14.06.2011
War for Talent Goes Global
Report states growing firms in London will need 1.6million square feet of extra space - the equivalent to 4 Shards...
A report by BNP Paribas Real Estate was presented earlier this month who claimed that the City needed to find the space to accommodate the extra 11,500 employees being recruited by growing firms in London over the next three years. This would lead to a property boom as firms clamoured for up to 1.6 million square feet of space, the equivalent, it claimed, of four extra Shards.
The latest survey, published last week came from another recruitment consultant Astbury Marsden, claimed that 37 per cent of investment banks expect more jobs to be created in Singapore over the next year than in any other financial centre around the world. However 22 per cent of respondents believe London would add most jobs, around the same as Shanghai and Hong Kong.
The pressure for companies to keep their staff is increasing and a war for talent is driving a change for companies to provide high-quality working environments. Banks are looking to expand working space to ensure less densely populated offices, resulting in new office designs in a bid to keep their staff happy and ultimately strive to be successful.
Whichever survey you believe is most accurate, and allowing for the vested interests involved, the thing we can say with certainty is that this is a time of great change for the industry, not least as centres around the world battle it out for the best people.