Over 70% of Australian executives say their office space directly impacts productivity: Latest research
By Rebecca Derrington
Australian executives overwhelmingly agree that their office space directly impacts how productive they are in the workplace, according to independent research commissioned by Dexus.
The Think Global research explored what executives from growing small and medium-sized enterprises (SMEs) around Australia are looking for to make their 2018 workspace an inspiring place to work.
The survey confirms that more than 70 per cent of decision makers surveyed believe their workspace directly influences productivity (71%), job satisfaction (74%) and team engagement (71%) - three cornerstones of business success.
But the research also suggests some workspaces need an overhaul before staff performance peaks, with 80 per cent of the responses indicating a need to upgrade/improve their office space to make their workforce more productive.
With productivity so intrinsically linked to where you work, it’s easy to see why astute businesses are ever searching for the perfect workspace design.
And what that looks like has changed significantly over the years. As employees become more mobile, it might be thought there’s less of a need for staff to be physically present in the office.
But you’d be mistaken, with studies indicating that when employees collaborate, they work 15 per cent faster and are 70 per cent more likely to innovate. [Source: Deloitte Access Economics, The Collaborative Economy 2014]
So, whether your people are operating from an office, a café or even flexibly from their home, each workspace clearly has its role to play.
Your people’s expectations of their workspace are also adapting, with a greater need for areas in which to move and work free of the shackles of an assigned desk, or to collaborate with colleagues in project-based spaces.
In other words, your workspace needs to be able to quickly adapt to the individual needs of your people. The one-size-fits-all workspace is clearly a thing of the past.
The survey results also confirm that the workspace is viewed as a more crucial staff retention factor, when compared to the more traditional bonus and progression opportunities, so the critical role it plays in creating a happy and productive workforce is fundamentally clear.
But your responsibilities to your people extend beyond the four walls surrounding them. It also includes their physical and mental health, with over half of the businesses surveyed planning to increase their investment in their people’s health and wellness in recognition of this upward trend.
Our workspace presents us with growth opportunities that arise from the understanding that ‘where’ you work directly impacts on ‘how’ you work. An inspiring place to work is one that’s flexible enough to accommodate individual preferences, alongside those of the team.
As such, Dexus is investing in products and services to enhance business productivity, including initiatives like Dexus Place and Childspace.
The Think Global Research Workplace Report can be downloaded here.
Dexus commissioned Think Global Research to conduct an online survey of 300 Australian business executives in growing SMEs who are responsible for, or influence decisions when choosing an office space.