Open Forum

Tackling the 5 Hidden Costs of Space

By Natalie Appleton posted 05-03-2016 16:43


When it comes to the overheads in your business, many are in plain view and easy to see – labor costs, for instance, and materials. But all too many businesses find they are somehow losing money every month, and struggle to see exactly where it’s slipping away.

Poor space utilization can be a major culprit – and if you doubt that, remember that a desk costs around $14,800 per year throughout New York.

So what’s the secret of tackling this drain on your resources?

You need the tools to help staff book space and facilities easily if they are to work effortlessly and maintain their productivity.

Meeting room booking systems can provide concrete help in tackling 5 hidden costs of space, whatever the size of your business.

1) Booking out – if your staff can’t find and book space easily, they tend to spend money on outside space. If your own space is lying empty, that’s money down the drain. Meeting room booking software can help them identify available space easily and book it online via Outlook, together with equipment they need.

2) Slow adoption of new technology – easy access to advanced technologies such as video conferencing can encourage staff to make full use of it. That means less travel, less time in traffic jams, a greener footprint – and happier staff.

3) No-shows – if staff book meeting rooms or desk space then don’t turn up, that costs. A good scheduling tool solves it by automatically releasing the space if users do not arrive within a time that you set.

4) Lack of space utilization policies – Organizations often grow their space organically over time, and lack a coherent policy for its use. Meeting room booking systems can help businesses to enforce space utilization policies, improving space management and reduce costs.

5) Failing to adapt – today’s flexible working doesn’t work if staff can’t find the right space to be productive. Affordable sensor technology can now show precisely 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?

Absolutely. 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 good 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.

1 comment



05-16-2016 18:13

FREE webinar on May 26th at 1pm Eastern hosted by our CEO, Luis DeSouza, on “Tackling the 5 Hidden Costs of Space”.
NFS has been fortunate to work with many leading global companies in the Financial, Legal and Utilities sectors. Luis will be sharing insights from those experiences relating to the following topics:
•The space costs you don’t see
•How a Global Utility Company is tackling key causes of waste
•How emerging technologies can provide tools to improve utilization.
•Tricks to unleashing employee productivity
The Webinar is at 1PM Eastern time on Thursday, May 26th.
Register here if you would like to join: