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Communications
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Q1. How are we going to speak or explain to clients about the integration in just 1-2 sentences if they are asking?
We have prepared client FAQs and a reactive client deck that can be found in the downloads section. We have also proactively communicated with a number of key clients / enterprise clients, to update them on progress. If you have any questions, please reach out to Bernadette Keane Bernadette.keane@turntown.co.uk.
Q2. Will there be a communication sent to our clients re the exciting plan to combine CBRE Project Management and Turner & Townsend?
A written update was recently provided to CBRE and Turner & Townsend client leads to share with their clients. In addition, over the next few weeks, client leads will be contacting our clients to update them on our plans to combine and what this means for them and their business. We will be reassuring our clients that we will continue to offer a seamless service and our plans to combine will strengthen our ability to support them so they can continue to be successful at what they do.
Q3. How should we continue with new business and pursuits? What about engagements that extend beyond 1 January 2025?
It is essential that we all remain focused on winning and delivering business to meet this year’s financial plan and continue to develop and build the pipeline for future work in the combined business.
Q4. My team has asked if there is any guidance regarding LinkedIn updates and general comms to the industry from an individual perspective?
In early January, after the transaction has been completed, we will be issuing a press release alongside CBRE to use for external communications which will be available on The Loop. We will be posting on Turner & Townsend’s LinkedIn channel. Please use this opportunity, if you aren’t already, to follow us on LinkedIn and repost. And please update your LinkedIn profile to reflect you work for Turner & Townsend.
Q5. How will we do bids that are joint branded?
We will be uploading bid templates onto The Loop microsite for teams to download and use for bids etc. Look out for when these are available – we will signpost this in The Loop newsletter.
Q6. CBRE Project Management produces reports that we send to our clients and prospects, advance new business conversations and position the company as having an understanding of the economic forces in the markets. Will we still have access to the CBRE research department to develop these valuable in 2025?
CBRE PjM teams moving to Turner & Townsend will be able to benefit from Turner & Townsend’s research capabilities. Turner & Townsend produce leading market reports e.g. ICMS (International Construction Market Survey) and DCCI (Data Centre Cost Index) through research data provided by the economics team. These are very well received by clients and used for new business generation etc. To find out more about Turner and Townsend’s reports go to: Insights | Turner & Townsend
HR
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Q1. Will I get paid the same?
For CBRE Project Management colleagues: Your total reward package eligibility will remain unchanged during 2025. Our intent is not to change this, however if changes are required, your total reward will be equivalent to your current eligibility. Your annual salary review will be in line with your country’s current arrangements. For Turner & Townsend colleagues: Turner & Townsend’s benefit plans are commensurate with the plans offered by CBRE.
Q2. Will my bonus stay the same?
For CBRE Project Management colleagues: Your total reward package eligibility will remain unchanged during 2025. Our intent is not to change this, however if changes are required, your total reward will be equivalent to your current eligibility. Your annual salary review will be in line with your country’s current arrangements.
Q3. How will the planned integration affect opportunities for career advancement within the company?
This change will bring great opportunities. The planned combined business will have an increased geographical footprint, an enlarged client portfolio and access to some of the most exciting projects and programmes around the world. We believe ambitious, talented professionals will have access to some amazing opportunities and increased career pathways.
Q4. Does this mean partnership opportunities for Turner & Townsend staff are limited in the future as CBRE partners will be prioritised?
We expect the growth of the Turner & Townsend business to create greater opportunities for both CBRE Project Management and Turner & Townsend colleagues to become partners.
Q5. Who sets KPIs for performance which is aligned to bonuses in the future?
The bonus scheme for 2025 will remain administered the same way as 2024.
Q6. Annual appraisals happen at the year end. Will it be done for CBRE employees this year?
CBRE employees should complete the annual appraisal process in the usual way for 2024. The Turner & Townsend process runs to similar timescales. The approach will be reviewed and combined for 2025 as part of integration activity.
Q7. Will Turner & Townsend employees be integrated into a bonus structure that CBRE employees already benefit from?
A detailed review is underway to assess the fully integrated business. As part of that review the bonus structures for both businesses will be assessed. Further communications will follow during 2025.
Q8. When going through a change on this scale, are we using in-house capability for change management or external? Is there a way to leverage our internal skills and experience to support business change activities - whether at a global, national, or regional level? Are any of our staff being brought into the discussions as user groups, change agents etc. to help shape the changes to the business?
To support this integration, we have combined our existing change management expertise in CBRE and Turner & Townsend, with Deloitte appointed as our integration partner to help meet the increased demand. Our leaders across the global business will also have a role to play in supporting their people through change. Turner & Townsend will leverage existing employee networks, e.g. Turner & Townsend’s ‘Your Professional Future’ (YPF) and PjM councils to help shape the combined business; globally, regionally and by country. More details will be shared through your regional leadership teams in the next few weeks, with a focus on the f irst 90 days of our combined business.
Q9. Will there be an impact on salary and position for employees aged 55 and older during the merging process in CBRE PJM?
There will be no impact on salary or position for employees aged 55 and over.
Q10. Is there going to be a Change Management process to facilitate and encourage people to have a better understanding and approach of the process?
From 1st January, a 90-day plan will set out how our combined business will come together. This will include an Operational Guide that sets out the ways of working f rom Day 1. There will be events that will bring everyone together, that will set out our ambition and plan, help us get to know each other and provide leadership support.
Q11. For projects and proposals in 2025, is there a plan (and dates) for when both businesses can get visibility on resources and sharing staff for bids and backfilling on projects. Or for 2025, should we keep looking within Turner & Townsend only?
