This doesn't directly answer your question, but I will say that if you are in an organization where "formal attire" is (re)introduced as a means to "improve the professionalism of the organization", it is time to start looking for another job.
1) It doesn't solve anything. (Despite some anecdotal or loose correlation between being "dressed up" and feeling "more professional".)
2) The type of people who promulgate such policies tend to think "they know what's right" and to be very much about control (in a top-down sense). One way or another, it's about manipulation (in some cases, even expecting to reduce headcount through resulting attrition). It is also, as often as not, "putting lipstick on the pig" before selling the organization in one fashion or another.
Just one jaded employee's perspective. But, you have been warned.
P.S. I'll add that I understand, even if I personally dislike, the role and effect of attire in some specific roles. What I'm talking about is a blanket policy that does not take employee roles into account at all.
From the male perspective:
If you're a back office person with no customer interface, or perhaps worse, a techie who has to go crawling around the floor after cables and such, being uncomfortable in and having to prematurely wear out an expensive suit is not very considerate treatment.
I'm suddenly reminded, too, of working around moving parts and having to wear a ready-made noose around my neck (neck tie). Throwing the tie over your shoulder is not very safe, and tucking it into your shirt is awkward and uncomfortable and can quickly soil the tie. A tie clip can help somewhat, but it still leaves bits out front that might get snagged if you lean in too close.
P.P.S. Ok, you hit one of my "buttons" and I perhaps too quickly responded. Looking again at this, I now want to ask you, why are you asking this? Do you face a particular situation? Or is this one of those "fishing" questions that seem to be becoming more prevalent on HN (to my personal dissatisfaction, for one).