Office modernisation, and, ultimately, the optimal office represents tremendous untapped value. The £36.8 billion opportunity that the Economy of People represents can bene t all types of organisations, contribute substantially to the United Kingdom and Ireland’s GDP, and, therefore positively affect people in both countries. The question every organisation must answer is what their appropriate path is. Whilst the ultimate execution might seem daunting and complex, the root of the strategy remains simple. Begin with your people and the way they work. As we have seen throughout this report, the most effective strategies will take a holistic approach to workplace modernisation that considers cultural, workspace and technological needs. It’s a balance between employee needs and executive alignment, decision-making and investment. Within each of these core areas, there are several takeaways to consider. However, the path to the optimal office isn’t the same for every organisation. Understanding the workstyle that best fits your organisation’s needs is critical, which means workplace strategies must start with developing a deep understanding of how people work and the impact they have on the organisation.
By fully understanding elements such as workspace environment, working patterns, technology infrastructure, culture and other key factors indicated throughout this report, organisations can best determine what affects employee performance, creativity and productivity, which, in turn, affects organisation performance and growth. As we have seen throughout this report, the most effective strategies will take a holistic approach to workplace modernisation. It’s a balance between employee needs and executive alignment, decision-making and investment. Within each of these core areas, there are several takeaways to consider. Specifically:
Maintain current course on culture but be prepared for change. Currently, employees and employers agree that culture is extremely effective at improving business performance and aspects such as employee satisfaction, well- being and motivation.
Be prepared to focus more on your organisation’s ethics, values and overall purpose. Younger workers (Gen Y & Z) are in search of organisations that are more aligned with their own personal values, signalling an evolution in the meaning of company culture.
Creativity doesn’t begin and end with culture. Creativity needs to be nurtured. As we saw in the study, executives believe culture is the most important catalyst of generating creative ideas. However, when compared to employees, it becomes clear that the path to performance and creativity requires a balanced mix of workplace attributes to successfully generate creative thinking.
Make consistent investments in office environment, however large or small. The office environment and personal workspace can directly influence employee performance, productivity and even attitude towards work. Executives have seen strong returns on their investment. Even small improvements to the office environments have made a big difference to employees, proving consistent investment is critical.
Don’t underestimate the importance of personal workspace and operating procedures. Employees clearly value atmospheres that are structured, organised and complete with personal space to allow them to both perform and be productive.
Closely evaluate employee demographics to understand their unique needs. A younger workforce values a fixed office location and close proximity to transport links as important drivers of productivity. Older generations are more likely to prefer working in other locations, such as on the move or in other offices.
Flexible working is more complex than simply working from home. Employees believe they could be more productive when working remotely but need the right tools and technology to do so.
Results will follow, and they will fundamentally change your organisation. When executives were asked to estimate the impact of an optimal office environment on the productivity of their organisation, the vast majority said they would see an increase up to 10%, making it vital to unlocking GDP.
Focus on core technologies first. There is disparity between employers and employees in what they rank as drivers of productivity. Employees value core technologies, such as infrastructure and digitisation, which have become the hallmarks of successful digital transformation strategies.
Executive leadership teams should align before executing a strategy. CEOs were found to be out of alignment with the broader executive team, especially around the current and potential impact of technology on productivity.
Your path depends on your industry and sector. Different sectors have different priorities. For example, employees at financial services firms report significantly more opportunity to unlock productivity through use of business applications and workplace productivity tools, whilst employees at business and professional services firms believe more highly in the need to digitise information and create digital work flows.
Ireland is an exception, but organisations should remain focused. Executives are committed to focusing on core technologies but should continue to optimise in order to realise the full potential of an optimal office.
Whilst there is a lot to consider and the ultimate execution might seem daunting and complex, Ricoh believes the root of the strategy remains simple: focus on people first.
By understanding people, it’s possible to enhance workspaces, design and implement new processes and build bespoke technology solutions that move organisations closer to the optimal office and ensure they are fit for the future. Fortunately, progress is being made across organisations of every size, industry and sector across the United Kingdom and Ireland. Even though adjustments and further alignment are needed, employees and employers are in agreement that there is positive momentum.
Whilst the Economy of People is an aspirational look at the value that could be realised through a move to the optimal office, it’s an important goal that can set organisations on a powerful growth trajectory that will provide lead to a better future for society and people.
