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1、Banking and Finance United States|April 2023Banking and Finance OutlookDriving innovation and resilience in banking:The critical role of real estate strategy The banking sector faces unique pressures in the current operating environment,grappling with unprecedented levels of economic uncertainty and
2、 a confluence of headwinds including the pandemics impact on hybrid work preferences,cost pressures in a rising rates environment,evolving customer expectations,geopolitical shifts,and increasing regulatory requirements.The structural and cyclical factors shaping the industry reinforce the criticali
3、ty of innovation and digital transformation in sustainable banking.Moreover,recent events in the banking sector have emphasized the importance of developing agile infrastructure to sustain resiliency.The challenging landscape has driven organizations to accelerate their digitalization efforts as a s
4、ource of resiliency and innovation.These efforts will lead to a fundamental restructuring of business models across the banking and financial services sector,and will have a significant impact on business priorities,the workforce,the workplace,and in turn,corporate real estate portfolios.By aligning
5、 real Executive summaryestate strategy with broader corporate goals,banks can ensure that their real estate is optimized to support their tech transformation,DEI and sustainability objectives,and other strategic priorities.In this report we outline how banks can build on progress to date to maximize
6、 efficiency and stay the course for long-term business growth.Banking and Finance Outlook/Executive summary2Sarah Bouzarouata Financial Services Research LeadTo keep up with the rapid pace of AI advancements and leverage innovation to maximize operational efficiency,real estate can be a strategic en
7、abler that supports broader transformation.To achieve this,financial services organizations should focus on the following:ManagementWorkplaceLocation Purpose,design,technology,cost Portfolio Hub/Spoke/Node Leadership driving culture Talent-driven,business-driven,gateways vs.emergingKey insightsCondu
8、ct a comprehensive review of your real estate portfolio to identify areas for optimization and align strategy with new hiring and business restructuring efforts.As part of this,prioritize sustainability in the leasing process to reduce operating expenses and meet decarbonization targets.1Consider th
9、e impact of talent and location on real estate strategy to support DEI and tech transformation goals and stay competitive in the evolving financial industry.32Accelerate digital innovation to improve operational efficiency and unlock new sources of value,and stay ahead of regulatory changes,evolving
10、 customer needs and growing competition.This can be achieved by implementing a strong real estate strategy that provides the necessary infrastructure to support advanced technologies.3By strategically diversifying portfolios in markets with niche talent pools and markets with scalable talent,banks c
11、an build a resilient workforce and position themselves for success in a rapidly changing landscape.Banking and Finance Outlook/Executive summary4Drive successful portfolio optimization and create a magnetic workplace that maximizes space efficiency by building a tech-enabled workplace that fosters i
12、nnovation,productivity,and engagement.This requires aligning performance measurements with strategic goals and leveraging real-time and predictive insights to enable quick decision-making and adaptability.By doing so,organizations can unlock the full potential of their workforce,improve space effici
13、ency,and drive long-term growth.Despite the global market volatility banks have faced over the last three years,they generally entered the period of disruption with strong asset quality,capital and liquidity ratios.This enabled them to serve as a source of strength for the economy,individuals,and sm
14、all businesses during the pandemic.However,persistent inflation and economic uncertainty have posed challenges for many institutions in recent months,leading to tighter cost management pressures.This is showing up in the form of reduced hiring plans than initially projected for the remainder of 2023
15、 and further portfolio optimization in terms of real estate footprint.In addition to traditional banking industry pressures,volatile technology stocks and rising interest rates caused fintech funding rounds and M&A activity to come to a halt in 2022,with US fintech venture capital funding dropping 5
16、0%y-o-y.Market turmoil impacted banks that were more reliant on investment banking for revenues,whereas more diversified banks remained in selective growth mode.Job cuts are occurring mainly within investment banking and mortgage lending,two lines of business that have been especially hard hit since
