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.
Read the full report.
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:
+1 (646) 503 3052
+65 6850 0110
+44 (0)203 910 8054
Reinventing for growth in a changing media landscape
Oxford Economics partnered with Accenture to survey 6,000 consumers around the world about their media and entertainment habits, experiences, and preferences.Find Out More
PepsiCo’s Racial Equality Journey: An Analysis of its Economic Impacts
Oxford Economics was commissioned by PepsiCo to quantify the socioeconomic gains of their Racial Equality Journey initiative and conduct a survey of 500 US-based executives about their corporate diversity goals and plans.Find Out More
Data Center Impacts
Oxford Economics specializes in characterizing the impacts of data centers.Find Out More