Survey reveals that 58% of companies increased their workplace investments
Learn how workplace budgets have changed, including where companies invested and where workplace leaders want to invest in the future.
They say you’re only as good as the tools you use. When it comes to workplace leaders, that may be true. After all, you have a long list of tasks to execute each day. To be successful, you need resources to help you scale your workplace efforts.
Unfortunately, there isn’t a ton of data out there on what resources workplace teams use to be successful. To change that, we explored Envoy’s proprietary platform data and surveyed 400 workplace leaders on their company’s workplace investments. Keep reading to learn how workplace budgets have changed since the pandemic started, what resources companies have invested in, and where workplace leaders feel their companies should invest moving forward.
How have workplace budgets changed?
When the pandemic hit, many workplaces either shut down or were open at limited capacity. This not only impacted the role of workplace teams but also workplace investments. But in 2021, many companies reopened and welcomed more folks back on-site.
58% of survey respondents said their organizations invested more in the workplace in 2021 compared to 2020. Only 19% reported a decrease in investment, while 23% said there was no change.
As more folks returned, organizations prioritized new tools and resources to keep employees safe, productive, and engaged on-site. Companies that embraced a hybrid work model also wanted to ensure they had the structures in place to support it.
What did organizations invest in?
We also wanted to understand where organizations spent their money in 2021. When we asked what workplace resources their organizations invested in, 40% reported conferencing technology. This includes monitors, cameras, and microphones. These technologies are critical to enabling flexible work models.
More than a quarter of respondents (30%) said visitor management solutions. This technology enabled them to manage the increase in people coming on-site and increased need for safety. 25% said they invested in physical security technologies, such as access control and video surveillance.
Of the folks who said their organizations invested less, 28% said they cut spending on on-site events. 25% said they spent less on food and beverages. These may be organizations that either hadn’t returned to full capacity or adopted hybrid work models with fewer people on-site on any given day.
Looking ahead: What do workplace teams want to invest in?
Finally, we wanted to know where workplace leaders believed their companies should invest in the workplace moving forward. 35% said on-site events and programs. 24% said in-office food and beverages. The numbers were even higher for folks in workplace manager roles: 43% and 26% for those investments, respectively. That’s probably because these are the folks most likely to be responsible for the workplace experience and employee happiness on-site.
Also notable, 23% of workplace leaders see a need for spending more on conferencing technology. 28% cite remote collaboration tools as an important investment. Workplace teams understand that flexible work is here to stay. To create a great workplace experience for employees, organizations need to invest in technologies that make hybrid collaboration seamless.
No matter how great you are at your job, workplace tools and technology can enable—and amplify—your success. Now that folks are back on-site, companies are increasing their workplace investments and they need your guidance on where to spend.
What technologies is your company lacking? Think about what you need to make a bigger impact on your company and meet your workplace goals. (Tip: download this workplace technology roadmap to plan out your needs.) Don’t forget to consider what will help get folks excited about working on-site. Finally, build a case for what you need to run the workplace smoothly. Need to reference any of the data above? Point your team to the At Work: the 2022 workplace trends report.
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