The global economic uncertainty has highlighted the need for both private and public sectors to critically review their finances, including property costs.
Savings from property are hard won, often requiring major investment in IT, new buildings and lease exit costs. However, there are three things your organisation can do to make this easier:
Develop an in-depth understanding of the whole of your property portfolio: estate departments need to understand much more than the lease terms and rent payment dates to be efficient. Information on occupancy levels, maintenance costs, rent forecasts and review dates can all indicate where and when action is needed. It is important not to be sentimental about iconic buildings – if you need to dispose of them, do so.
Align your property portfolio with your organisational strategy: growing organically by acquiring pockets of space to meet short-term needs is not effective and should be resisted. Starting with an overall requirement, including function, location, staff numbers, and IT infrastructure, will create a property portfolio which is flexible and rational.
Remove the territorial aspects of desk occupancy: if your organisation is still using cellular offices, you could gain an immediate saving by introducing open plan. Similarly, if using open plan already, then introducing a desk share scheme where eight or nine desks are shared between 10 employees will yield benefit. The key to getting the best from your property portfolio is removing the territorial aspects of desk occupancy.
Work is something you do, not somewhere you go. Embedding this ethos in your organisation can lead to space savings, reduced costs of churn, more flexible working and greater productivity.
To find out more about how to get the best from your property portfolio, please contact us now.