Considering how important a company’s bottom line is, especially in these trying economic times, it makes sense to work tirelessly to identify ways of protecting it. It’s indisputable that high staff turnover or unhappy employees increase costs and decrease productivity, respectively, having a direct and notable impact on profits.
It’s obvious that keeping employees happy is a winning formula and there are naturally many ways of achieving this including competitive salaries and ensuring job/career satisfaction. Then there’s the overall morale of staff which, if low, can be detrimental to productivity. Employees who spend more than half of their awake hours in a drab and boring space will only want and need to spend more time out of the office, not to mention how uninspired they would be to work efficiently even when present. Low productivity equals a slipping bottom line.
The Business Committee for the Arts and the International Association of Professional Art Advisors once took a survey in which 94% of the participants believed art enhanced the work environment, and 64% witnessed increased creativity and productivity. It didn’t stop there though, research by the British Council for Offices suggested that 61% of employees believe artwork inspires them to think and work more creatively while another independent study suggested art in the workplace increased perceived productivity by 14.3%.
The figures don’t lie and while many factors are at play when it comes to productivity and keeping staff happy, it’s indisputable that artwork will pay for itself, probably tenfold, and actually contribute to the bottom line. After all, a fraction of an increase in productivity is cause for a bottom line celebration.