A successful real estate strategy hinges on Millennials : Here is what they want

Abstract

Millennials are projected to make up more than half of the workforce in a matter of two years, yet many workplace environments still cater to prior generations’ needs — in large part due to limitations in understanding what Millennials truly want. Building on findings that office and workspace design affect Millennials´ happiness, motivation, productivity and well-being more than any other generation, this paper highlights key findings from an extensive global study that explores how the millennial generation chooses to live, work and play and translates those findings to best practices for building an office environment that caters to those needs. We find that Millennials might not fit certain preconceived notions of their workplace perferences: they are not entitled and eager to move between jobs; they are eager for a separation between work and leisure; they are striving for the elusive private office as opposed to enjoying the open office concept; and they are open to moving outside of the big city for the right office environment. These findings indicate new opportunites for extra-urban campuses, but also offer key lessons about the provision of flexible office spaces and targeted amenities.