17、 interest rates began to surge last year,suppressing capital markets activity and tempering demand for mortgages in a cooling housing market.The major banks have also recorded job cuts in recent months to mitigate cost pressures in a period of economic slowdown.Despite ongoing plans to selectively r
18、educe headcount,five of the six largest U.S.banks employ a combined 120,000 more people today than in 2019.The increase in headcount can be primarily attributed to additional employees in technology and operations,as well as front office positions.Banking and Finance Outlook/Executive summary4Conduc
19、t a comprehensive review of your real estate portfolio to identify areas for optimization and align strategy with new hiring and business restructuring efforts.As part of this,prioritize sustainability in the leasing process to reduce operating expenses and meet decarbonization targets.1Operating th
20、rough change and uncertainty$238$48$213Banks that are less reliant on investment banking still in selective growth modeRising interest rates drive up compensation costs,exerting additional pressure on total operating expensesThe banking sector has been less uniform in its approach to job cutsBanking
21、 and Finance Outlook/Executive summary55 of the top 6 U.S.banks have added+120,000 jobs since onset of the pandemicThe labor shortage,coupled with inflation and rising interest rates,resulted in increased wages and continued pressure on bank expenses.Despite these challenges,organizations focused on
22、 investing in long-term growth while maintaining expense discipline.Banks pursued structural cost-cutting measures and transformed corporate functions in response to wage inflation,leading to a y-o-y increase in overall IT spending.Investments in technology and talent,including hiring,higher costs f
23、rom return to work,and client engagement,primarily drove the 5%y-o-y increase and 15%increase since 2019 in non-interest expenses within the banking sector.Banks anticipate an average 3.9%y-o-y increase in wages and salaries in 2023,compared to the 2.5%y-o-y increase in total compensation per full-t
24、ime-equivalent employee at U.S.banks in the third quarter of 2022.Note:Headcount data based on Q4 2022 regulatory filings Source:JLL Research960,000980,0001,000,0001,020,0001,040,0001,060,0001,080,0001,100,0001,120,0001,140,00020022Full-time employees of six largest U.S.banks$0$100$200$30
25、0$400$500$600N0n-interest expenses in$billions2019$224$46$1972020$252$48$482021Salary&benefitsPremises&fixed assetsOther expenses$261$48$2292022Source:JLL ResearchOver the next 12 months,do you expect average wages/salaries at your organization to increase,decrease,or remain the same?Banking and Fin
26、ance Outlook/Executive summary6Accelerating the net-zero agenda The banking sector is also facing acute pressures from regulators and will need to accelerate their approach to achieving net-zero to meet imminent regulatory requirements.Tighter regulation and scrutiny to combat greenwashing is also l
27、eaving banks more vulnerable to penalties and probes over misrepresented or exaggerated sustainability credentials.The Federal Reserve Board recently launched a pilot climate scenario exercise for the six largest U.S.banks and results are expected to be published by the end of the year.In Europe,the
28、 European Central Bank and the Bank of England have already launched supervisory climate risk stress tests to assess how prepared banks are for dealing with climate shocks.Meanwhile,initiatives like the UN-convened Net-Zero Banking Alliance(representing over 40%of global banking assets),the Glasgow
29、Financial Alliance for Net Zero and the Principles for Responsible Banking have pushed banks to provide evidence of their progress.34312772%Increase by5%4%3%1%1Dont know38%or more67%76%8Remain the same17Slight decrease 0Significant decrease1520Source:S&P Global,survey of 142 U.S.financial
30、 institutions was conducted Nov 16,2022,to Dec.14,2022#of respondentsBanks expect to see further pressure on wages in 2023A new way of working centered around education,engagement and equityBanking and Finance Outlook/Executive summary7The leading financial institutions are currently managing Scope
31、1 and 2 emissions for their operations and exploring opportunities to measure financed emissions and Scope 3 supply chain emissions in greater detail.While setting targets for operational emissions is commonplace for the leading banks,consistent timing or methodology for targets is not clear.Strengt
32、hening partnerships with owners and landlords to align on net-zero objectives will be critical in addressing data challenges to future-proof portfolios.JLLs Green Leasing 2.0 report outlines a new way of working centered around education,engagement,and equity to drive this change:Major global bank s
33、ummary Scope 1 and 2 emissions All organizations are verifying their data within the limited assurance methodology.All organizations have experience measuring Scope 1 and 2 emissions for several years.Measuring Scope 1 and 2 All are measuring business travel across their operations.Outside of operat
