The Benefits of Building a Corporate Art Collection

You’ve built your business to the success it is today. You’ve thought about everything — every small detail — to grow that business and realize profits. 

Is art collecting part of your business plan? Probably not, but perhaps it should be.

Why? Because, art creates a visual identity for an organization and it has the power to positively impact a company's reputation. Art is also highly beneficial to your greatest asset: your people.   

This article examines the benefits of art in the workplace and outlines how you can start building a corporate art collection. 

Benefits of Art in the Workplace

Creating Visual Brand Identity 

Art in the workplace stretches far beyond wall décor. How a space is curated conveys a visual identity and reinforces a company's brand. Artwork is a visual language and a powerful storyteller. A corporate art collection can be utilized to non-verbally convey topics of interest and narratives about your company's history, mission, and aspirations.  

For example, if your company is committed to sustainability and environmentalism, your art collection might include images of nature that reflect these ideals. Perhaps you could purchase  artwork created with recycled or reclaimed materials. If you’re in the technology business, you might consider artwork that is non-representational, avant-garde, or sleek and modern in appearance. Perhaps even look for artwork which incorporates pieces of used technology such as motherboards or CPUs.

A well-curated corporate art collection can shape external perception. The impression that  artwork leaves on your visitors and clients may even extend beyond what a product or service can convey. Art can be utilized as a client engagement tool that breaks the ice in a meeting. An art collection also serves as a reminder that your organization is committed to cultural experiences and is a supporter of the arts. This visual identity shapes your organization's reputation and differentiates you from your competition.  

Shaping a Workspace

Gone are the days when everyone was required to work in a stale and dreary office space  illuminated by fluorescent lights and lined with sterile cubicles. How and where we work is evolving. Some employees have the ability to accomplish their jobs from the comfort of their own homes, from trendy, well-designed co-working spaces, or from any other locale they desire. Employers need to compete with these options. They must create attractive spaces where employees want to be rather than have to be. Adding compelling art to your office environment has the power to attract and engage employees, humanize a space, and encourage office utilization. 

Benefiting Your Employees

Studies show that art in the workplace has significant benefits for employees. According to an article published by the Harvard Graduate School of Education, “art promotes social interactions, elicits emotional responses, facilitates personal connection making, generally enhances the workplace environment, and fosters learning.” 

Not convinced yet? Consider the following benefits to your employees: 

Social Interaction
Art builds community when it is a shared experience. It sparks conversation  and promotes shared creative energy within an environment. It also defines a gathering space for social interaction.  

Pride
Imagine going to work in a space that you are proud to be a part of, a creative space, a space which invigorates you and your employees. Art demonstrates to your employees that you’ve put care into the environment you manage, you’ve considered the impact the space will have on your staff and you truly want to inspire your employees through their workspace.   

Stress Reduction
Studies have shown that art can aid relaxation and reduce stress. Art is contemplative and offers a reprieve from screens. Simply taking a break and shifting focus to art can change one's frame of thinking. Certain forms of art (e.g. beautiful images of nature) have proven to have a calming effect. Art has the potential to improve the overall mood of your employees thereby increasing energy and productivity. 

Problem Solving
Art in the workplace provides employees the opportunity to think creatively and even inspire new thoughts. Pondering a work of art offers a viewer the opportunity to see differently. Viewing an artwork begs one to question what inspired an artist to create the artwork or what the piece is trying to represent. This line of thinking shapes new connections and encourages problem-solving which is invaluable within a team environment. 

Intellectual Engagement
A corporate art collection can be used as an educational tool. Unique learning experiences may result from art collection tours, workshops, and featured artist talks. These educational opportunities may spark intellectual curiosity and even create experiences that help your employees connect. 

Investment Opportunity 

Let's not forget that fine art collecting is a form of investment that has strong potential to appreciate over time. Many corporations build art collections as a means of financial gain.  Collecting art is a great way to diversify assets. While the art market is somewhat unpredictable, art collecting can be financially beneficial if managed properly.  

How to Build a Corporate Art Collection 

We have established the importance of art in the workplace and its benefits. So how do you start building a collection? Here’s where to begin:

• Create a budget: What amount of money is your company willing to invest in art? Art costs money. Pick a number and stick to it. Remember, artists — just like anyone else — do not want to give away their art “for exposure.”
• Examine your taste: Be very selective in the art you purchase. It should represent your brand. Spend time exploring different styles and mediums. Consider what type of art would work best within the space. Will the artwork be a site-specific installation piece? 
• Ask for help: Hire an art consultant or curator to assist you in this process. Their expertise will point you in the right direction as you build your collection. Professionals are tasked with selecting profitable acquisitions while working within a budget. Art consultants assist with all the details of art collecting, as well. For example, they will arrange the transport and installation of the  artworks.  
• Keep records: Hold onto invoices and any documentation about a work of art that you acquire. Establish a cataloging system for your collection. It may seem unimportant when a collection is small, but as it grows these records will establish an organized system and will be necessary for any resale of an artwork. 

Art Collecting On A Small Budget 

Collecting art can begin at any level. Starting small may be your only option. Perhaps the  company can encourage its employees to get creative and offer to install employee artwork.  Maybe you have a local art school or university nearby that would like to partner and display student artwork. There are ways to get creative when incorporating art into your business.  

There are numerous organizations that work to connect businesses with artists. Americans for the Arts is an incredible resource. The Private Sector Network of Americans for the Arts is comprised of local arts organizations, creative businesses, and local  government leaders that work together to foster arts and non-arts business partnerships and engage business leaders as arts advocates in their local communities.  

Consider reaching out to local arts organizations, as well. Are there arts councils or art guilds in your community? Ask how they can help to connect your business with local artists. A collaboration with local artists is a great way to commission artwork and realize the vision for a space.  

Art Collecting Through A Loan Program 

If you do not have a budget but still want to incorporate art into your business, consider a loan  program. A loan program brings art into your space for a temporary period of time and may support the professional goals of local artists. You could consider using social media or local outlets to put out a "call to artists" asking for participation. 

When displaying art on loan, make sure to develop an agreement outlining the terms of the loan. Here are some topics to address in an art loan agreement:

• Length of the loan period (How long will you keep the art on display?)
• Installation/de-installation process (Here’s a tip: Incorporate signage/QR codes that offer information about the artist and their work.)
• Insurance (What happens if the artwork is damaged?)
• Sales transactions (Will the artwork be offered for sale? How will the sale be processed?  Will your business earn a commission on a sale?) 

Final Thoughts

A corporate art collection offers numerous benefits to both your company and your employees. Corporate art expresses a visual identity that serves as a tool for branding. It enhances the workplace and fosters a creative environment. Moreover, art stimulates innovative thinking and increases employee productivity. As the workplace continues to evolve, art will have an increasingly important role in transforming the way we work.