Colorado Real Estate Journal - November 19, 2014
Today, most companies are trying to deal with two big issues in the workplace, 1) the change in technology and 2) how it relates to attracting and retaining the best human capital. As a 25-plus-year veteran in the workplace industry, I have found addressing these ever-growing concerns with my clients to be important because they are synonymous. If a company is unable to adapt to changing technology they won’t be able to recruit the best talent in the future: the life blood of most organizations. Obviously, the war for talent (finding and retaining top talent) has been around for over 20 years and never has it been more prevalent than today. In the past, demographics played a big role in the rise and fall of the labor force. From 1960 to 2000, labor surged from 59 percent to a peak of 67.3 percent largely due to more women entering the labor market, but also improvements in health and the fact that the types of jobs available allowed Americans to work more years. However, since 2000, the labor force rate has steadily been declining as the baby boom generation began retiring with fewer eligible workers available to replace them. In fact, it is estimated that the labor force participation will be even lower in 2020 regardless of how well the economy is performing. With this decrease in potential labor force, companies recognize the importance of understanding what drives their workforce and the need to strategically build a better workplace culture that not only will inspire their current staff but also attract future top talented employees. Additionally, companies are integrating the individual needs of a multigenerational workforce as a means of their own survival. In fact, it won’t be long before the next generation of workers (currently in junior high), adept in all things technological from smart phones to social media, will be in the workforce mix. Attracting a talented workforce and building a better workplace culture boils down to the workspace and the life-work balance offered by an employer. Workspace. How does our physical workspace need to function to accommodate not only technology but also attract and retain the best human capital? Today’s top talent has no interest in working in stagnate work environments. They long to feel valued and thrive in collaborative environments with a balance of teaming, learning, private space and mobility. They tend to be workers with intense ambition, and employers must take note that they are always on the lookout for greener pastures. Pleasing top talent with workspaces that provide openness, yet are acoustically tuned and ergonomically inviting will be the norm versus the exception. Incidentally, companies may be hiring and retain teams not just individuals. These groups of individuals are used to working together. They know each other’s strengths and can focus jointly on a particular project, increase productivity while reducing downtime, and share knowledge instantly and in virtual fashions. Teams such as these will need to be supported by collaborative work environments that are not tied to a past technology, but flexible and adaptable to advancing operations and processes. Employers are keenly aware that to modify the workspace to accommodate new technology or products places high demands on the quality of the furniture supporting these changes. Companies will find a flexible kit of parts crucial to the adaptation of these workspace changes with focus assuredly on productivity, which also includes ergonomics, selfspace adjusted work areas, and personal boundary acoustics. Life-Work Balance. To further the “win for talent,” companies may need to address how they shape a positive work-life balance as a means of attracting and retaining the best talent. Future workers will gravitate to companies that allow a sense of control over visual access, social media forms of communication, and knowledge. Many will look even closer at “best places to work” as a factor in their decision to secure a future job with an employer. With employees working “on the job” even when they are not “in the office,” employers providing mobile flexibility will encourage productivity, while aiding individual life responsibilities outside of work. Reducing stress through environmental measures can also be a key objective assimilated into the workspace. Some studies suggest that an employee’s memory and learning are directly related to the context of their physical space. Thus blending areas in the works space that relieve tension may also encourage a more stress-free atmosphere and stronger life-balance support (e.g., fitness room, lounge or other casual meeting areas, entertainment/ recreation room, etc.). One thing is for certain, in the future the physical workspace, how it is designed, its ease of configurability, adaptability to change, and its support of advancing technology will play a crucial role in attracting and retaining top talent. Essentially, companies will have to consider the human factor when moving forward and creating a working environment that reinforces these values. The end result is that instead of working for you, these top talent individuals will be working with you: building enormous buy-in and a better workplace culture.