34、ions all are beginning to disclose upstream fiananced emissions in their annual sustainability reports.Scope 3 supply chain All have Scope 1 and 2 targets for their corporate operations.A consistent goal setting methodology is not yet observed.GHG targets for Scopes 1,2,3 All utilize the GHG account
35、ing protocol for their operational emissions.All organizations are currently measuring Scope 1 and 2 emissions utilizing an operational boundary with limited assurance.GHG protocol methodologyGreen leasing 2.0Beyond carbonData sharingExpert teamFlexibilityIntegrated processEducationEquityEngagementG
36、reen leasing 2.0Banking and Finance Outlook/Executive summary8Transitioning to green leasing 2.01Education Green leasing 2.0 requires education,upskilling,multi-stakeholder collaboration and behavioral change to achieve a“leapfrog moment”2Engagement Green leasing 2.0 goes far beyond contractual leas
37、e clauses it centers around ongoing collaboration between owners,occupiers and third-party stakeholders.3Equity Green leasing 2.0 entails new levels of cooperation,cost-sharing and co-investment between building owners and occupiers,as well as transparency on goals,plans and risk.Green Leases 1.0 Co
38、mpliance-based list of obligations Check-box exercise Costs Asymmetric information Static Basic green lease ambitions(energy,water,waste)State of implementation Leasing negotiationsGreen Leasing 2.0 Mission-aligned cooperation Ongoing collaboration Flexible Co-investment Cost savings Transparent Dat
39、a-driven and performance-based KPIs Tech-enabled Widening scope(social,climate risk,circularity,etc.)Stages of implementation:Location selectionLease negotiationsDesign of facilitiesOperationsEnd of leaseBanking and Finance Outlook/Executive summary9Revolutionizing banking:the power of innovation in
40、 boosting productivity and efficiency Accelerate digital innovation to improve operational efficiency and unlock new sources of value,and stay ahead of regulatory changes,evolving customer needs and growing competition.This can be achieved by implementing a strong real estate strategy that provides
41、the necessary infrastructure to support advanced technologies.2How AI is changing banking Artificial Intelligence(AI)and machine learning are being increasingly deployed in finance not only to reduce expenses,but also to remain competitive in the digital economy as customers expect a differentiated
42、proposition.In fact,traditional banks are accelerating the pace of innovation in response to rising cost pressures and intensifying competition for consumer attention and employee talent from fintech companies,neobanks,and Big Tech.Despite rising operating expenses,the usage of technology,data,and A
43、I to optimize costs,define new growth models,and enhance the customer experience has grown.Many organizations have already incorporated AI tech into their daily business operations to eliminate non-value adding tasks,such as using AI-powered virtual assistants for customers.For example,Morgan Stanle
44、y is using OpenAIs GPT-4 platform as a financial advisor solution to better serve clients and tap into the firms large repository of research and data.The idea behind the tool has been in development for the past year and is expected to roll out widely in the coming months.AI is also being widely us
45、ed in mobile banking apps and online loan applications.There is a growing need for digital and cloud-native solutions that use generative AI in post-trade processing to improve customer satisfaction and improve efficiencies.However,given the sensitivity of the data,cloud migration has been slower fo
46、r banks with many choosing to diversify the deployment of their IT assets in a hybrid model(running their own on-premises data centers alongside the cloud).While its too early to assess the full potential impacts of automation technologies on the labor force,early analyses suggest that generative AI
47、 has the potential to significantly disrupt labor markets and spur global productivity growth.A study led by OpenAI and the University of Pennsylvania identified financial quantitative analysts as one of the occupations highly exposed to advanced AI technology.Another study led by Goldman Sachs stat
48、ed that generative AI could replace up to 25%(or 300 million jobs)of current employment,and 35%of Business and Financial operations employment in the U.S.Both studies acknowledged that worker displacement from automation has historically been offset by creation of new jobs,and in many cases it will
49、allow for workers to apply some of their capacity toward productivity activities that increase output.10Banking and Finance outlook/Executive summary2023 spending on AI-centric systemsThe banking industry will deliver the largest AI investments in 2023Banking and Finance Outlook/Executive summary11T
50、he potential for significant labor market disruption and productivity growth highlights the need for banks and financial services organizations to transform the way they work,including reshaping portfolio strategies across office,retail branch,call center,and data center portfolios.Source:OpenAI,Ope
