A SHIFT toward employee-centered businesses is one of the key trends that service-oriented markets such as the Philippines and Australia will be seeing this year, as the growing outsourcing sector creates competition among companies.
In a report, Stuart Munro, Colliers International director for workplace strategy, Australia said that increasing employee engagement is becoming a trend among corporations to be able to improve productivity and retain the talent of employees.
This is mostly evident in service-oriented markets such as Australia and the Philippines, as firms that cater to the business process outsourcing [BPO] sector seek to provide cheaper but efficient labor cost to the global companies that they serve.
“This optimizing of efficiency has meant that organizations have been able to increase their revenue per employee, resulting in a more competitive business, but with a higher dependency on good people,” Munro said.
Munro said the focus of companies on their employees is creating competition in the market as they fight to acquire the best talent they can find both in the local and global market.
“It has also become imperative for organizations to have strongly defined purpose and values with authenticity and increased flexibility for individuals,” Munro said.
Besides increased employee engagement, Munro also said another trend in the office market is the growing workplace needs of corporations as they are realizing the importance of the physical work environment and how this affects the productivity and performance of employees.
Munro noted that workplaces are becoming more sophisticated and malleable as organizations are becoming more specific with their preferences in terms of the workplace environment.
“A lot of effort is being placed in understanding the different archetypes of workers within an organization. When considering the collective behaviors and ideas that make up an organization’s culture, having a strong understanding about people’s personalities, soft skills, emotional intelligence and collegial abilities means workplaces can be tailored to support and drive the behaviors which will make them successful,” Munro said.
Dinbo Macaranas, Colliers International senior market analyst for office services, echoed Munro’s sentiment as he said the trends mentioned by Munro are also present in the Philippine workplace.
“Interestingly, these trends are also very real in the Philippines. Clients have become more discriminating in their preferences for office spaces,” Macaranas said.
He noted that developers or workspace providers who lease out office spaces to tenants should take note of these trends, as these will shape the office sector.
“The increased investments from foreign companies, driven by the exponential growth of technology, together with the Filipino talent’s adaptability to these developments, it appears that these trends will likely continue to shape and re-shape workplaces and the local office space segment,” Macaranas said.
“It is incumbent upon various stakeholders to foresee potential changes and prepare for them,” he added.