How Your Business Can Save Money on Office Workspace
One of the most significant expenses for any business is real estate—particularly the office workspace. The price tag associated with modern workstations can become exorbitant—in fact, a single workstation can cost your business up to $18,000 annually. However, with an intelligent strategy for office space planning, you can reduce overhead costs and help your organization save money. ■ Save time and money with POC System's solutions 3 Ways to Reduce Office Space Costs 1. Analyze the Total Costs Start by understanding the full extent of your office space costs. It's important to recognize that the workstation area isn't calculated in net value only. Gross costs go into it as well—like the costs of incorporating and maintaining corridors, kitchens, lavatories, etc. All these factors have an impact on calculating rent and electricity costs, adding up to your total expenses in the long term. ■ Accurately calculate your occupancy costs 2. Match Your Office Space to Your Needs Unfortunately, a lot of your office space can go unused due to changing work models and unanticipated absences. If your employees work 1 out of 5 days from home, at least 20% of your office space may be going underused. To avoid such a waste of resources, reducing your actual office space by 20% may be a solution to help you save money in the long run. Example:If your company of 1,000 employees working one day from home pays around 20 million dollars a year for all office-related costs, accordingly adjusting the office space can save you at least 4 million dollars. 3. Consider Your Lease Period Although often overlooked, the length of your lease period can be a major cost factor. Depending on your timeframe, there are various cost-reducing methods you can consider: Short-term: Shut down certain areas, get sub-tenants, or negotiate rent with your landlords.Medium-term: Return the office space to your landlord or get sub-tenants.Long-term: Run simulations to plan new offices or return the office space to your landlord. By taking all factors into account, you can identify which leasing option makes the most sense financially to save money on office workspace while still getting an efficient work environment. Save Up With Smart Office Space Planning A digital space management solution can significantly enhance your shared economy by helping you keep track of the relation between the number of workers and workstations. In turn, this can help you plan for any staff changes and measure office space cost per employee. Additionally, automated software can reduce the cost of labor itself of managing your office space and seating arrangements by eliminating manual processes. Custom seating plans for maximum employee productivityReal-time tracking of current seating and office layoutAdvanced insights into analytics to tailor your space according to your needs With the app's array of powerful features that let you accurately plan the number of workstations needed, you can plan your office at an optimal cost. In addition to improving your space utilization, the app runs simulations of office changes so you can test your vision out first without actually implementing it.
Asked 7 months ago
Why HR Should Rethink the Hot Desking Model in the Workplace
When it comes to office organization, one of the most commonly used models is hot desking. Hot desking is a workplace model that allows employees to share desks or other workspaces on an as-needed basis. While hot desking can be beneficial because of its flexibility and efficiency, HR departments have expressed their concern about implementing it blindly—and their apprehension is valid. Hot desking isn't universally appropriate for every company setup, and its implementation shouldn't just come down to numbers. The effect it will have on employees should also be a deciding factor. After all, employees are a company's main resource. ■ Streamline your hot desking efforts with POC System's solutions 3 Factors HR Should Consider Before Implementing Hot Desking There are key factors that can help HR departments decide whether hot desking will be a good fit for the employees and company culture. 1. Type of Work Employees Do Since employees will be the ones actively using the hot desking system, consider whether the daily work they do lends itself to this work model. If employees simply need an internet connection and a computer, it's very easy to adapt to hot desking. However, if employees need other equipment to do their work (e.g., extra screens, specialist hardware, access to paper records, etc.), then a permanent workspace is a better solution. Because employees aren't assigned a desk, it's impractical to expect employees to ferry, set up, and dismantle equipment each time they come to the office. 2. Privacy Needs of Employees Privacy concerns both the nature of the work (individual vs. group effort) and employees' own preferences. Some employees will prefer working alone in a quiet space where they can focus. A hot desking model in an open-plan space may be too disruptive and reduce their productivity. But other employees will thrive in a more collaborative space where they feel less isolated. A good middle-ground approach is to create "neighborhoods," where each area has a specific purpose (e.g., quiet zone, brainstorming zone, meeting room, etc.), giving each employee a workspace suited to their work and personality. 