May 9, 2018
Optimal workplace productivity gains could add £39.8 billion to British and Irish economies
The United Kingdom could reshape its economic future and unlock its share of £39.8 billion in untapped GDP if organisations were to ‘optimise their workplaces’, according to a new study by Ricoh and Oxford Economics, titled The Economy of People (registration required). The UK could achieve a 1.8 percent increase in GDP, equal to £36.8 billion, which could pay for the cost of Brexit twice with change to spare. Similarly, the Irish economy could expand by 1.0 percent, or £3 billion, if businesses commit to creating the optimal office. The findings from The Economy of People are based on forecasts of how productivity in various industries will improve, if investment in workplaces makes them optimal for those that work there and their employers. Surveys and interviews were conducted with employees and executives to uncover how workplace elements, such as culture, physical workspace and technology affect performance and productivity.
UK office workers are under a tremendous amount of stress, and much of it is directly related to the way their work is being managed. That is the conclusion of a report by Workfront, which finds that office workers are becoming frustrated and burned out by poor work tools, processes, and communication. Four out of five office workers confessed that they feel burnt out and 73 percent expect their stress levels at work to increase in the near future. Nearly three quarters (74 percent) admit to feeling unrecognised and un-useful at work. With lack of communication and not knowing what others are working on (37 percent) cited as the number-one pain point across the board for stressed UK workers, it’s clear that businesses need to break down current silos, allowing people to engage more freely with senior staff members and see how their efforts impact the wider team. The study found that poor communication and visibility into work is UK workers’ number-one pain point in terms of work stress. It also reveals that 42 percent of office workers put in more than 6 hours of overtime per week and that 7 out of 10 office workers expect their stress levels at work to increase into the future.
