What will happen to your business if you don’t take well-being seriously?
A new report has looked at the impact that focusing on employee well-being has on a business.
The study by Cushman & Wakefield found that businesses which focus on wellbeing will reap their rewards commercially while those that don’t face diminishing returns.
The Well Workplace report maps out the major trends, opportunities and challenges of the future facing owners and occupiers of commercial office space due to the growing emphasis on employee health and vitality as part of the work environment.
Improved lighting, layout and use of plants are all known to benefit wellbeing and can increase employee performance. Gains through boosting performance far outweigh potential cost savings through real estate efficiencies.
Equally, for landlords there is commercial advantage and price premium for assets which incorporate wellbeing. A survey from the Urban Land Institute revealed two thirds of built environment professionals agree wellbeing features in a property can directly impact market success and economic value.
Additionally, more than a quarter of landlords believe they can charge a premium rent as a result of wellbeing, according to a study by Dodge Data & Analytics. The same data shows that nearly half of respondents said spaces leased more quickly.
Report author Sophy Moffat, from Cushman & Wakefield’s EMEA Research & Insight team, said: “The rise of wellbeing in the commercial real estate industry is not a fad but a long-overdue acceptance that people are the largest cost and biggest contributor to the success of companies. The call to action for the real estate industry, and broader built environment, is loud and clear: the design and building of workplaces must change to meet a flexible future.
“Evidence points to the return on investment available to investors and tenants from differentiation, value creation and risk management. We must now encourage the concept of a broader perspective focused on the total value of the investment and where a workplace culture of work-health balance is the norm.”