Research by PwC (Millennials at work: Reshaping the workplace) shows that from 2020, half of all employees will be millennials (roughly speaking, those born between 1985 and 2000). The workplace expectations of these new talents would appear to differ from those which organisations have been used to so far. What should a facility manager take into account now that the number of millennials preparing to enter the workforce is growing?
The workplace is more than a place to work
Organisations which only offer flexible workplaces need to devote some thought to other methods of making millennials happy in the workplace. This might be done by offering supplementary facilities; for instance, 36 percent of those asked thought the presence of a wellness or relaxation area is important, while only 14 percent of organisations actually offer this. Other issues which millennials consider important include an eating facility, coffee bar, sleep/rest area, and the provision of greenery.
These observations are supported by recent research by Deloitte (the 2017 Deloitte Millennial Survey). This survey concludes that millennials are open to flexible workplaces, but are however fearful that their workplace will become sterile and impersonal as a consequence. They feel the workplace should be a cozy place where they feel at ease. By offering more than just a place to work when setting up the workplace, organisations take these concerns seriously…
[Admin: To see other related posts, use the Planon tag or Workplace tag.]
The new rules for lease accounting will make a significant mark on the corporate world. In 2019 organisations which report under FASB or IFRS will have to show virtually all their leasing contracts in their balance sheets. Sounds logical? Currently, only 15 per cent of the 3,000 billion euros of leasing currently appear on balance sheets worldwide, so the new rules will certainly have a significant impact…
Many organisations now use off-balance leasing contracts, including for major liabilities such as renting an office building. The premises and the rental liability are, however, not shown on the balance sheet, so that ratios appear to be more favourable. This will change with the new rules in 2019, but large organisations will already need to introduce these drastic changes now.
Accounting firm PWC has calculated what the introduction of the new rules means right now. In the retail sector, debt on the balance sheet would double; for instance, solvency would drop from 41 to 27 per cent, and the debt ratio would rise from 1.1 to 2.5 times the operating result.
A threat? In fact I would regard it as an opportunity, certainly for property managers. It will become more relevant to consider your real estate critically and to apply alternative concepts, for example by reducing the quantity of property and by enhancing its flexibility…
The plot thickens for public companies learning the ins and outs of the brand new accounting standard that brings leases on to corporate balance sheets, as they now face a long list of implementation decisions and business implications.
Accounting experts say they don’t expect any significant pushback on the requirements of the standard or the effective date, which is 2019 for public companies, so they are urging companies to move forward with preparing for the standard. “There’s a fair amount of both challenge and opportunity with this standard,” says Anastasia Economos, a partner with EY…
The Big 4 accounting firms PwC, KPMG, Deloitte, and EY want companies to take advantage of their lease accounting resources…
- Join Deloitte for a 90-minute Dbriefs webcast on Tuesday, March 15, 2016, at 2:00 p.m. Eastern to learn about FASB’s new lease accounting guidance and the associated implementation challenges. Earn up to 1.5 Intermediate CPE credits for attending. Learn more and register now.
- Read Deloitte’s Heads Up publication for a comprehensive summary.
[Admin: This post is related to the 08.12.15 post about the KPMG Leasing Tool for IBM TRIRIGA.]