraced this fact, embracing issues such as the amount of fresh air pumped into offices.

“Young people want spend time out of the office so you need to also improve the amenities and the retail opportunities.” Mark Ridley, Stanhope

“You need a healthy environment to get the best from people,” she said. 

However she also highlighted the need for developments to adapt to tenants need to continually boost productivity, particularly around the evolving use of technology and staff working patterns and flexible office needs, pointing out that a good technology platform and larger floorplate areas increased productivity. 

Mark Ridley, Stanhope commercial director also said that central London were focussed on the “struggle for talent” when decided where to base their businesses. 

“Real estate is all part of the offer but it is more than just the building,” he said. “Young people want spend time out of the office so you need to also improve the amenities and the retail opportunities.”