How to effectively utilize office space in a coworking space.
Office space utilization, as the name suggests, refers to how well an office’s physical workspace is being optimized. While it may not seem like a big deal if a certain amount of square footage isn’t being properly and efficiently used, this can certainly add up and cause problems such as profit loss.
To help ensure that this doesn’t happen to your business, we’re going to take a look at some basic statistics and then show you how to utilize office space with some easy-to-follow tips.
Office Space Utilization Statistics
When considering office space utilization in today’s business climate, you have no choice but to look forward to what the future holds. CBRE, a corporate real estate and global investment leader, recently published a report entitled “Global Occupancy Insights 2021-2022.” This report showed that major shifts in occupancy management
are taking place.
Here are some of the statistics they covered for businesses:
- 63% are designing space in new, exciting ways
- 80% are redesigning collaborative spaces
- 71% have initiated remote work programs
- 80% have either initiated or are considering more activity-based seating
- 21% use vacancy as their primary performance metric
- 83% either use or are planning to use utilization as the space usage metric
- 90% already use technology for tracking and occupancy
- In their technology platforms, 86% use data gathered from various parts of their business.
Office Space Utilization Best Practices
Learning how to utilize office space will improve the way your company functions and make your workforce more efficient.
Here are some best practices you can start applying today:
Regularly Analyze Usage
The best way to make sure you’re properly utilizing your office space is to perform an analysis on a regular basis. Keeping up on this will allow you to always know where you stand. This will inform your decisions to improve your workplace’s efficiency and effectiveness. You’ll need to be looking at office utilization metrics such as the office’s overall capacity, normal space occupancy, number of workstations per employee, room usage, and a few other variables.
Apply the 3/30/300 Rule
The 3/30/300 rule is a basic calculation that goes like this: $3 for utilities, $30 for rent, and $300 for employee expenditures for every square foot of occupied space. These numbers obviously won’t be perfectly accurate for every business, but they give you a general basis to start from. This will allow facility managers to more easily make cost-strategy decisions.
Promote a Flexible Environment
As you’ve no doubt noticed, today’s work environment is much different than it was even a decade ago. Shifting trends, some of which were exacerbated by the COVID-19 pandemic, have shown that today’s workers and many business leaders prefer a flexible work environment
. If your business can accommodate flexible work schedules and remote work, for instance, this can go a long way toward utilizing space more effectively.
Strategy should be based on data
In any business, one of the most important commodities you have is also the easiest to compile: data. With the use of office space utilization metrics such as the aforementioned capacity, occupancy, and density, you’ll gain an understanding of how your workplace is performing and how to make it even better. You’ll be able to make well-informed decisions based on data, so you can optimize your office space and become more efficient.
Use Management Software
There’s absolutely no reason you need to do all of this on your own. You won’t be able to optimize office space with pens and paper, and a simple spreadsheet is unlikely to suffice. Luckily, there are several types of office space management software solutions that will easily track space utilization data that you can use in your calculations and decision-making.
When using the software, however, just be sure that you’re aware of employee concerns because tracking can become a touchy issue. This brings us to our final point…
Always Consider Employees
We can talk about office space utilization and business commodities until we’re blue in the face, but at the end of the day, your most important asset is your employees. When you’re trying to figure out how best to utilize your space, you must keep their needs in mind.
Squeezing them all together so that you can even out the metrics just a little bit more may not be worth a negative employee experience, for instance. The aforementioned tracking software is not for them if it makes them uncomfortable. You must find a proper balance.
4&Co. can assist you with office space utilization
4&Co. promotes working environments to fit every business need. If you require more information on how to utilize office space or would like a tour of one of our facilities
, including our new coworking campus in Bexley
, call our friendly staff at (727) 725-2745 today.