In India, 55% of Millennial choose jobs based on the office space! Surprising isn’t it? You may wonder who are these millenials. Millennials in India, are the youngsters who are between the age of 18–35yrs. They are the chief earners with 47% of share in the working population. These millennials are rapidly growing source of spending power. Their growing influence is already driving new trends in real estate markets across the region, making it essential for occupiers, retailers and developers to gain a thorough understanding of their behaviours, requirements and priorities. Millennials are often perceived as preferring informal employment, changing jobs regularly and avoiding financial responsibility.
Companies should utilize their office space to attract good talent. The importance millennials place upon their office space was reflected by a large majority of respondents (as per the research conducted by CBRE) who said they would be willing to make sacrifices such as moving to a less attractive location or travel further to work. This suggests that high quality offices in suburban locations can be viable options for companies seeking to attract millennial employees.
Millennials seek work that provides them with inspiration, responsibility and career progression. While salary and benefits are still the main draw, millennials also consider lifestyle elements such as office design, flexibility, location and commuting time. Millennials view their office and its immediate
surroundings as not just a place of work, but as a community where they can relax, socialise and engage in other activities.
Finally, companies need not confine themselves to locations in city centres — millennials are happy to work in decentralised areas, as long as transportation networks and supporting facilities are of a high standard.