The CBD Transformation and its Impact on employers and the commercial property sector
The CBD is undergoing a transformation according to many business leaders and workplace experts – and this transformation is forcing employers and the commercial property sector across Australia to think more creatively and collaborate in new ways to attract more workers back into our cities.
According to The Future of Work survey from PwC, 66% of respondents said they would prefer to connect with people at a physical workplace than work remotely.[1] CBD-based businesses can use this strong desire for connectivity to their advantage to attract and retain talent.
The Shift Towards Hybrid Work
Based on The Office Clash survey of Australian workers in May 2022 by RMIT Online, 71% of them want to work at least one day from home and 56% want more than one.[2] Factors including age, commute distance, and current office working models all affected the results, as 60% of employee respondents claimed that saving money was one of their primary reasons for not wanting to go back to the office according to the study.
Ways of working have changed permanently; flexible commuting is here to stay, and workplaces are likely to continue to be more transient and tailored to the demands of a hybrid workforce.
Adapting to New Realities
The question that remains is how can employers and property landlords adapt to this new reality?
Employee benefits, beyond remuneration, are becoming increasingly critical in attracting and retaining talent in a tight labour market and in encouraging workers back into offices.
A competitive package includes rewards and benefits that are aligned with employees’ values and needs.
Changing Commute Preferences
Research from Transurban shows that one in four commuters are changing the way they travel to work with most of them switching from public transport to private vehicles. [3] So, employers – and by extension property landlords – who can make the commute easier and more cost-effective for more employees will be highly valued.
Responding to Employee Values
To encourage employees to return to the office, employers must respond to what they now value the most: convenience, flexibility, value, and ease. To accommodate this, parking operators need to continue to improve the parking experience by providing even more convenient and flexible parking options.
The challenge for employers is to implement new ways to manage and maximise the usage of their parking capacity, while also providing a solution that is easy for staff to use and offers a seamless and convenient technology experience.
Technological Solutions for Parking Management
Newly developed technology platforms and apps now provide landlords and businesses with an enterprise solution with flexibility to self-manage their staff parking.
These technologies provide end-to-end parking management solutions, allowing companies to maximise their available parking allocation. They typically comprise three key elements: an Administration Portal, a Staff Parking App, and Access control.
Collaborating for Effective Transformation
Working with the commercial property sector and businesses ensures the transformation of our CBDs is swift and effective by making cost-effective parking accessible to more people and providing technological solutions to employers and landlords. This technology enables tenants to maximise parking within their existing parking infrastructure, whether that’s bays in a public or private car park.
Enhancing Commuter Convenience
Commuters want more convenient ways to prepay their parking to reduce stress, and provide more flexibility and reliability. These advancements are an important step in supporting businesses to more efficiently and effectively cater to the new ways their employees want to work and commute, and an opportunity for landlords to offer their commercial tenants more value in this flexible era.
[1] PwC Australia, Future of Work: Thinking Beyond.
[2] RMIT Online, Office Clash: How Back-to-Work Policies are Dividing Management and Workers.
[3] Transurban, How We Are Working and Travelling.
