In today’s post, I’m going to discuss office-space trends for 2016 with a bit of a twist. Usually we would just discuss the office design changes and what’s driving them. In our last post “Canadian businesses are having a 30% off sale” we discussed what should happen when the Canadian dollar falls to the levels it currently sits at.
Canadian economists and business people have been waiting for this phenomenon to kick in and everyone is a little perplexed that it’s either slow in coming or that things have changed considerably since the “great recession.” IMO, an opinion which is not widely held, I believe there are new factors at play that will see old trends in the way U.S. business people and consumers react to “Putting Canada on Sale.” We at Telsec Business Centres are mixed in our opinions as to whether U.S. business people will look to Canada to expand markets and whether consumers will buy more Canadian products.
There are those among us who expect U.S. businesses to start contacting us soon, and others who believe that the global economy, NAFTA and other changes have rendered Canada less competitive – and therefore the businesses who would have looked to Canada in the past have far more alternatives for sourcing or relocating manufacturing. This is primarily due to higher costs for wages, electricity and new pensions in Ontario that have increased costs for manufacturers to relocate to Ontario/Canada. Also, our manufacturers do not have the ability to compete with Mexican-made and others products that have lower input costs for labour and most other business expenses.
As I began to research this topic, one of the first search results I came across was from the February Commercial Real Estate Report from TREB (Toronto Real Estate Board). Their report indicated that there was an uptrend for industrial space, but there was a noticeable fall in office space leased and the $/sq ft. year over year. TREB saw this as a positive sign that there is either new demand for industrial space for manufacturers (whether that was an uptick in U.S.-based demand, or Canadian companies saw new opportunities open up in U.S. and other markets), or that the U.S. consumer has indeed begun to buy Canadian goods due to lower prices caused by the U.S. $’s rise.
The trends for office space design continue to see the office and workplace philosophies further departing from the traditional cubicle and offices, to one where space is more versatile, thus enabling companies to develop multi-purpose workspaces and non-assigned seating. The force behind this change is hugely influenced by the shift from management comprised of mainly baby boomers, to management seeing more and more millennials moving into these positions.
This infographic from Brighton School of Business and Management looks at workplace trends – such as more than 1 in 4 ‘Millennials’ will become managers in 2016, while office space is shrinking and will continue to do so in 2016. Another interesting fact from the infographic was their statement that, by 2020, the average sq. ft. requirements for employees will decrease to 150 sq. ft. from 400 in 1985!
The paper, Ethonomics: Designing For The Principles Of The Modern Workplace (authored by Teknion, in collaboration with design experts like Joan Blumenfeld, principal of Perkins+Will, one of this year’s Most Innovative Companies) revealed that the workplace is ripe for reinvention. As Blumenfeld recently told Fast Company:
“Workspaces should flex to provide a variety of spaces and destinations for workers to inhabit that promote movement throughout the day. While many companies are doing a good job of incorporating some of these elements into their workplace design, there’s a need for more awareness and implementation of this way of thinking holistically about the workplace.”
The paper also mentions the following as the trends to watch for in 2016:
Although the jury is out on whether or not U.S. consumers and businesses will take advantage of a strong dollar to locate offices in Canada and buy more of our goods and services, it’s clear that millennials continue to change the workplace philosophy and therefore office-space designs. Co-working and an increased need for closer collaboration are desires of the millennials in management positions – and their expectations of the workplace continue to drive changes in traditional office design.
1. Jennifer Smith
General Manager
The Omni King Edward Hotel
37 King Street East
Toronto, ON
M5C 1E9
Tel: 416-863-9700
Website: www.omnihotels.com/hotels/toronto-king-edward
2. Mark Perry
General Manager
Executive Hotels and Resorts (Boutique)
8 Colborne Street
Toronto, ON
M5E 1E1
Tel: 416-350-2419
Website: www.spazen.ca or www.cosmotoronto.com
3. Emeline Boul
General Manager
Hotel Victoria (Boutique)
56 Yonge Street
Toronto, ON
M5E 1G5
Tel: 416-363-1666
Mobile: 647-574-5832
Website: www.hotelvictoriatoronto.com
4. Omkar Sawant
Reservations Manager
One King West Hotel
1 King Street West
Toronto, ON
M5H 1A1
Main: 416-548-8100
Reservations: 1-866-470-5464
Website: www.onekingwest.com
5. Van Nguyen
General Manager
Cambridge Suites Toronto
15 Richmond Street East
Toronto, ON
M5C 1N2
Direct: 416-601-3757
Hotel: 416-368-1990
Website: www.cambridgesuitestoronto.com
1. Michael Pagliaro
Carisma (Italian)
15 Toronto Street
Toronto, ON
M5C 2E3
Tel: 416-864-7373
Website: www.carismarestaurant.com
2. Patti Shaw
Terroni (Italian)
57 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-203-3093
Website: www.terroni.com
3. Declan
Restaurant 20 Victoria – Michelin guide approved
20 Victoria Street
Toronto, ON
M5C 2A1
Tel: 416-804-6066
Instagram for reservations: https://www.instagram.com/twentyvictoria/
4. Mana
Nami (Japanese)
55 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-362-7373
Website: www.namirestaurant.ca
5. Restaurant Lucie
100 Yonge Street
Toronto, ON
M5C 2W1
Tel: 416-788-9054
Website: www.restaurantlucie.com
6. Niam H
Cantina Mercatto
20 Wellington Street East
Toronto, ON
M5E 1C5
Tel: 416-304-0781
Website: www.cantinamercatto.ca
7. Siva Sathasivam
Uncle Tony’s
38 Wellington St E
Toronto, ON
M5E 1C7
Tel: 416-455-6650
Website: https://uncletonys.ca/
8. Pizzaiolo
104 Yonge Street
Toronto, ON
M5C 2Y6
Tel: 416-860-0700
Website: www.pizzaiolo.ca
9. Robin Singh
Woods Restaurant and Bar
45 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-214-9918
Website: www.woodsrestaurant.ca
1. Thom Tullo
Morpheus8 by Inmode
47 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-863-6564
Website: www.amanspa.ca
2. Altitude Athletic Training
56 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-366-3838
Website: www.altitudeathletictraining.com
3. Physioheath Studios
33 Victoria Street, #130
Toronto, ON
M5C 2A1
Tel: 416-368-2525
Website: www.physiohealth.com
We are by far the most experienced and best coworking team in the market – established in 1980
18 King Street East, Suite 1400
Toronto, Ontario M5C 1C4 Canada
Please check out our 70 second video on our home page or click here:
Take a look at our facilities www.telsec.net
Telsec will Customize Your Client’s Office(s) Layout to Meet Their Requirements.
You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.