Workplace professionals from all over the world emerged in Denver last month to attend World Workplace 2015. The theme of this year’s conference was focused on a central message “Collaborate to Innovate”. More than 4000 attendees from over 40 countries gathered to share thought leadership and attend immersive learning sessions ranging from Innovation in the Workplace, Wellness, Sustainability, Workplace Strategies, to day to day Facility Management.
Our message at this year convention was based on recent research and metrics focused on Return on Innovation – Maximize Your Largest Investment.
So how can you maximize your largest investment? Imagine these numbers: #1, #3, 11x…
People are the #1 investment for a corporation in both perceived value and actual value, Innovation is the #3 goal for corporations to achieve, and People cost a corporation 11x more than their real estate investment. What if your real estate strategy could maximize your largest investment and help your company be more innovative? For a large work force, this could equate to MILLION$.
Now imagine a workplace focused on your #1 investment – people. Imagine a well-designed environment, with a quality location and meaningful design attributes that allows your company to flourish and attract and retain the best and brightest talent. When comparing quality vs. quantity of space, a strategy focused on the complete work environment could save a company of 1,000 people $22 million per year. A traditional real estate strategy focused on sf/person savings would only save $2M per year. Based on this, investing in the complete workplace environment with a focus on employees has 11x more impact than the traditional real estate strategy and matters to the ROI bottom line.
So what does this mean to you? The value of innovation cannot be ignored. It lives around us at every turn; and interestingly, it can be found more readily in emerging lifestyle cities not just the global gateways such as NYC and San Francisco. More importantly, innovation is the differentiator that will help attract and retain the best and brightest talent in the competitive workforce market while helping them be more productive. It has been found that well designed spaces can effect productivity by as much as 30%. Thinking urban creates an environment of amenities, access, and serendipitous connections that encourages creativity and collaboration. Healthy people and workplaces benefit the bottom line, reduce health care cost, and provide a culture of wellness. Staying connected both physically and digitally fosters real time collaboration while incubating trust and happiness among workers. Tailored workspace facilitates your people, their work process, and the work product while boosting your culture. Innovation matters and the designed environment has a return.