3. Office Space There's a practical side to hot desking: can the current physical office space accommodate hot desking? Each employee needs a certain amount of space to work efficiently, and there are safety laws to consider. Also, hot desking is based on a first-come-first-serve basis. If employees work flex hours, some may find that there are no available desks when they get to the office. This can lead to conflict and feelings of unfairness. An alternative option is to use hoteling, where employees can book desks beforehand. But this must also be monitored to make sure the booked seats are actually used. ■ Optimize your office space to boost employee satisfaction How Automated Software Can Help Automated space management solutions can help make sure hot desking keeps on benefiting employees once it's implemented. Create and update custom seating plans in real timeHot desking and booking softwareAdvanced insights into analytics to measure hot desking success With a digital floorplan, companies can easily set up their hot-desking environment according to their needs. Real-time updates and tracking means that changes can be made immediately and any problem areas can be identified. Plus, the booking app lets employees reserve desks and zones in advance. Reinvent Your HR Tactics With Hot Desking Hot desking can be a great asset for any HR department, but only if it's thoughtfully and accurately implemented. It's essential to understand the company's organizational DNA for this model to work and to take employee feedback into account to create an efficient environment with significantly improved job satisfaction. By using automated software like POC's Space Management System to manage its logistics, HR professionals can ensure employees feel more connected in the workplace and recognize their needs are met.
Asked 7 months ago
What Is a Distributed Workforce and How to Manage It
Over the last few years, the ability to work remotely has become increasingly popular, giving way to working arrangements such as the distributed workforce model. A distributed workforce is a business model that has employees working from multiple locations, be it company headquarters, satellite offices, or from home. While the advantages of such a model are plentiful, including improved employee satisfaction, you'll need to understand and implement this model properly to effectively manage your distributed workforce. ■ Get inspired by top hybrid work model examples Managing a Distributed Workforce Managing a distributed workforce can help you increase employee productivity within your organization. However, for your distributed workforce management to be effective, you need to adhere to the following best practices. Provide the Right Tools For your distributed workforce model to succeed, you'll need to provide the necessary equipment. An effective setup should include several reliable collaboration platforms, communication tools, and software for remote access and video conferencing. Other tools your distributed workforce employees can benefit from include: Project management tools Document sharing and collaboration tools Space management software Time-tracking software Customer relationship management (CRM) systems Streamline Communication and Collaboration Creating a successful distributed workforce requires excellent communication and the ability to collaborate effectively. Regular check-ins and making your expectations and goals help ensure each employee knows what is expected of them, when it needs to be done, and how. So, you should invest in an effective communication tool, as well as provide enough meetings or video calls to facilitate communication and collaboration. Additionally, regularly providing team-building activities outside of work can help boost teamwork among your distributed workforce, allowing your employees better collaboration and fostering friendly relationships with colleagues. Ensure Equal Opportunities for All Employees In a distributed workforce setup, it's important to ensure all your employees are given equal opportunities regardless of their location. You should make sure you can bridge any discrepancies between office workers and remote workers by having a set of guidelines and processes to ensure fairness across the board and avoid proximity bias. Example:If there's an important presentation being held in the office, it should be scheduled at a time that's convenient for remote employees to follow along live so nobody misses out. ■ Ensure business success by improving employee happiness Effectively Manage Your Distributed Workforce The distributed workforce model is gaining popularity for its many advantages, and with the right management strategies in place, it can increase employee satisfaction and efficiency within your business. By providing the right tools, streamlining communication and collaboration, and ensuring equal opportunities for all employees, you can reap the full benefits of the distributed workforce model and boost your bottom line.
Asked 8 months ago
What Are BOMA Standards for Office Workspaces?
