7.01 The New Economy, Change & the Workplace
Venue: Sheraton Wall Centre
Room: Junior Ballroom CD

Businesses today must find innovative ways to sustain themselves. It’s not easy: 9 out of 10 businesses fail in the first 3 years; the Gallup Organization has shown that 70% of the workforce is disengaged; the tenure of companies on the S&P 500 List is rapidly decreasing and CEO’s today have an average lifespan of only 4 years. We are seeing an increasing amount of change and many of businesses are becoming commoditized. How do organizations increase engagement and provide ongoing value to their customers in this economic environment? Rapid and disruptive change is an increasing threat to any business, and the challenge is for companies to be innovating new ways to bring value to their customers. Organizations must utilize their space to adapt to these changes through understanding how space and people interact. Office space is one of the best tools that leadership can use to encourage people to connect, interact, communicate and collaborate in order to iterate, refine and leverage new ideas. We are in period of massive change, where the old economy, culture and traditions inhibit the way that we need to think about space and exchange information. The life span of the S&P 500 companies is a startling wake up call. Our workspaces are still caught in old traditions and only just beginning to adapt. Change is necessary to just to catch up. But for many, resistance to change holds us back when today, the greatest risk is doing nothing. New office design must recognize how the workplace sets the context for changing the culture of the organization. It provides a rare glimpse into how organizations can successfully navigate through the challenges of business and resist becoming a commodity. Your office space is the best tool that your organization can use to improve the engagement of your people and improve performance.

Track/Topic Area:
Council/Community/Industry Specific - Workplace Evolutionaries
Learning Objectives
Understand a historical review of the workplace and performance of the S&P 500 Companies
How the Economy has changed and the connection to the workplace
How to reduce the risk associate with disruptive change and sustain business into the future through the workplace.
Level of Learning
300 level
Bob Fox