Intergenerational diversity and the office workforce – The Property Chronicle
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Intergenerational diversity and the office workforce

Investor's Notebook

In this era of major technological advancements, the Covid-19 pandemic has supercharged changes, especially in the way we communicate and work. Organisations are changing rapidly to a flexible digital office environment. While the talk is prominently about co-working space and working from home, there is a need to focus on the most expensive cost: the space user. In many organisations, it seems current strategies for office workers are linked to an approach of one space style meets everyone’s requirements.

Organisations need to understand that mono workspaces may not attract and retain valuable workers of all ages. Historical reasons for leaving a job, after salary, is often the work environment. This has been amplified by the pandemic with remote working, as many workers are now enjoying a better work/life balance with increased flexible work preferences.

In embracing flexibility, agile workplace solutions can balance the needs of the multigenerational workforce and create the desired productive benefits that are cherished by modern companies. In regional locations, for approximately every pound spent on space, £10 is spent on the employee salary. This places the corporate versus the individual demand in perspective, with the physical attributes of the workplace representing a key element of the organisational systems, processes and culture.

There are four significant generations in the workforce: Baby Boomers, Generation X, Generation Y (Millennials) and Generation Z. Figure 1 details their profiles, preferences and work motivations.

Investor's Notebook

About David Higgins and Peter Wood

Prof. David Higgins and Peter Wood are senior academics and part of the Property and Planning Research Group at Birmingham City University. Both have extensive industry experience and regularly consult to property clients on the changing real estate landscape.

Articles by David Higgins and Peter Wood

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