Why Is Space Management the Most Trending Thing Now?

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Office space management is in no way a new practice. So why is it the most trending thing when it comes to a flexible workplace? 

The workplace is evolving to keep up with employee needs. In the wake of the pandemic, most companies have shifted to a more flexible hybrid work model, requiring employees to be in the office only a few times a week. However, this move to hybrid working has introduced a fair share of problems. 

For starters, companies are beginning to see how their office spaces are mismanaged. Without all the employees visiting the office every day, offices look empty. Spaces are left unused, rent costs still add up, and even with few people in the office, energy consumption is high. These office spaces, thus, signify high costs.

Therefore, having a clear idea of your office space becomes critical. And thus, enters the space management– A growing trend in the business world. According to McKinsey, the global market for facility management will be $1.9 trillion by 2030. 

Effective space management is the key to an excellent work experience and ensuring judicious use of this office space. Read on to find out why space management is gaining traction among companies worldwide. 

Five Reasons Why Space Management is Trending

1. Growing Popularity of Hybrid Workplaces

A Deloitte survey on hybrid workspaces found that 79% of employees would like to work from home for a part of the week. But a big concern for most employers is an irregular flow of staff. One day, you might see an influx of employees in the office; the next day, only limited people might be allowed. 

The only way to please employers and employees is through effective space management. Space management helps FMs track this uneven flow, helping them keep up with the changing COVID rules and be ready to act when needed. 

Moreover, companies are actively turning to activity-based working – hot-desking and hoteling – to bring much-needed freedom to their workplace. With hot-desking, companies are reducing the number of desks and increasing the employee-to-desk ratio, thus, reducing space wastage.

2. Uneven Use of Space

Do you find an area in the office overcrowded most of the time while there lies a corner that anyone hardly visits? Better facilities, proximity to their colleagues, or visibility could lead to some office spaces being used more than others. But this clearly indicates uneven use of the available space – leading to the following concerns:

• Underutilized spaces could cost companies huge amounts in the long run, in terms of upkeep and electricity
• Uneven distribution of workspace can hurt employee productivity
• Overcrowded areas could be seen as risky by employees in the post-pandemic era

To tackle this, companies now need to rely on accurate data about how employees use the office space. This is where space management software comes in. It provides insights and gives detailed occupancy reports to help manage the facility, enabling faster decision-making are more efficient space management.

3. The Need to Reduce Real-Estate Costs

According to research by Planon, a workspace costs about $13,000 a year, but companies end up using only 50% of this space. And now, considering work-from-home employees, the numbers go even lower. Inevitably, companies are actively looking to reduce their office real estate and cut costs.

Space management makes this easier with shared desks and reimagining informal spaces. Space management can further help companies design an office space that is just the right size and has ample facilities for the employees. Companies see this as a chance to reduce overhead costs, energy consumption, and carbon footprint.

4. Increased Importance of Reducing Energy Usage 

Companies are trying not to be energy-suckers in the midst of the climate change crisis. If certain areas of the office are rarely in use on any given day, spending on lighting, air conditioning, and more, hardly makes sense. Here, using smart tools – combining space management and energy-saving solutions – helps reduce energy and maintenance bills by 20%. 

Effective space management shifts your energy consumption from scheduled to need-based. This way, managers can check and control all the office devices and reduce energy expenses.

6. Ensuring Health and Wellness of Employees 

A global pandemic boosted the need for strict health and safety rules. With the norms of social distancing, employees are now more concerned than ever about working in overcrowded office spaces and its impact on their health. 

Space management helps managers optimize space allocation on their site to ensure employees are spread out as much as possible. In addition, it allows them to implement flexible working and hot-desking solutions in the workplace, further ensuring employee satisfaction and wellness. By keeping employees’ well-being at the forefront, companies gain employees’ trust and encourage them to be more productive.

In Conclusion

The pandemic has reshaped how we use our office spaces – cutting costs is not the only goal, but rethinking the office space to improve the employee experience. As a result, companies are using space management to create offices conducive to work and cater to employee comfort.

Moreover, facility managers will take more strategic roles as workplace models evolve. Automation in facility management can reduce costs and improve daily operations. Then, space management software will become a necessity for all redundant activities. 

To increase company capabilities and employee satisfaction, invest in WorkInSync space management software that includes everything from desk booking to meeting room booking and parking management. If you are interested to learn more about the product, opt for a demo today.