51、nResearch,University of Pennsylvania,“GPTs are GPTs:An Early Look at the Labor Market Impact Potential of Large Language Models”,March 2023 Goldman Sachs Economic Research,“The Potentially Large Effects of Artificial Intelligence on Economic Growth(Briggs/Kodnani)”,March 2023Increasing tech investme
52、nt has been at the forefront of banks spending priorities to increase speed,resiliency,and drive cost efficiency.Banks worldwide are expected to spend an additional$31 billion on AI embedded in existing systems by 2025,and will deliver the largest AI investments in 2023 across industries.One major g
53、lobal bank estimated a business impact from their AI investments of$1B+from 2020 to 2023.Applications and benefits of AI in building resiliency and supporting transformationOthers46.7%Processmanufacturing7.1%District manufacturing9.5%Professional services 10.4%Banking 13.4%Retail12.8%Banks are activ
54、ely enhancing their digital strategy by adopting new automated solutions to improve efficiency and provide better experiences for both clients and employees.The disruption caused by AI advancements has driven banks to partner with robotic process automation players like UIPath and MuleSoft to automa
55、te both back-end and front-end processes.Traditionally considered competitors,banks and fintech companies are increasingly collaborating to bring financial services to market and engage customers,particularly during a period of increasing cybersecurity breaches.These partnerships,though beneficial,a
56、lso introduce additional regulatory challenges as they navigate risk management.Fintech companies recently had more of an incentive to partner with banks as they navigated acute economic pressures amid stock market volatility and declining cash reserves at startups.Source:IDC(Worldwide Artificial In
57、telligence Spending Guide),March 2023Recent bank-tech partnershipsBanking and Finance Outlook/Executive summary12BankTech/FintechSolutionBank of New York MellonBNP ParibasDeutsche BankFirst Carolina BankGrasshopper Bank NAJPMorganSantander BankState Street CorpWells FargoFiserv,Inc.Fireblocks,Metaco
58、NVIDIARampFin Technologies IncMastercardSigFigAmazon Web Services,MicrosoftGoogleProgramming interface connectivityDigital asset custody offeringAccelerate AI usageCore FundingAutomated loan origination solutionPay-by-Bank serviceAutomated investment management toolCloud&infrastructureAI virtual ass
59、istant(Fargo)+=AI can also help banks support sustainability transformation as innovation across consumer segments including the modernization of retail bank operating models will play a significant role in accelerating net-zero agendas.Companies with upcoming data center lease expirations also have
60、 an opportunity to consolidate their data center footprint as they migrate to the cloud for better scalability.This migration has been a slow process due to risk concerns;however,it is being accelerated as a priority given the bold targets to reach net-zero.According to Microsoft,businesses using th
61、eir cloud infrastructure generate up to 98%lower carbon emissions than operating their own data centers.As banks continue to accelerate their adoption of innovative technologies such as AI and machine learning,corporate real estate portfolios can play a critical role in supporting this transformatio
62、n.The right real estate strategy can enable banks to attract and retain top tech talent,provide the necessary infrastructure to support advanced technologies,and create a flexible and agile workplace that can adapt to changing business needs.By aligning real estate strategy with broader corporate go
63、als,banks can ensure that their real estate portfolio is optimized to support their tech transformation and other strategic priorities.Ultimately,the success of a banks tech transformation will depend on a holistic approach that includes not only technology but also real estate strategy,talent manag
64、ement,and other key factors.Banking and Finance Outlook/Executive summary13Consider the impact of talent and location on real estate strategy to support DEI and tech transformation goals and stay competitive in the evolving financial industry.By strategically diversifying portfolios in markets with
65、niche talent pools and markets with scalable talent,banks can position themselves for success in a changing landscape.3A successful corporate strategy hinges on the right talent and locationTalent strategy is a critical component of long-term real estate decision making.Despite softening economic fu
66、ndamentals,the war for skilled talent shows no signs of abating.Over 50%of enterprises in North America surveyed by the IDC reported a general shortage of people with the right skills as the main reason job vacancies are hard to fill.This skills mismatch is driving the competition for talent,particu
