In fact, it was cited as the key challenge in 40% of responses – ranking well ahead of competition, regulation or any other issue. Meanwhile, firms showed particular respect for the technology education and technology ecosystem in China, with Beijing and North China, Shanghai and East China, and India (notably Bangalore) seen as key sources of talent.
On another note, talent is getting younger. According to the report, Millennials make the top or joint top employee age group for two-thirds of the tech companies in the study. With that said, companies may need to locate in the central business district (CBD) or within the fringes of CBDs to access the best talent pool. In fact, the survey revealed that this is where internet and IT experts are located. They also form the group predicted to be in the highest demand in the future, followed by hardware experts.
Additionally, Colliers reports clear signs of recovery in many segments of the property market in Singapore for Q3 2017. For example, CBD premium and grade A office rents rose for the first time in nine quarters, up 0.4% QoQ, signalling a turnaround for Singapore in Q3 2017. Not only that, occupancy fell only slightly in Q3 under the weight of the final batch of new supply coming to market this year, reflecting healthy net demand.
Michael Bowens, executive director, occupier services, Singapore, Colliers International, commented: “The workplace strategy for technology occupiers will be mainly determined by factors such as the changing demographic profile of the workforce, considerations of staff well-being and uncertainty over future headcount needs amid the proliferation of AI and automation.”
“In addition, workplace design – whether activity-based or agile working – will not only define space usage but also impact talent retention,” he concluded.
Lead Photo / 123RF
Table / Colliers International