Is your business suffering from the 5 hidden costs of space?
When it comes to the overheads in your business, many are right in plain view – labor costs, for instance, and materials. But I hear from too many businesses who are somehow losing money every month, and struggling to see just where the cash is slipping away.
So what’s the secret?
Listen up. Many hidden costs come down to wasted or misused work space – if you don’t believe me, think about this: a desk costs around $14,800 per year throughout New York. Wherever you are, you’re paying out for space.
I’m glad to say, though, that tackling the hidden costs of space in your business is a cinch if you have the right tools. And that comes down to great meeting room booking software.
What are you waiting for? Tackle these 5 hidden costs of space now:
1) Booking out – like our happy customers, if your staff are not able to find and book space easily, they get cranky – and that’s when they’ll spend money on outside space.
If your own space is lying empty, that’s just dumb. Good meeting room booking software helps them identify available space easily and book it online effortlessly via Outlook – no cranky staff, no expensive outside bookings.
2) Saying no to new technology – making it easy for them to grab a sliced of life-changing new technologies such as video conferencing. Life-changing? Sure – when was the last time you felt happy sitting in a traffic queue? Video conferencing means less travel, less time on the road, a greener footprint – and happier staff
3) No-shows – if your staff book meeting rooms or desk space then don’t pitch up, it’s a direct yet hidden cost to your operation. Space is a big, big cost – is an expensive commodity – . Good space management, supported by easy-to-use software, means it never stands unused.
A good scheduling tool solves the issue by automatically releasing the space if your guys don’t turn up in the time you set.
4) Shoddy space utilization policies – Organisations often grow their space organically over time, and don’t write the policies they need to use it well. Meeting room booking software can help businesses to enforce space utilization policies, improving space management and reduce costs.
5) Failing to adapt – your workplace is getting more flexible, and so are your staff.
Are you up to speed with this? If not, you could be letting them down. Affordable sensor technology can now show how your space is being used, so staff can make informed choices and facilities managers can plan utilization.
Can tackling these issues make a big difference?
You bet. One Global Utility has been able to rethink its room configuration completely, and reported savings of $100,000 dollars in just three months. It’s a great example of how removing the hidden costs of space utilization can create a healthier, more productive workplace.
So isn’t it time to tackle the hidden costs lurking in your empty offices and unused hot desks?
Check out how technology can help tackle the causes of wasted space.
Head of Rendezvous Sales
As head of Rendezvous sales for EMEA, Nick Day draws on years of experience with major global companies to offer unique insights into how technology creates a connected workplace that supports modern ways of working - and delivers better productivity, collaboration and well-being in the workplace.