67、larly within critical tech-centric and risk roles.With the pressure to meet corporate objectives and the need to support tech advancements,banks can restructure their real estate portfolios to attract and retain top talent and remain competitive in the digital age.“Everybody can have a similar strat
68、egy,incorporating cloud,artificial intelligence,focusing on speed and scale,”says Lori Beer,global chief information officer(CIO)at JPMorgan Chase.The difference,she adds,is“how you execute that strategy,and that comes down to people and the discipline you have around execution”.What do you think is
69、 the main reason the vacanies are hard to fill?Banking and Finance Outlook/Executive summary14IDC source:Future enterprise resiliency&spending survey-Wave 6,IDC,July,2022,n=507,NA:156,AP:212,Europe:139(difficult to fill vacancies)Global shortage of key skills/shortage of key talent continuesThere is
70、 a general shortage of people with the right skillsWe cant match expectations of flexible work modelsSalary levels are unaffordableGeopolitical events (including the Russian-Ukraine War)Other companies are better at attracting talent(other than salary and flexible work models)North AmericavAsia Paci
71、ficWorldwideEurope45%51%36%49%29%25%39%22%15%15%16%15%9%7%8%11%2%3%2%To keep up with the rapid pace of AI advancements,financial institutions are prioritizing hiring objectives to gain expertise in cloud computing,AI,machine learning,and programming.Software developers are now one of the most in-dem
72、and roles in the industry,and since 2018,the largest banks have increased hiring for software developers and data scientists by 90%.Conversely,the largest tech companies reduced hiring efforts and posted nearly half the job postings banks did following widespread contraction across the industry.Fina
73、ncial services institutions can leverage potential opportunities to source skilled talent from previously hypercompetitive labor markets.In addition to software development,cybersecurity and risk management are in high demand as banks face increasing regulatory pressures from the US Fed Reserve and
74、FDIC to improve risk infrastructure and internal governance.Banking and Finance Outlook/Executive summary15Banking industrys demand for critical tech talent accelerates ahead of the traditional technology sector14,20314,9829,25611,35213,1775,6175,4648,6407,0706,47211,41010,37002,0004,0006,0008,00010
75、,00012,00014,00016,000200212022YTD 2023Tech organizations(Top 25)Bank organizations(Top 25)Software developer and data scientist job postingsSource:JLL Research,LightcastThe pandemic accelerated a longstanding shift of organizations diversifying their portfolios to more affordable growth
76、markets.Since 2016,employment in select growing financial services(FS)markets increased by 24.3%,while employment within traditional FS markets saw minimal growth,at 0.6%.More recently,financial services firms have looked to diversify their portfolios for reasons that transcend cost optimization,ali
77、gning their location strategy behind a clear vision linked to business objectives that factor in sustainability,DEI,and technology priorities.Since 2019,net employment growth was primarily driven by Dallas(+32K),Atlanta(+13K),and Charlotte(+13K).Dallas now houses the second highest number of financi
78、al services jobs in the U.S.However,traditional financial centers still capture an outsized share of total employment at 22%and have recovered 97%of pre-pandemic job levels.Financial services firms are diversifying their portfolios to support long-term,sustained growthFinancial services employment r
79、elative to pre-pandemic levels90%95%100%105%110%115%Pre-pandemic2020202120222023Growing financial services markets(Atlanta,Austin,Charlotte,Dallas,Miami,Nashville,Phoenix)Traditional financial centers(New York,Chicago,LA,Boston,DC,San Francisco)Financial services employment relative to 2019(%)Source
80、:JLL Research,Oxford EconomicsBanking and Finance Outlook/Executive summary16+7.6%0.0%-1.8%+12.5%+0.8%+4.0%-5.4%+14.0%+0.5%+0.9%0M100M200M300M400M500M600M700MDetroitSan FranciscoWashington DCMiamiBostonPhiladelphiaLos AngelesDallasChicagoNew York20222019Financial services employment(2019 vs 2022)Dri
81、ve successful portfolio optimization and create a magnetic workplace that maximizes space efficiency by building a tech-enabled workplace that fosters innovation,productivity,and engagement.This requires aligning performance measurements with strategic goals and leveraging real-time and predictive i
82、nsights to enable quick decision-making and adaptability.By doing so,organizations can unlock the full potential of their workforce,improve space efficiency,and drive long-term growth.4Aligning real estate strategy to long-term growth objectivesSource:JLL Research,Oxford EconomicsFinancial services
83、employmentBanking and Finance Outlook/Executive summary17How are companies optimizing their portfolios today?Financial services organizations have generally focused on optimizing their portfolios with a long-term“people-first”mindset by building centralized hubs that allow for greater employee mobil
