Real estate for most organizations is the second-largest expense. But it also provides the most significant opportunities for cost reduction.
With the introduction of hybrid workplaces, managing real estate has become a priority for most organizations. A CBRE survey pointed out that 85% of its respondents expect to see increased workplace flexibility. By 2022, experts believe that 42.5% of the global workforce will be flexible.
This has raised the question of required real estate for most companies. Hybrid workplaces allow employees to be flexible with their work locations. Hence, real estate has opened prospects for better management.
Most companies are looking to improve their space utilization. However, to make adjustments to the existing real estate, you must have visibility. From desks to meeting rooms, you need to know how they are being used.
This leads to the requirement of space management software. This blog talks about space management software and how it benefits your organization.
What is Space Management Software?
Hybrid workplaces create several challenges for workplace managers. To begin with, there is an issue with empty real estate. This is apparent with not all the employees being present together.
Apart from the aesthetic appeal, this entire angle of empty office space is costly.
Also, an empty office might give off the right vibe, especially on a Monday morning.
A space management tool helps facility managers create an optimized workflow. So say, only 10% of your employees decide to come to the office, you can let them sit together, giving a collective sense of belonging.
Many workplace experts believe that a space management system is essential to mitigate the challenges of a hybrid workplace.
Still not convinced? Below are nine reasons that will convince you to invest in space management software.
The Benefits of Space Management Software
#1 It Gives Real-Time Space Utilization Data
The average office space remains vacant 40% at any given time. And with the introduction of hybrid workplaces, the chances of empty desks or meeting rooms increase two-fold. Also, the cost of maintaining those empty spaces can cost your company tens of thousands of dollars.
Hence, it is imperative to have a good handle on the office occupancy rates. Now, this can be anything from floors to desks.
Real-time space utilization data may be pretty shocking. You will notice that several pockets in your office remain empty.
However, once you get used to it, the cloud-based data can be empowering.
With the utilization information from space management software, you can make data-driven decisions. From maintaining social distancing protocols to building utilities, every aspect of your decision will be informed.
You can better utilize your existing office space. Space allocations also become easier.
#2 Space Management Software Helps Improve Employee Experience
If the pandemic has taught us something, value employee experience.
By now, you might be aware that the functionality of your office space has a direct impact on how your employees work. It also determines their approach to the workplace.
Employees should not struggle to find a desk or a meeting room in a hybrid workplace. Or say if they need to book amenities, they should be able to do it from their web or mobile app. Finding their colleagues, it should be done with a click.
This is where space management software comes to play. Such software offers navigation. This makes it easy for the employees to find exactly what they need.
For instance, if your employees are inclined to use more conference rooms than desks, you can make the required adjustments. This ease of use ultimately caters to employee experience.
#3 It Shows Your Entire Real Estate Portfolio
To ensure that your hybrid workplace is optimized, you need to have a clear view of the entire real estate. This includes granular as well as overall view of the office space.
A space management system provides you with a holistic view of the entire real estate. It also removes any need to compile large volumes of data.
#4 Space Management Software Provides Custom Reports
You want to see how your space is being used. But to do that, you need to compile data, format it and make it presentable enough to understand.
With space management software, this need is already met. The software provides robust reporting like floor occupancy, available desks and meeting rooms, and more.
This can be essential to get a better context of the existing real estate. And good space management software will allow you to customize the reports for your requirements.
#5 It Also Provides Data Mobility
Managing a hybrid workplace using spreadsheets is not scalable. Apart from errors, it can be time-consuming.
Also, it can be challenging if you need to provide access to space utilization data with, say your seniors. Space management software ensures that you can get your data whenever required.
You can share access to the app with the required people and allow them to see the data without any hassle.
#6 Space Management Software Helps Understand the Latest Space Trends
A hybrid work model is dynamic. One day your employees may demand more desks, and on the other, they might need more shared spaces.
With space management software, you will better understand space trends. You can make long-term plans since it gives you a consolidated idea of how much space the employees use and how much you need to accommodate them.
#7 It Helps You Manage Office Moves Easily
Tomorrow if your organization decides to expand, an office move might be required. However, planning and preparing for a big move can be stressful.
You will have to roll out new seating plans, update the new requirements, and sketch out different scenarios. And all of this needs to be done even before you move a single desk.
With a workplace management system, planning a move can be done quickly. All you need to do is design it out on the software. You can create digital tickets and service requests for the move. You can also assign and track tasks.
#8 Space Management Software Helps Locate Employees and Assets Easily
With the introduction of hybrid workplaces, it can be complicated to find people, assets, and even rooms.
Space management software can fix this by providing a detailed map of the entire office. You can see which employees are sitting where. Or say, if an equipment malfunctions, you can easily locate it and get it fixed.
#9 It Improves The Overall Functionality of Office Space
With each benefit mentioned above, the ultimate motive is to improve the functionality of the office space. From employee experience to cost reduction, everything hinges on how functional the office space is.
Space management software can, for instance, show that the conference rooms are always occupied. This might help you free up more spaces for better collaboration.
You can use space management software to make your office a haven of functionality.
With such an array of benefits, it is only evident that space management software can be leveraged to make your hybrid office better.
Investing in a space management system is a significant decision. Before making a purchase, you should ensure that the software aligns with your company’s strategies.
WorkInSync offers robust space management software. You can opt for a demo today to witness the features in full action.