They want high-grade office buildings.
CBRE has released research into the economic impact of millennial lifestyles and aspirations on residential, commercial and retail real estate sectors in Hong Kong and across Asia Pacific.
According to a research note from CBRE, in Hong Kong, less than 50% of millennials say they are satisfied with their current office design and layout, aspiring instead to work in the newest, highest-grade office buildings that are beyond the financial reach of many employers.
Competition for talent is fierce in Hong Kong due to its famously low unemployment, providing local millennials with opportunities for job-hopping.
Here's more from CBRE:
However, on a regional level, job loyalty among millennials is actually higher than common perceptions would suggest: two-thirds of Asia Pacific millennials expect to work for the same company, or for a small number of companies, throughout their career, provided that employers can meet millennials' prerequisites of inspiration, responsibility and career progression.
People-centric workplace strategies that embrace diversity, choice and community—major draw cards for Asia Pacific millennials in career choice —can keep talent happier, more engaged and more productive.
Millennials comprise 25% of the total workforce population in Asia Pacific, but only 18% in Hong Kong. While salary and benefits are still the main draw when considering a job, millennials also factor in lifestyle elements such as office design, flexible working, location and commuting time.
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