84、ity and reallocating capital to more affordable growth markets that offer diverse and tech-driven talent.Large financial services firms are prioritizing sustainability,direct access to the train station,consistency of floor plate,and efficiency as the top attributes required in asset selection.Workp
85、laces are being shaped around the human experience to build culture and redefine corporate brands.Organizations have largely consolidated their operations in markets with multiple office locations,with the aim of being able to continue to grow with a uniform floor plate to avoid ongoing reinvestment
86、s to accommodate the workforce.By doing so,they can create a cohesive and collaborative work environment that fosters innovation and creativity,attracting top talent and driving performance.Consolidating in metro areas allows organizations to break down silos and build a consistent culture,while pus
87、hing for flex options in non-core markets to enable agile ways of working.-8%net change in overall banking and finance footprint since 201972%have contracted their office portfolios since the onset of the pandemic28%have expanded their office portfolios since the onset of the pandemic Key banking an
88、d financial services office portfolio stats,top 25 occupiers:Finance recently surpassed technology in office leasing activity,yet contractionary requirements could indicate slowing momentum The finance sector has grown to comprise the largest share of leasing volume for the first time in over seven
89、years,although activity is slowing.Total financial services leasing over the last 12 months reached 29.4 million s.f.,surpassing tech by 3.0 million s.f.This represented a 16.8%decline from pre-COVID levels by comparison,tech leasing was down by 53%.Activity was primarily driven by expansionary leas
90、es signed by well-capitalized hedge funds and private equity firms,as well as relative stability in the sector.Even amidst uncertainty around future space needs,financial services organizations signed longer leases in Q1 2023 than pre-pandemic,reflecting their commitment to the role of the office in
91、 supporting long-term corporate goals.The average lease term length reached 8.4 years in Q1,exceeding the reported length in 2019 of 8.2 years.Since the onset of the pandemic,72%of the largest financial services occupiers contracted their office portfolios,mainly consolidating in core markets and re
92、ducing footprint in non-critical markets,while paying a premium for quality space.The contractions among the largest firms led to a net decrease of 8%in the overall banking and finance footprint since 2019.Sublease additions across the industry nearly tripled y-o-y,with fintech companies and home mo
93、rtgage lending companies accounting for over 65%of the largest sublease spaces added since Q1 2022.Markets with the highest exposure to these subsectors reported a disproportionate share of sublease space.Further consolidation from the major banks is anticipated through year-end as they continue to
94、restructure their portfolios,but some expansionary requirements will remain for key locations that will help further corporate agendas.While a majority of financial services firms consolidated in 2021 after the onset of the pandemic,well-capitalized companies,specifically hedge funds and private equ
95、ity firms,reaffirmed their long-term stances on innovation centers and continued expanding their portfolios.In the largest office lease signed in Q1 2023,Citadel took 585,000 s.f.at 350 Park Avenue,expanding their New York footprint.Tech-driven hedge fund Two Sigma also renewed for 260,000 s.f.at 10
96、0 Avenue of the Americas.TTM vs.2019 change(%)TTMleasing activity(m.s.f.)IndustryTTM rank2019 rankBanking and finance12Technology21Legal services34Health45Government5711.012.615.026.429.4-15.6%-30.4%-26.3%-53.3%-16.8%Banking and Finance Outlook/Executive summary18Source:JLL ResearchNote:TTM=Trailing
97、 12 monthsBanking and Finance Outlook/Executive summary19While a majority of the largest financial services organizations contracted since the onset of the pandemic,leading firms also restructured their portfolios to support their future state operations,selectively expanding in key markets that off
98、er scalability and affordability of diverse tech talent.Tech transformation was a main driver of recent office expansions as banks looked to deepen and differentiate their talent pools to push forward their agendas.Recently,many banks have launched or announced plans to launch new technology deliver
99、y hubs focused on talent.The new sites will allow organizations to tap into diverse talent pools and growing communities of tech and innovation talent while being close to customers.Markets that offer tech-focused,diverse talent pools can serve as centers of excellence to complement the head office,
