Is Your Current Workplace Strategy Costing You Hundreds Of Thousands Of Dollars A Year?
Recently, Verdantix reviewed a range of data on real estate operating costs for both renters and owner-occupiers. Data was pulled from our global annual decision-maker surveys, BOMA surveys and ASHRAE HVAC maintenance surveys to determine a typical baseline operating cost for commercial buildings in the US. An analysis of this average cost data with potential savings from various strategies finds:
Over 50% of operational cost savings can be achieved through improved space utilisation. This should come as no surprise for two reasons. First, better use of existing space can reduce the amount of space required for operations leading to reduced costs across all real estate opex categories (fixed expenses, utilities, maintenance, maintenance and rent costs). In addition, more can be accomplished in an existing workplace without incurring the extra cost of acquiring more space for business expansion.
Secondly, the nature of the workplace environment is changing. Workforces are becoming increasingly mobile as the nature of work becomes more collaborative. A Gensler survey found that 32% of employee time is spent in a mix of focused, social and learning environments. Combine this with various telework schemes and its no wonder firms like space management vendor Rifinity finds that, on average, only 45% of workstations are used on any given day – instead of the hoped for 80%. With workstations costing an average of $5,000 to $20,000 apiece – poor space utilisation is like throwing money out of the window.
Firms that combine better space utilisation with improved energy and maintenance management can unlock even more significant cost savings opportunities across their building portfolio.
To understand more about the solutions that are available to help building owners capture these savings and more, join our upcoming webinar IWMS: What You Need To Know Before Buying A Solution and stay on the lookout for our upcoming report: Smart Innovators: Facility Optimization Management.