SINGAPORE, Sept. 8, 2013 /PRNewswire/ -- Forty four percent of companies surveyed globally plan to expand in India over the next three years, but the country's vast cultural diversity is one of the biggest challenges they will face when it comes to driving workplace transformation in the country, according to a new report by global real estate advisor Jones Lang LaSalle.
India Corporate Real Estate Trends shows that 22 percent of both Western and Indian corporate real estate (CRE) executives based in India view complexity arising from cultural diversity as a major limitation for workplace transformation, in comparison to the seven percent global average (figure 1).
Yash Kapila, Managing Director, Corporate Solutions, India at Jones Lang LaSalle said, "Accommodating diversity in the workplace is challenging, especially when companies are required to create productive and coherent spaces at the same time. India's astounding diversity of religions, languages and cultures requires businesses to adopt a more tailored approach to workplace transformation, based on a deep understanding of the country and the culture."
As both Indian and Western companies seek to capitalise on India's economic growth, there is increasing pressure to contain costs while enhancing workplace productivity. The report shows that 89 percent of CRE executives in India, compared to 72 percent globally, are being challenged by their senior leadership to impact and add value to the productivity of their workplace (figure 2). Boosting productivity through real estate is a high expectation amongst companies across the globe and is moving beyond the workplace to include people, business and asset productivity.
Mr Kapila said, "In India, more than in most countries, enhancing workplace productivity is a strategic priority and this calls for more commitment from CRE teams. Workplace transformation projects offer CRE teams a unique opportunity to demonstrate value to the business. However, lack of investment capital, cultural diversity, employee resistance and lack of continued support often stop complex projects from being completed successfully."
The report shows that 72 percent of CRE teams in India do not feel well equipped to address the increasing demands of senior leadership and are at risk of under-performing. However, India's BPO culture nurtures the readiness to adopt outsourcing models and solutions making outsourcing the delivery of CRE services to external partners an increasingly accepted and cost effective solution for both global companies looking to expand into the country and Indian companies looking at domestic growth.
Notes to editors
- Download the full report: http://gcre.joneslanglasallesites.com/images/pdf/en/India-CRE-Trends-2013-Final.pdf
- Download the infographic: http://gcre.joneslanglasallesites.com/images/pdf/en/India_CRE_Infographic.pdf
- Visit the microsite: www.joneslanglasalle.co.in/IndiaCRETrends
About Jones Lang LaSalle Corporate Solutions:
A leader in the real estate outsourcing field, Jones Lang LaSalle's Corporate Solutions business helps corporations improve productivity in the cost, efficiency and performance of their national, regional or global real estate portfolios by creating outsourcing partnerships to manage and execute a range of corporate real estate services. This service delivery capability helps corporations improve business performance, particularly as companies turn to the outsourcing of their real estate activity as a way to manage expenses and enhance profitability.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. www.ap.joneslanglasalle.com
SOURCE Jones Lang LaSalle