Global Innovator’s cosponsor Hans Gant of the Metro Atlanta Chamber of Commerce (center) is joined by Capital One’s presentation team (from left): David Guin, Larry Ebert, Joel Ratekin, and Bryan Berthold.

A recent encounter outside of CoreNet Global with Fast Company magazine cofounder Bill Taylor and a panel of executives from Procter & Gamble, ING and Cirque du Soleil affirms the CoreNet Global focus on innovation as a competitive business advantage. "Winning organizations don't just offer competitive products," Taylor says. "They stand for big ideas meant to reshape their industry - to reshape the future of what is possible for its customers, employees and other stakeholders."

Capital One's "Future of Work" (FOW) embodies such a "big idea" in part because senior management did not mandate a makeover of its workplace culture and configuration. The bank's CRE and HR teams, however, work together and know what was "in their wallet" when it comes to instilling the benefits of change management and cost control. Those benefits have elicited the support of the C-Suite and the 2,000 employees who will be involved in FOW by 2007.

For now, the integrated workplace initiative is centered on the bank's Richmond campus. The appreciable economies of space utilization were one of the catalysts. Capital One saw that up to 60% of its assigned space there was vacant each day. But the program also addresses the need to create what Taylor of Fast Company terms as a "distinctly disruptive force" in order to engender innovation. In this case the force was to bring more workplace flexibility and higher productivity levels to the otherwise staid credit card industry-leader status of Capital One.

"It revolutionizes the way that Capital One convenes the workforce," Managing VP Larry Ebert told the GIA panel of judges.

Revolution may seem a bit strong a term with today's proliferation of open offices and team space environments in tandem with remote and mobile work. After all, a lot of companies have blown up cubicles and traditional fixed floor plans in favor of collaborative and distributed work.

But considering the Alfred P. Sloan Award for Business Effectiveness and Workplace Flexibility that the bank won for FOW, and the fact other major companies like Microsoft are asking Capital One to share its results, it may not be an over-statement. Metrics show it, starting with a 27% increase in business growth this year coupled with a $50-million reduction in the bank's $200-million workplace run rate.

Ebert describes FOW as "an information-based strategic business model" that "taps the work styles of individuals," adding that "the people we hire are our competitive advantage."

How have employees reacted since the new model introduced them to a variety of new, flexible and on-demand work environments including home offices but extending to novelties like "Executive Digs" and "The Treehouse?" Nearly nine in 10 workers in Richmond would "never go back," reports Bryan Berthold, VP of HR.

"I find it energizing," one employee reacted. Other bank associates are saying positive things like, "It's something new and different," or that "I'm approaching my job in a whole other way."

The impact on productivity - and the implied growth of profit margin - is growing substantially. "I love FOW," another employee offered. "The ability to work anywhere, any time with top-notch technology is liberating."

Ebert points out that FOW is an ideal example of the CoRE 2010 concept behind IRIS (Intregrated Resource Infrastructure Solutions) alternative workplace strategies combining IT and HR closely within CRE and workplace management.

One of the keys is that Capital One business units are now driving FOW, Ebert notes. Berthold explains that 'preselling' the 600+ employees targeted for the large pilot launch of FOW helped Capital One affect business unit participation and the actual shaping of FOW.

FOW is about change management as much as it's about integration of strategic support functions and enhanced productivity. "We couldn't just manufacture this environment," Berthold remarks. Success hinged on "how to involve them (associates) in these changes."

Administrative staff were brought into the program early on as important advocates to their bosses. Special training on working remotely and using mobile technologies was introduced. The company pays for broadband in associates' home offices. These and other modes of "buy in" helped generate a substantial positive response to FOW.

Capital One Director Joel Ratekin shared many of the key metrics that are helping the bank achieve the key objectives of driving business performance, improving economies within the firm, supporting individual work, support group work and "delighting associates."

• 66% of FOW workers say it's improved their view of Capital One
• 87% would not go back to their old workplace if given a choice
• More than 80% are satisfied with the workplace compared to 57% before
• 53% increase in those who say FOW enhances group output
• 31% decrease in time needed to get input from peers; 24% reduction in time to get input from managers
• 63% agree the atmosphere is creative vs. 39% before
• Up to 50% reduction in real estate costs to the business

"We've broken down the walls," concludes Ratekin of the bank's newly scaleable Richmond infrastructure. The walls of cubicles . . . and convention.