In the ever-evolving domain of research and development, companies need to keep pace with changing technologies and trends. The game changer in this scenario is finding the best workplace for Research and Development (R&D) companies involved in fields ranging from engineering to biopharma. Going beyond housing high-tech equipment and hazardous materials or designing laboratories, the right workplace must allow these firms to respond quickly to major evolving trends. Continue reading “Things to Consider When Finding the Right Workspace for R&D Companies”
When it comes to real estate, the location has been the single most important factor governing the choice of many businesses. With time, workplace strategies have evolved and the trend is skewed in favor of skilled talent. The quality of skilled talent has become a critical aspect of any company’s success and access to this talent pool now decides the location of an office.
Companies scouting for space for headquarters or branch offices are narrowing down their choices around local talent pools. It has become imperative to have a strategically located office in the best location to appeal to skilled talent. Continue reading “Creating Office Hot Spots to Attract Talent”
Over the years, commercial buildings have been built, used and maintained in the same way. Whether it is a common area lighting that turns on when the sun sets and goes off when it rises, or 24/7 central air-conditioning that is set to a certain temperature and run constantly, most buildings have operated with individual systems working independently of each other. This is now changing with smart buildings. Integrated Building Systems (IBS) are what makes a building ‘smart’. In these cases, all the systems involved in the functioning of the building can communicate with each other, as well as with the energy provider, through new and advanced technology.
What is a Build-to-Suit lease?
Build-to-Suit Leases (aka. Design-Build) are those in which companies select a real estate partner to design and execute the building of a workspace tailored specifically to their operations, requirements and vision. In exchange, the firm accepts a long term tenancy agreement following the completion of the building.
Today, with information at our fingertips, we find ourselves multitasking on a daily basis. In many industries this hyper-connectivity has redefined the work culture for professionals. Inevitably a new range of Flexible Working Arrangements (FWAs) have emerged with the hope of attracting and retaining talent. Some of the more popular concepts are job sharing or part-time work, flexitime, compressed workweeks, telecommuting and “results only” workplaces.
As appealing as it may sound, flexible work comes with its share of pros and cons. Consequently, an increasing number of companies, like Google, are providing a range of extra facilities to employees. Their goal is to encourage employees to work from their offices at regular hours, and, thereby, foster collaboration and innovation within the company.
1. Decrease in communication
Flexible working limits collaboration, which then results in the work-flow, productivity and quality of work being compromised. Otherwise simple tasks, like scheduling internal or external client meetings become tedious. Managers struggle with reduced visibility across the company. Furthermore, employees are deprived of impromptu brainstorming sessions which sometimes lead to the best breakthroughs for business development.
2. Managing work and incentives fairly
A big concern with FWAs is the fair distribution of work amongst full-time and flex-time employees. One person’s right to flexible working could become another’s burden. Discerning between competing requests for flexible hours could lead to complicated employee relations. On the other hand, providing growth and promotion opportunities for the non-full-time workers can be just as tricky.
3. Chance of burnout
When work can go wherever you go, you could be expected to deliver from wherever you are. Ambitious, but unplanned, working increases stress levels and takes a toll on personal health. People who aim to accomplish multiple tasks through flexitime, run the risk of breaching health and safety regulations if they attempt to trade-off their breaks or downtime.
4. Data security
Employers risk exposing confidential documents when they allow telecommuting or the use of personal devices. Environments, in which sensitive data is being worked on, cannot be controlled. Further investment in the software required to secure these systems is essential and very often an expensive affair for the company.
5. Building the company’s culture
Companies find it difficult to cultivate brand loyalty from within, if their employees don’t have the chance to build a rapport with them or each other. Flexible working reduces the opportunities to achieve this.
Even when FWAs may prove to be beneficial, their adoption calls for extensive planning. Often they are promoted for ‘family-friendly’ aspects, without a sufficiently resourced management to support them. Flexible working is not conducive to all individuals and industries. If applied carelessly, these methods are more detrimental to a business than useful. As the traditional work place evolves, it will continue to retain its core values of collaboration, innovation, dialogue and camaraderie, making it truly irreplaceable over time.