We are excited about this latest issue of our newsletter, not only because it is the first one we have produced in English, and because we currently have some very interesting and valuable properties to highlight for readers’ attention, as well as some useful observations about the state of the market over the last several months, but also because of our special feature on Wellness at Work.

This theme increasingly has an impact on the choice and management of real estate because it is becoming more and more important for companies for several reasons. Competitive companies wish to:

• Attract and retain the best talent in the market
• Comply with various regulations or best practice guidelines regarding employees’ wellbeing
• Benefit from their investment in their employees by freeing them to be as productive as possible

Of course, “Wellness at Work” encompasses various factors such as health and safety provision, working conditions and personnel support systems, as well as the physical working environment (addressed in my earlier post on green buildings and our winter newsletter Hiver 2010-11 (in French—please see my post Luxembourg commercial real estate initiatives 2011 for an English summary), but leading edge companies are taking it even further as they respond to the needs and expectations of an increasingly sophisticated workforce. In the process, these enlightened firms are also discovering that reducing employees’ stress in appropriate ways ultimately benefits the bottom line.

Acting on behalf of some of our clients, our Research Assistant, Jennifer Venne, was able to interview representatives of two companies who specialise in providing on-site concierge services to employees of progressive companies. They offered examples of the types of services often requested, and described the benefits these offer to both employers and employees. The interviews took place in French, but are reported in our newsletter in English for the benefit of a wider readership.

As always, we would love to hear what you think, and especially if you have any personal experience of this new trend. In your opinion, are these manifestations of the “Wellness at Work” philosophy genuinely beneficial and do they make sense financially, and have you seen, or do you foresee, any direct or indirect impact on real estate as a result?