100、providing greater employee mobility and supporting talent attraction and retention.Dispositions rise in markets with highest exposure to fintech and home mortgage lending companiesSource:JLL ResearchOther markets43.0%Boston5.8%San Francisco5.5%Los Angeles4.3%Chicago4.1%3.5%AtlantaPhiladelphia3.4%3.4
101、%HoustonWashington,DC3.2%2022 Financial Services leasing share by marketDallas-Fort Worth5.0%28.1%Other marketsNew York City18.0%Dallas-Fort Worth19.7%New York7.9%Oakland-East Bay7.5%Columbus7.5%Phoenix7.3%New Jersey7.2%Atlanta5.2%Silicon Valley3.3%Baltimore3.2%Indianapolis3.2%0%10%20%30%40%50%0%10%
102、20%30%40%50%2022-YTD 2023 Financial Services subleasing share by marketBanking and Finance Outlook/Executive summary20Thinking about the future workplacemagnetizing talent to the office through intelligent workplaces for frictionless workingA workplace that fosters innovation will require the right
103、technology to inform data-backed decisions on work design and functionality.Leading organizations can enhance their brands through their real estate,aligning strategy across business lines so that even bank branches,contact centers,and offices have a cohesive feel.Banks can use the workplace as a le
104、ver for talent attraction by building commute-worthy spaces that fuel innovation and creative thinking.Workplace strategies vary across functions,determined by corporate culture and regulatory obligations.However,financial services organizations that center the workplace ecosystem around the employe
105、e experience will influence performance and growth while attracting and retaining top talent.For example,a major global bank segmented employees into three user segmentsinvestment bankers,relationship managers,and tech-based employeesand tailored products and workplace offerings to each role to prov
106、ide the best user experience.Tech transformation a main driver of footprint expansions as banks look to differentiate their talent poolsNote:Includes planned office expansions Source:JLL ResearchDallasColumbusAtlantaMiamiCharlotteFort LauderdalePhiladelphiaRecent office expansions by banks Bank orga
107、nizationHQ locationExpansion marketStrategic growth focusBank of MontrealTorontoDallasTechBlackstoneNew YorkMiamiTechBNP ParibasParisMiamiGlobal marketsCapital OneMcLeanAtlanta,PhiladelphiaCreative and techComerica BankDallasDallasBusiness and techGoldman SachsNew YorkDallasMultiplePNCPittsburghDall
108、asTechTD BankCherry HillsFort LauderdaleTechThe Bank of LondonLondonCharlotteTechWestern Alliance BankPhoenixColumbusTechBanking and Finance Outlook/Executive summary21 Note:Firms are among top 10 financial service companies by asset size Source:JLL Research Below are select examples of the site fea
109、tures and amenities leading financial services companies are offering in their revamped HQ locations:As firms adapt to new hybrid work models and sought to manage operating costs,maximizing space efficiency has become a main focus.Desk sharing ratios of large financial services organizations increas
110、ed from 1.1 to 1.4 since pre-pandemic due to low utilization rates.These ratios continue to evolve as firms gather additional data to inform decisions and effectively distribute the space to increase engagement.Desk sharing ratios for large financial services organizations continue to evolve Platinu
111、m LEED building Direct underground connection to subway station Neurodiversity supportchoice of space to support all working types Intentional finishes to support calming,sound masking and dimmable lighting Architectural cues throughout the space that guide employees work journey Energy efficient,ne
112、w technology Daycare(automatic accessno waitlist)Open collaborative areas Meditation/prayer rooms Wellness and Mothers rooms Business lounges Coffee bars Event space and pop-up food service Work cafs with healthy snacks Separate VIP entrance to elevate the executive experience Quiet spaces for conce
113、ntration Medical Center Cooperative landlordsustainability,wellness and health and safety State of the art engineering design that maximizes HVAC efficiency and energy reliability00.20.40.60.811.21.41.61.8Firm 1Firm 2Firm 3Firm 4Firm 5Firm 6Avg pre-COVID ratio:1:1Avg post-COVID ratio:1.4Desk sharing
114、 ratioFirm 1Firm 2Firm 3Firm 4Firm 5Firm 6Firm 3Firm 4Firm 5Pre-COVID ratioPost-COVID ratioBanking and Finance Outlook/Executive summary22The measurement of workplace experience and employee engagement will be more influential in portfolio optimization decisionsCompanies are in the early stages of p
115、iloting new technologies that measure performance and engagement,though pressure to make assessments quickly is growing.One major financial services institution is asking employees to be in the office on Tuesdays,Wednesdays,and Thursdays each week to better assess performance data.Other firms are co
116、nducting real-time,continuous surveys with trigger-based question sets to better measure and assess the employee journey.JLL Occupancy Planning&Management assessed client data surrounding the implementation of various data types that banks are currently using to measure utilization in a hybrid work
