The City of London is one of the world’s leading financial and business centres, operating and competing on a global platform, and so highly responsive to changing market trends and economic shifts. These features mean that in a UK context, the City is often at the forefront of change in the workplace and the built environment.
Evidence suggests that the City’s economy is robust, with significant growth forecast over the decade ahead; though employment growth will not automatically translate into space demand as occupiers strive for ‘spaceless growth’. The blend of industry sectors in the City is becoming more diverse, and at the same time, the traditional boundaries between sectors are eroding in business terms as firms require increasingly similar skill sets. This will have a growing impact on workplace requirements as workers and work processes become increasingly similar.
Workplaces are increasingly used less as static backdrops to routine solitary work, and are increasingly managed more like hotels than a traditional office, with a high level of service and experience for ‘guests’. Space allocation in the workplace has changed significantly with the traditional mix of desks and offices yielding to a richer palette of work settings.
The City of London has a young, highly skilled and highly productive workforce that is ever more demanding, prioritising flexibility and choice. The City’s workforce will become an increasingly important consideration in workplace provision as employers seek to provide workplaces that not only attract and retain highly skilled staff, but which also provide an environment aimed at maximising productivity.