When it comes to residential design, it’s perfectly fine — and in fact, usually preferred — for decisions to generate qualitative benefits and outcomes. For example, adding a bay window can make a living room brighter and more welcoming, while installing decorative wall coverings can make a den (or man cave) cozier.
However, when the scene shifts to the workplace, executives typically need to justify or authorize office decisions based on their quantitative connection to ROI. To that end, here are 5 ways that modern office design impacts the bottom-line:
1. Greater Productivity
Modern office design enables businesses to co-locate cross-functional employees (e.g. sales and marketing, finance and procurement, HR and operations, etc.), and establish traffic flows that support rather than impede productivity. Advises Harvard Business Review: “The design and outfitting of workspace is a capital investment for any organization that can affect a number of business outcomes, including productivity.”
2. Increased Engagement
Modern office design boosts employee engagement, which Gallup has found to increase individual employee performance and corporate earnings per share, while it reduces employee absenteeism and benefits utilization.
3. Improved Retention
Modern office design does more than engage current employees — it also keeps them on the roster. As noted by Bloomberg BNA: “Employee retention strategies often focus on the corporate culture of a company, but the physical space an employer provides also plays a role in determining whether employees stay or go.”
4. Improved Recruiting
Recruiting is costly and risky; especially in labor markets where the war for top talent can be more relentless than the battle for customers and market share. U.S. News and World Report points out that “a modern workplace can attract the next generation of employees,” and that “creating an ideal physical space for your team…can aid in hiring new employees.”
5. Enhanced Image
Even if businesses conduct most or all of their customer interactions over the phone, web or off-site, modern office design enhances image when photos and videos are uploaded to the corporate website and shared on social media, and press releases and other pieces of marketing collateral are published. For example, this press release announced the completion of an innovative office design renovation by a NASDAQ-listed financial firm.
Naturally, modern office design improves esthetics and enables qualitative outcomes — which are certainly important. However, it also delivers quantitative ROI when it drives productivity, engagement, retention, recruitment and image.
To learn more, contact the Key Interiors team today. We will help you optimize your environment so that, in addition to being stylish and sophisticated, it does what matters most: improves the bottom-line!
For information on how you can renovate your office while staying on schedule and on budget, download our FREE eBook: