When many people think about fine art and building a collection, they think about it in a personal or residential setting. In my years of experience in the art community, I have been watching the trend of art in the corporate world expand at a fast pace. It is an exciting time for the art world.
When business owners and corporations are creating spaces for their clients and employees they are looking beyond conference room furniture and wall colors. Studies have been steadily emerging about the importance of incorporating art into the workplace. A study from the Business Committee for the Arts and the International Association for Professional Art Advisors polled more than 800 employees working for 32 companies throughout the U.S. that have workplace art collections. The findings showed that having art in the workplace helps businesses significant areas such as reducing stress (78% agree), increasing creativity (64% agree) and encouraging expression of opinions (77%) agree. Creating a space with fine art provides employees with a work environment conducive to being productive and forward thinking. (full findings can be found HERE)
In fact, when the design of new buildings is coming into play, builders and property management teams are incorporating artwork into their new design plans. Irvine Office Properties, which has major projects across the country, employs an in-house planning and design team with a dedicated group of art consultants to source the pieces they choose for each project. This team also works on acquiring new artwork to improve their portfolio. Irvine Office Properties, like many other big developers, have recognized that attracting tenants means providing spaces that are visually stimulating and sophisticated.
Not only does a work space with fine art affect the quality of the employee's experience but it also attracts clients. The art you display in your space can help define what your company represents. For instance, BNY Mellon has an extensive art collection that includes more than 5,000 works of art. They boast rotating galleries in their offices and take pride in the caliber of art they display. Their extensive photography includes portraits of people from around the globe which they feel celebrates the diversity of their employees and clients. Inviting a client into a work space that includes art work that is meaningful to your business is a message that you have invested thought into your brand and image.
Investing in art for your business is a smart strategy in terms of acquiring a tangible asset. If you work with a knowledge Art Advisor you can acquire art that will appreciate in value. When you buy work from local artists it also is an excellent way to support the local economy and bolster community relationships. Right here in Maine we have artists who are of world-class caliber and investing in a contemporary artist today could garner you the Wyeth of tomorrow!