117、environment,and provided insight on the best uses and risks for utilization data based on practical application by the JLL OPM team:Utilization data typesUsed for:RisksMacro-level utilization of building and portfolioTailgatingFloor-level analysis of space usePrivacy concerns around individual track
118、ingLocation chosen where tenant is the primary occupier and where sensors cannot be deployedAccuracy is always questioned,as a given individual could have multiple devices connecting to WifiUtilization per business and groups within business as well as building as a wholeDoes not reflect actual spac
119、e/seat utilization Real-time utilization details Multiple space type comparison Difficulty with wireless connectivity on campus Data utilization dashboard is difficult to comprehendMacro building level as well as by areas that are bookable Does not encompass non-bookable areas Employees book and do
120、not show up,or then sit elsewherePerimeter badgeSensorsWiFiFloor-level badge swipe dataInfogrid sensorsDesk-bookingBanking and Finance Outlook/Executive summary23To better understand workforce needs,productivity,and utilization,more sophisticated data science and statistical modelling techniques wil
121、l be required for strategic decision-making:The digital transformation now sweeping through every area of real estate is making it possible to generate far superior and more sophisticated insights.Ultimately,performance measurement in the future will have to align with strategic goals and include re
122、al-time as well as predictive insights which will enable the speed,agility,and rapid response that businesses will increasingly need.Meta recently stated that an early analysis of performance data found that engineers earlier in their career“perform better on average when they work in-person with te
123、ammates at least three days a week.”The study suggested that it is easier to build trust in person and those relationships help employees work more effectively.12JLL is partnering with neuroinformatics firm EMOTIV to study the neuroscience of workplace design.By investigating the brain patterns of p
124、eople at work,the insights will be applied to create optimized workspaces and curated experiences to improve employee health and well-being,while also increasing productivity.Data-driven solutions are essential for improving workforce performance and well-beingSource:JLL ResearchSource:JLL,“Metrics
125、that Matter”,2022The future state of metricsFuture statePeriodic data collectionBackward-looking,retrospectiveLearning too little,too lateSimplistic metricsLargely financial measuresDisconnected from wider strategyMetrics viewed as efficiencies and number to hitMetrics based around stakeholders need
126、sInconsistencies in data availability,collection,analysis and intergrity limit usabilityMetrics based on the needs of employees and other stakeholders as well as shareholdersMetrics used to drive transformation,enable and track value creationAligned with strategic aims and objectivesEncompasses a br
127、oad range of financial and non-financial measuresMetrics harness varied data and advanced analyticsResponsive,agile,adaptableA mix of past,present and future measures.Including forward-looking,anticipatory,predictive onesContinous,real time data collectionConsistencies achieved with standardized met
128、rics and clear data governance practiceCurrent state 2023(or current year)Jones Lang LaSalle IP,Inc.All rights reserved.All information contained herein is fromsources deemed reliable;however,no representation or warranty is made to the accuracy About JLLJLL(NYSE:JLL)is a leading professional servic
129、es firm that specializes in real estate and investment management.JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities,amazing spaces and sustainable real estate solutions for our clients,our people and our communities.JLL is
130、 a Fortune 500 company with annual revenue of$20.9 billion,operations in over 80 countries and a global workforce of more than 103,000 as of December 31,2022.JLL is the brand name,and a registered trademark,of Jones Lang LaSalle Incorporated.For further information,visit .About JLL Research JLLs res
131、earch team delivers intelligence,analysis and insight through market-leading reports and services that illuminate todays commercial real estate dynamics and identify tomorrows challenges and opportunities.Our more than 400 global research professionals track and analyze economic and property trends
132、and forecast future conditions in over 60 countries,producing unrivalled local and global perspectives.Our research and expertise,fueled by real-time information and innovative thinking around the world,creates a competitive advantage for our clients and drives successful strategies and optimal real estate decisions.It is not the strongest of the species that survives,nor the most intelligent that survives.It is the one that is the most adaptable to change.Charles Darwin(1809-1882)“