BOMA stands for Building Owners and Managers Association (International). Founded in 1907 and headquartered in Washington, D.C., BOMA is today's leading association of the real estate industry worldwide for industrial, commercial, retail, office, and mixed-use properties. While not mandated, the vast majority of professionals choose the BOMA standard for office workspace measuring. Adhering to the standard BOMA measurements when organizing your office workspace can help you maximize your space utilization. What's more, this effective real estate method can save you time and money through consistent practice. 3 BOMA Office Standard Measurements 1. Usable Area Typically, usable areas in office workspaces refer to any space fit for human occupancy. So, think of areas that include cubicles, desks, conference tables, or individual offices. Here's how to measure this area: Begin from the office side of the common corridor wall and measure the inside of the external wall as well as the middle of the partition wall. However, to precisely measure your usable office area, make sure to exclude all non-occupiable spaces, such as restrooms, mechanical rooms, janitor closets, and other similar areas. ■ Optimize your office space use with key space utilization metrics 2. Rentable Area Rentable areas in office workspaces usually cover a little bit more ground than usable areas. This is because they include the office in its entirety, except for the areas used for accessing other floors, such as elevator shafts or fire escape stairwells. When measuring the rentable area of your office, use these guidelines: Start from the inside surface of exterior walls and measure along the office wall, excluding any major vertical penetration points. Keep in mind that there's usually no need to deduct columns or projections from the building when measuring your rentable area. 3. Load Factor The load factor refers to the percentage of space in your office that isn't usable, and it's typically expressed as a percentage of the usable area. So, you can use this formula to calculate your load factor: Load Factor = Rentable Area / Usable Area Calculating your office's load factor will help you know exactly how much extra space you're paying for. Generally, you should aim to have a 15%–25% load factor, depending on the type of office you're renting. ■ Get the most out of your office space by calculating your utilization rate Optimize Your Office Space Use With BOMA Standards Understanding and using the BOMA standard measurements is essential for accurately measuring your office space. Not only does this allow you to properly calculate your rentable and usable areas, but it also serves as a universal system of measurement to ensure accuracy across various types of buildings. By adhering to these measurements, you can easily create accurate office floor plans that can help maximize the efficiency and cost-effectiveness of your office space.
Asked 8 months ago
How to Calculate Occupancy Costs for Your Office Space
Calculating the occupancy costs for your office space is an essential part of your budgeting, planning, and decision-making. By accurately accounting for all associated expenses, your business can gain a thorough understanding of the bottom line, helping you effectively make well-informed decisions about your workspace. However, you need to know how to correctly perform an occupancy cost calculation to reap the benefits. How Do You Calculate Office Occupancy Costs? When calculating occupancy costs for your office space, you should consider all associated expenses and come up with their total sum. This could include costs such as: Base rent Maintenance fees Utilities Taxes Insurance costs Accurate occupancy cost calculation can improve your decision-making by providing a factor you can base your actions around. For instance, it can help you determine whether to renew your lease if you're renting your office space or if opening new premises would be a smart financial move. It can also play an important role in your loan application considerations. ■ Optimize your office space per employee costs How Do You Ensure Optimal Occupancy Costs? Ensuring maximum space utilization is essential for making the most out of your occupancy costs. To help you do this, automated systems like POC's Space Management Solution go a long way. Custom seating plans for maximum employee productivityReal-time tracking of current seating and office layoutAdvanced insights into analytics to tailor your space according to your needs Relying on tools like this is one of the most convenient ways to measure your workspace and get the most out of your budget. By thoroughly analyzing important aspects of your office space and how they're utilized, the solution helps you ensure you're capitalizing on the full potential of your office space to justify and minimize your occupancy costs. ■ Boost your office space use with key space utilization metrics Accurately Calculate Occupancy Costs for Optimal Utilization With precise tracking of all expenses associated with your office occupancy, you can effectively guarantee optimal utilization of your workspace. By using tools such as POC's Space Management Solution, you can gain a comprehensive insight into your budget to help you decide how to best use your space and get the maximum ROI while minimizing your occupancy costs. ■ Book a demo with POC System to optimize your occupancy costs
Asked 8 months ago
Space Utilization: From Calculation to Optimization