Building Engines Prism recently found that 96% of property teams are looking to maintain or expand their spending on workplace experience software, which signals “workplace decision-makers will continue to acquire new workplace experience technology throughout the coming year, even as economic uncertainty looms,” according to workplace software maker HqO.
“Corporate real estate leaders are continuing to spend on workplace experience technology in 2023 because they understand that an improved workplace experience brings tangible business results,” the report states. “By improving employee satisfaction, employers save on turnover costs and increase productivity.”
An improved workplace experience also builds stronger workplace connections, “which is exactly what employees want and need in 2023,” the report posits.
“As the public health picture changes, employees are eager to reconnect, and the data shows us that they increasingly see the workplace as a place that can enable stronger, more meaningful workplace connections with peers and colleagues,” states the report.
A recent study from MIT, for example, found that increased network connectivity leads to stronger, more fruitful collaboration among colleagues. A better workplace experience may also lead to greater profitability and higher productivity, according to aggregate data.
With hybrid working the new normal, physical workspaces remain critical to the overall environment and morale of employees. According to HqO, a salient takeaway is “office space isn’t necessarily being used less—it’s just being used differently.”
A large increase in the importance of informal social interaction suggests that employees now see the workplace not just as a space for doing individually-focused work, but also a space for building more meaningful workplace connections.
“Today’s employees clearly want to feel connected to their colleagues, their companies, and their workplace environments,” the report reads.
“Workplace culture is the backbone of any organization,” Michael Dingle, chief operating officer of TELUS Health, said last year. “It is critical for businesses to do more than simply say they have a positive working environment.”
Research cited in HqO’s report predicts the office will become a more collaborative place and “with greater emphasis placed on connectivity and interpersonal interaction.” 85% of employees are motivated to come back to the office by the promise of socializing with colleagues and rebuilding team bonds.
Crucially, the digital counterpart must also be a positive experience that remains consistent with that of the office.
“As the pivot toward hybrid work continues to accelerate, [commercial real estate] companies, property teams, and employers all need to optimize their workplaces for hybrid employees,” affirms the report. This includes expanded access to electronic work equipment as well as practical tools and hardware “that remove friction from employees’ days.”
The world and the workplace have changed dramatically over the last few years, the report notes. We must all take proportionate action to keep pace with the times in order to compete.
Workplace assessment platform Leesman found that 31% of today’s employees do not think that their working environment contributes to a sense of community within their company. That’s a sizeable portion. Hybrid work does not render the goal easier; but with a distributed team, it becomes only more necessary. Ongoing economic turbulence builds on both the challenge and the necessity of the task at hand.
To weather uncertainty, build a better workplace experience.