Is Your Office Losing You Top Talent?

Is Your Office Losing You Top Talent?

Why do people leave a business? It’s an old question that’s asked time and again. The problem of losing good people has blighted many businesses over the years and it’s widely accepted that the biggest single cost for all businesses is its people. So why is it that your best people just decide to leave?

According to a recent article by Business Zone one of the biggest reasons people leave are feelings about their working environment. This reason has a broad number of factors that include not only company culture but the quality of office space people are asked to work in.

The connection between good office design and productivity has long been a topic of conversation. The move away from bland “factory” style offices has reached new heights in the last few years with interior designers working to improve the look of office space to make them better places to come to work in. Providers like WeWork, Landmark, BE Offices and LEO amongst others have all used the services of leading interior designers like Oktra great effect. And the occupancy figures of these locations speak for themselves.

Large corporates like Microsoft, Google, Facebook and Yahoo have been strong advocates for the move towards well positioned office space that’s close to good transport links and designed innovatively to help motivate their teams with modern, fun and well thought through office design. For many these famous businesses have led the way with funky interiors that have included slides, snooker tables and slot machines, balanced with inspiring places to eat and grab a coffee.

Why Work-Life Balance is important to Office Workers

Dr Travis Bradberry published a recent article on Linkedin were he explained that people are more likely to place their work-life balance higher than financial remuneration and seek out businesses that are in an accessible location, offer flexible working hours and foster a participative culture.

And if that wasn’t enough proof, an extensive poll by Accenture came up with similar findings with more than 75% of those surveyed saying having good tech in their office space allowed them to have a more flexible work schedule and 80% said having a good work-life balance was more important than financial rewards.

Nellie Borrero, managing director of global inclusion and diversity at Accenture commented, “The fact that finding the right approach to integrating career and life demands continues to be critically important to employees is significant for employers. Companies that can help their employees navigate both their professional and personal lives are likely to see strong employee engagement and enjoy an advantage as they recruit and retain high performers.”

Many serviced office and flexible workspace providers have started to embrace the importance of the many factors that provide the perfect place to work. One of the first considerations for any workspace provider is location (read our article “Office Location, Office Location, Office Location”) and as its one of the most important considerations for business owners it’s no surprise that it’s just as important for employees who do not want time consuming long journeys to work.

With the many factors contributing to staff turnover it’s easy to lose sight of the things you can change. If we concentrate on the physical elements, companies can easily start to reduce the number of people who leave the business:

The Well-Being Checklist:

  1. Location – Easily the most important factor that allows you to be close to your clients and just as important for your employees to have a number of transport links and not too far to walk.
  2. Office Design – We already know that innovative design can add a real spark of creativity to teams and help to increase productivity.
  3. Amenities – Having an office with great breakout facilities and a place to eat lunch are important to employees. Who wants to sit outside in December to eat lunch?
  4. Beverage Kitchen – The importance of a good cup of coffee shouldn’t be underestimated. Businesses that provide access to free tea and coffee facilities help to save time and help bolster productivity, team interaction and the general office feel-good factor.

If your office space ticks all the boxes on our checklist, you can be sure your team shouldn’t be leaving any time soon. It’s important to remember that Accenture mentioned that company culture also goes a long way to reducing staff turnover.

In 2016 financial benefits are no longer at the top of employee’s job and career priority lists. When combined with the main factors we’ve mentioned, a positive and empowered workforce helps reduce the headcount turnover and can go a long way to improve productivity.

Sources: Dr Travis Bradberry via Linkedin, Accenture survey 2013

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