Planning for the future of work?
Prepare for rapid change intelligently by benchmarking and optimizing your use of office space.
The needs of your business and employees are changing faster than your workplace can keep up. But you're not alone.
Did you know?
- The average worker is at their desk 40% of their working day
- 80% of work is defined as “collaborative"
By tracking utilization, we uncover valuable insights so workplace planners can spark real productivity. We can trim pointless spending on large offices in favor of a more collaborative space. We can appeal better to millennials and others who prefer an “anytime, anywhere” work ethos.
Our 2018 Occupancy Benchmarking Report highlights the role of data and advanced analytics in shaping workplace strategy for an ever-changing world of work. A full 77% of respondents said a primary goal for their real estate team this year is to improve space data accuracy. As the number-one response, this points to the pressure corporate real estate leaders are under to make even better-informed decisions. Respondents cited other important goals as well: optimizing the portfolio, reducing overall portfolio costs, and increasing the use of utilization data for planning.
Sneak a peek at key observations in this year’s report:
Top metrics organizations track
Occupancy/vacancy, utilization and density are the top most-important metrics organizations track, both this year and last year. And for good reason: these metrics can help an organization determine how much space they occupy today, and how much they can grow into in the future.
Based on our data, only 61% of organizations track utilization. And of those who do track utilization, the majority of organizations have utilization rates between 60-70%. This means their space is underutilized 30-40% of a typical workday. Given that real estate is the second-or third-highest cost on a balance sheet, that’s a significant opportunity for cost savings.
Office space density
Most organizations have densities of 150-225 square feet per person. Over the last few years, we’ve seen this number decrease, as organizations reduce large corner offices, increase the use of small workstations, and implement mobility programs that give employees choice in where they work throughout the office.
Given the positive impacts on portfolio productivity and employee experience, mobility program adoption continues to increase. All of our clients in Latin America/South America have mobility programs, EMEA and APAC both have strong adoptions of mobility programs, and North America has the lowest adoption of mobility programs.
How utilization is tracked
For many corporate real estate teams, understanding utilization is considered the holy grail. Knowing how much space an organization currently uses helps inform portfolio strategies such as reducing square footage, adding new locations, and accommodating growing headcount while driving employee experience and productivity. Of the 61% of organizations who track their space utilization, the majority do so via employee wearables and visual observations.
What's in this report?
In addition to survey findings, we outline the strategies, tactics, and tools that leading companies across the globe are implementing to better understand and optimize their use of space.
You'll gain insight into how to:
- Reduce real estate costs
- Boost employee morale and productivity
- Better position your company for future growth