Technology Redefining Asia Pacific Workplace and Workforce

Businesses are undergoing rapid evolution in the present digital age. It has impacted long-term commercial real estate revolution in Asia Pacific with technology being the primary catalyst. Corporations have recognized the urgent need to restructure their operations based on new technology which will also require innovative talent management to facilitate the change. Companies can now transcend traditional expectations based on location with the advancement in technology; instead employee experiences have now become the focus of majority of real estate decisions across the region. 

As per a research conducted by CBRE on ‘Arrival of the Tech Age – Is India CRE ready to embrace the change?’, technology will modernise Asia Pacific’s corporate real estate landscape over the next few years, with landlords likely to emerge as the greatest agents of this transformation. The decision for corporations are now formed by connectivity and accessibility of the workplace location as well as focus on talent attraction and retention. Constant technological advancement is reversing the decision-making process for firms and individual employees are increasingly becoming workplace influencers for the advent of these new business models.

In 2017, CBRE embarked on a survey of industry leaders to understand how these issues are redefining corporate real estate and how companies must equip themselves for this change now. Top level conclusions and implications for investors and developers include:

Agile technology leads the way for APAC workplaces

Companies are restructuring their operations around new technology and will require innovative talent to facilitate this change. Location used to be a major determinant of where business is conducted but mobile technology is reducing the need for fixed sites. Corporate real estate strategy will place a far stronger emphasis on an end-user experience enhanced through technology.

People to become the focus of the workspace

The move towards a tech-enabled workplace is driving a stronger emphasis on improving the end-user experience. More than half of occupier respondents want a more customized workplace environment that adapts to the needs of their people.

Mobility is rewriting office demand

As mobile working takes hold across Asia Pacific, companies will create office environments that improve staff satisfaction and comfort. The user experience will influence real estate strategies, and technology will enable employees to customize their working location, allowing them greater flexibility in choosing, how, when and where to work. Corporates will increase headcount of IT professionals and outsourcing/offshoring, whereas a net decline is expected in the back office function.

Landlords are the enablers of change

Occupiers are the activists in changing the workplace environment. The partnership between landlords and tenants must be established more closely to develop smart buildings with early engagement at the planning stage to ascertain the required features and technology to address their needs. While incorporating technology in new buildings will be relatively straightforward, retrofitting older properties is expected to be more challenging.

Technology has started to exert a greater influence on all aspects of our lives across various dimensions and is greatly impacting workplaces. It is impacting the way we all work and forcing a real shift towards greater collaboration, a more holistic employee experience and true wellness in the workplace environment. It has streamlined business operations, has aided mobility and agility and induced faster learning to provide a tech-enabled environment encouraging employment productivity.