‘Smart offices’ could boost economy by £70bn
Smart use of office spaces to make them more conducive to productive working could boost the economy by as much as £70 million, according to new research.
A poll of business leaders, property experts and academics by the Stoddart Review found only around half (53 per cent) of employees say their current working environment allows them to work productively.
Authors of the report, The Workplace Advantage, say a major rethink of the workplace is needed in order to deliver productive workplaces fit for today’s workforce.
James Sutton, executive director at the British Institute of Facilities Management, said: “Raising productivity levels is essential to delivering stronger economic growth and we can see here the impact that workplace can have if it is leveraged as a strategic asset.
“Those leading the review were continually reminded that the purpose of the workplace is to make employees as effective as they can be. When workplace is hardwired into an organisation’s purpose, values and brand it drives pride and engagement and unlocks discretionary effort.”
The report’s recommendations include:
Making the workplace a board-level issue and giving the CEO and HR director an influential role in workplace design.
Encouraging more informal work spaces that allow people to meet, relax and work in different ways.
Giving workers a greater role in workplace design by making them ‘workplace champions’.
Polly Plunket-Checkemian, programme director of the Stoddart Review says: “This report is a wake-up call for us all; business and the workplace industry supporting it. For some time, business has been comfortable with staff appraisals in order to link their people’s pay with performance. These tools now exist for the workplace. The Review has found that those organisations who measure, set targets and appraise the performance of their workplace are likely to deliver high performing environments.
“There is no one size fits all solution. How you choose to invest in the space, the people responsible for it and the solutions you seek from the supply chain can change overnight with one simple shift in focus. Reframe your focus to revenue per square foot, not cost per square foot. In so doing, unlock your hidden performance lever. CEOs ignore the economic potential of smarter workplaces at their peril.”
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