How can you identify, quantify, and enhance the impact of your corporate real estate (CRE) on employee and company performance?
Hint: It’s all about using data and metrics tied to workplace design, work experiences, and employee satisfaction.
This information acts as a guidepost for the future, showing you where to go and how to get there. To boost your return on workplace investments, track these six metrics.
1. Space utilization and occupancy metrics
To make the most of your real estate, space utilization data tells you how much of your building is being occupied at a given time, how much space sits empty, and which spaces are used most often. These metrics pinpoint under- and over-utilization at the building, floor, and room level to inform decisions about downsizing, expanding, or altering spaces.
Which meeting rooms are always booked? Can you make the cubicles on the third floor larger? Have you reached maximum occupancy level at a specific property? How is space being used differently now versus before the pandemic? The answers are in your space utilization and occupancy data.
2. Scenario modeling metrics
In the next year, the customer service department will need to double its headcount. Can you reasonably accommodate this growth within their existing space? Scenario modeling metrics provide a way to evaluate what-if scenarios, proposed solutions, and feasibility studies, so you can assess and compare options before you make a decision.
This data gives you a way to proactively prepare for future needs and achieve space plan goals. Map out usage possibilities for floors, properties, and entire portfolios to predict changes and outcomes.
3. Benchmarking metrics
As you document processes and collect data, you can also establish benchmarks to compare performance and results over specific periods of time.
For example, benchmarking metrics help you measure progress toward CRE goals. If you want to achieve a 5% annual reduction in energy use, then you can use benchmarking metrics to compare energy usage data over time and understand where your organization stands in terms of usage—and whether you’re on the right path to meet that goal.
Benchmarking metrics also help you measure performance compared to similarly sized organizations in the same region (evaluate lease cost benchmarks, service provider benchmarks, etc.).
In addition, you can measure year-over-year space utilization trends and behavior shifts to see what’s changing—and how.
4. Location optimization metrics
In addition to optimizing your square footage, it’s also important to optimize employee workspace locations based on where employees live to ensure high levels of satisfaction, health, and safety. Using location optimization metrics allows you to confidently determine where and how to place employees and their workspaces, so they can get to the office quickly and efficiently.
This information can be used to help prevent long commutes, prevent over- and under-occupied areas, and align occupancy with employee expectations and comfort levels.
5. Behavioral analytics metrics
Insights on employee behavior—gained through behavioral analytics—help improve and personalize workspaces.
If you know how often an employee works in the office, which spaces they use most often, and the type of work they do, then that information can be used to depict habit and teamwork trends that shape future decisions.
With this information, you can make informed workspace judgments to streamline operations, cultivate better employee experiences, improve energy efficiency, and boost morale. Metrics that measure behavioral analytics also demonstrate the value of the changes you make in a space to improve utilization or satisfaction.
6. Enterprise device management metrics
Metrics about enterprise devices and systems report on how well a building system (lighting, HVAC, etc.) is doing its job as well as its overall health, age and condition, necessary maintenance, and costs to the organization.
Looking at patterns of historical issues allows you to predict potential failures ahead of time, minimize emergency repair work, extend asset life, and make data-driven decisions that maximize performance and minimize total cost of ownership. All of this reduces impact on employees and creates better, more comfortable workspaces.
Use metrics to enhance your workplace
JLL Technologies’ unique combination of strong real estate understanding, technical business intelligence, and analytical skills provides the insights you need to enhance your workplace.
We provide pre-configured analytics that include insights to uncover occupancy patterns and utilization behaviors, proactively model future space needs, maximize productive space, and rapidly accelerate design decisions.
Ready to talk to a real estate analytics expert? Contact us.