Ungated Post | 30 May 2018
The Economy of People
The UK and Ireland in 2018 are facing a critical productivity challenge. To unlock our full potential we need to develop a deep understanding of people and their ability to drive the economy through the way they work. Converting this understanding into optimal workplaces could boost GDP by £39.8Bn.
The research, carried out by Oxford Economics and written up by Ricoh, outlines the path towards building the optimal workplace. It explores the current effectiveness of workplace strategies and opportunities to create greater alignment between employee needs and executive decision-making. We found that emotional factors, namely culture, drive employee performance and are a catalyst for creative thinking. On the other end of the spectrum, technology proved to be critical to ensuring high output-per-hour, or productivity. The physical, which translates to the workspace and office setting, is the bridge between performance and productivity, thereby influencing both.
By understanding performance, productivity and the link between the two, we were able to forecast a potential 1.8% and 1.0% increase in UK and Ireland GDP, respectively. Together, these numbers translate to a €39.8 billion increase in GDP that the United Kingdom and Ireland could potentially realise through optimal workplaces.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
Americas
Diantha Redd
+1 (646) 503 3052
Email
Asia Pacific
Peter Suomi
+65 6850 0110
Email
EMEA
Aoife Pearson
+44 (0)203 910 8054
Email
Related Services
Post
Socioeconomic Impact of DP World in Senegal
Oxford Economics Africa conducted a socioeconomic impact assessment of DP World Dakar covering 2022–2024. We assessed DP World’s operations in Senegal, quantifying its economic footprint, the activity supported through trade facilitation and evaluating social and environmental outcomes, while mapping how value is created for key stakeholders: employees, customers, suppliers, partners, and communities.
Find Out More
Post
From Farm to Table: The Philippine Agri-Food Economy in 2025 and the Road to Competitiveness
This report assesses the Philippines’ agri-food system, from agricultural production and food and beverage (F&B) manufacturing, to the wholesale, retail, and hospitality distribution networks that bring F&B to market. We quantify the economic contribution of the local agri-food sector, document the challenges faced by Philippine agri-businesses due to the tightening operating environment and shifting trade patterns, and outline a practical path to navigate these headwinds.
Find Out More
Post
Economic benefits quantum computing can bring to Sussex and Greater Brighton
This report focuses on the quantum computing sector in Sussex and Greater Brighton, and its potential contribution to the South East and wider UK economy.
Find Out More
