Why are offices becoming trenches in the War on Talent?
Written by Felix van den Horst | 9th Aug, 2019
Over the last decades, there has been a steady decline in lifetime single company employees. People tend to switch jobs frequently and have different expectations of their employers than before. Simultaneously, the components which evaluate a business have shifted over the last 40 years from tangible assets to intellectual capital. Ocean Tomo has found that during the 1970s, the United States economy was primarily driven by capital investment and manufacturing (83%). Today the U.S. economy is service-driven (84%) which has let to a demand for intellectual capital rather than tangible assets. It’s the employees which largely determine the business valuation, which causes the War on Talent. This raises the question of how we keep the intellectual capital within our firm.
Corporate Social Responsibility and Sustainability have taken an important position within companies; fitting the global trend of well-being and People Planet Profit. This shift also entered the office: CBRE, the world’s largest real estate service firm which is also located in Amsterdam, has discovered that 69% of millennials are willing to trade work benefits in return for better workplaces. This number is backed up by other research of CBRE which states that 75% of job seekers mind that their potential employer is engaged in their well-being, and as a result, 57% continues to stay longer with a company if they do.
In response, a study done by the life insurance company MetLife found that 73% of employers believe it's their responsibility to guarantee that employee health and wellness will grow within the next 3-5 years (2017).
So how can your company keep employee engagement high?
Well, creating pleasant working conditions is a very good start. When it comes to indoor environmental quality (IEQ) there are four domains to keep in mind: 1) Indoor air quality; 2) Thermal comfort; 3) Acoustic comfort; 4) Visual comfort.
One way to analyze and optimize the indoor air quality and thermal comfort through is through a combination of smart sensors. Then -predictive analytics can illustrate future trends in environmental data which suggests how satisfied people will feel under certain climate conditions in the office. For example, indoor air quality is of great importance for maintaining a healthy workplace and focus. It influences the ability to work productively as well as sick leave rates (more on it here).
Next time we’ll go deeper in on the four pillars of indoor environmental quality, starting with discussing visual comfort.
Convinced by statistics and want to know more? We welcome you to schedule a cup of coffee! ;-)