Country Managers will have access to our combined strength f rom Day 1. This will create more opportunities for everyone to work on a greater range of projects in their existing location or in another location if a transfer is appropriate.
Q12. How do I access Turner and Townsend careers to see what positions are available?
Please look on our careers page to f ind out more about the vacancies available: Careers | Turner & Townsend
IT
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Q1. Will I get a new laptop and mobile?
For CBRE Project Management colleagues: You will keep your current CBRE devices (computer, tablet, phone etc.). If there are any exceptions, the individuals impacted will receive detailed communications in due course. If your device is due to be replaced as part of the standard refresh cycle, this will proceed as per existing processes.
Q2. Will my email address change?
For CBRE Project Management colleagues: Globally there will be no change to email addresses on 1 January 2025. If there are any exceptions to this, the individuals impacted will received detailed communications in due course.
Operations
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Q1. Will I be moving offices?
For CBRE Project Management colleagues: There are currently no planned changes to office locations.
Q2. In the interview with Barry Sullivan on The Loop, he references the different working methods of CBRE and Turner & Townsend: "CBRE project teams primarily work under the principal delivery model (also known as turnkey), whereas Turner & Townsend is predominantly agency delivery. Please provide more details on these ways of working and how they differ?
Agency delivery involves Turner & Townsend and PjM acting as an agent overseeing contractors and sub-contractors, appointed directly by the client. The principal delivery model involves Turner & Townsend and PjM engaging with sub-contractors, directly, to deliver a project for the client. There are different types of Principal models that involve various levels of risk and liability in delivery.
Q3. What is the difference between Turner & Townsend and Turner & Townsend Heery. Aside from the merger, are these separate entities or would people who are Turner & Townsend employees be eligible to work on Turner & Townsend Heery projects and vice versa?
Turner & Townsend Heery is part of Turner & Townsend and all employees of the new combined business will have the opportunity to work across projects across the full platform.
Q4. We have quite a few framework responses we are working on, both new and rebids. Will markets where we now use CBRE entities remain the same in 2025 or will these now be all Turner & Townsend entities?
The majority of contracting entities will change to a Turner & Townsend entity on 1st January or during 2025. This is a complex exercise and there are different country level approaches to satisfy regulatory constraints. We have developed contracting dispositions to inform bidding in the short and medium term and any queries should be raised with your regional leadership.
Q5. What cost management processes will be adopted by each company? What tools or software will be used for cost tracking and reporting? How will the reporting structure for project costs change? How will stakeholders be involved in cost control decisions? Will training be provided on new cost control or systems? What metrics will be used to evaluate project cost performance?
We intend to work towards a globally consistent approach to cost management service delivery based on the best of both the Turner & Townsend and PjM approaches. This will be progressed post 1st January and will involve a wide range of stakeholders and be implemented in a structured way across the new combined business.
Q6. How do we ensure that business enquiries and leads for design is passed on to CBRE Design Collective from Turner & Townsend business leads? Will there be channels of communication created?
The strategic intention is to increase collaboration across the full range of CBRE services and solutions, including design. This will include a structured approach involving different forums and channels.
Finance
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Q1. Who will perform the services currently provided by BSO (shared accounting services)?
For the majority of countries and lines of businesses transferring, services and support functions will continue to be provided by CBRE over an extended period via TSAs (Transition Service Agreements).
Q2. How will SOX compliance impact the CBRE team transferring (and invoicing) on Day 1?
Certain Turner & Townsend UK and USA entities are in scope for SOX testing. Both countries will be under finance TSAs (Transition Services Agreements) on Day 1 which entails that the same processes are applied as currently run and therefore there are no changes to SOX compliance requirements on Day 1. If there are any changes in the future, we will provide the required training and guidance.
General
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Q1. Is there going to be a Change Management process to facilitate and encourage people to have a better understanding and approach of the process?
From 1st January, a 90-day plan will set out how our combined business will come together. This will include an Operational Guide that sets out the ways of working from Day 1. There will be events that will bring everyone together, that will set out our ambition and plan, help us get to know each other and provide leadership support.
Q2. CBRE has a 3X Business Model. What does that mean?
A 3X client is where CBRE provide integrated, full-service delivery across three service lines 1) Advisory & Transactions 2) Facilities Management & Engineering 3) Project and Programme Management. Following the proposed combination, Turner & Townsend will provide the 3rd X - Project and Programme Management f or CBRE’s corporate real estate clients.
Q3. Will the Building Consultancy (Consult) also migrate to Turner & Townsend?
Building Consultancy (Consult) will be transferring to Turner & Townsend and will be a global service line in the planned new combined business. We have ambitious plans to accelerate growth and market share in all global regions working with all CBRE lines of business and increasing the share of work with existing Turner & Townsend clients.
Q3. How will sales and solutions teams be unified into Turner & Townsend's business generation group?
The final operating model is being designed as part of the plans for the combined business.
Q4. How do we manage clients who are concerned about no longer having segregated brands for cost management and project management?
A combined rather than segregated service is a common approach with many of our existing accounts, both within Turner & Townsend and CBRE. We can demonstrate to our clients how we manage multiple services and achieve better outcomes through an integrated offering.
The Loop
This site is for your eyes only
You have access to The Loop as you are an employee of Turner & Townsend or CBRE Project Management. The information contained within this site is strictly for internal use only and is intended to keep you up to date on our plan to combine our businesses. Please do not share this site or its contents with anyone outside of these two companies.