Beyond Brexit: Investing in a workplace for younger generations
With the post-Brexit era creeping closer, many businesses are re-evaluating how to keep their staff happy and productive in a positive working environment. Although there is still a fair bit of uncertainty around how exactly Brexit will impact UK businesses, the overwhelming consensus is that staff who continue to see a clear investment in their workplaces will maintain more trust in their companies and feel greater job security.
Last month, we asked over 600 people across the UK how Brexit was impacting their working lives and their office environments. The survey suggested employers who value attracting and retaining top young talent should be cautious of ‘Brexit budgeting’ as investments in the workplace are extremely important for younger employees.
Some highlights from the survey include:
- Brexit impact: Millennials and Gen X had the least positive outlook of working life post-Brexit, with 28% stating that Brexit has had a negative impact on their company
- Job security: A third (34%) of British workers surveyed were concerned about job security – particularly Millennials (35%) and Gen X (38%)
- Staff retention: A third of workers would consider changing jobs if their company decreased its investment in the workplace
- Loyalty: Companies that are planning to invest and improve the workplace would have more loyal employees – over half (53%) would be more loyal, which was particularly true of Millennials (66%), Gen Z (55%) and Gen X (50%)
- Workplace consultation: While over a third (38%) of workers said their company had never consulted them about the office or analysed how people use the workplace, a similar number (38%) stated that their company had.
A smart investment in office interiors
While it’s important to be fiscally responsible during a period of uncertainty, staff want to continue to see investments made in the workplace to establish a stronger sense of trust and security.
Based on our expertise as workplace consultants, we suggest that businesses take the following budget-friendly steps to continue to make positive changes that will result in an engaged and motivated workforce.
- Conduct a workplace evaluation – If your company is one of 38% that hasn’t consulted its workers about the office, even a short audit or observation study will help you see how well your office environment is working. This ensures you’re not wasting money on things that your staff doesn’t want and uncovers ways you can use your space efficiently. Make sure you consult all generations so everyone is considered.
- Retain company perks – Wherever possible, keep your employee perks. Nothing will agitate your staff more than cutting their cycle-to-work scheme or cancelling their free office fruit. Maintaining your investment in company perks makes your staff feel important and reminds them that their wellbeing is a priority. Removing your coffee machine can save a few hundred pounds a year, but just think about how much more you can save if you discover an underutilised space you can release instead.
- Refurbish your office – If your business is expanding and you’re not sure you can afford a full relocation, don’t abandon all plans to improve the office – instead, analyse how you can better use your space and introduce new smart working features that can accommodate more employees and boost morale and productivity.
Our CEO Jitesh Patel says; “It’s important to remember that British employers need to ensure that their Brexit budgeting isn’t interpreted as a lack of confidence in their company, and that they are sending out the right, positive messages to their employees. Retention of top young talent is critical for organisational success and one of the most important issues for businesses today.”
Want to know more about how you can revitalise your current office space and keep your staff happy? Get in touch. We’d be happy to help.