Quickly understand your portfolio health and team performance
Space Dashboard is a fully-automated dashboard report. It rolls up all relevant metrics about your Corporate Real Estate portfolio. Metrics include your property’s key space management metrics, including costs. The Space Dashboard rolls up performance metrics, outlining target achievement. The dashboard also includes building usage trends.
The Space Dashboard provides the data visibility you need to understand property performance.
Your Property Portfolio Data Living in One Dashboard
Space Dashboard aggregates pan-portfolio data about your property, your people and costs. Metrics are assembled into an automated, configurable and easy-to-digest tile-based dashboard.
Space Dashboard outlines data in a standard dashboard configuration.
- Annual costs
- Annual vacancy costs
- Building count
- Area (sq ft/ sq m)
- Workspace (total workstations, occupied workstations, flexible workstations, vacant workstations and total meeting spaces)
- Occupancy (total head count, managed head count and flexible assigned head count)
These metrics and simple presentation enable property teams to balance four key (and sometimes conflicting) perspectives – finance, building users, CRES’ own standards and corporate objectives by identifying where gaps are and optimizing facility deployment.
Automated Data Feeds Improving and Maintaining Data Quality
The WebCoRE platform accepts pan-portfolio data feeds. Changed data is automatically pushed live. This drives in-bound and out-bound data transmission aiding all stakeholders involved to maintain accurate data.
Accuracy and timeliness is key to monitoring overall performance.
Understand exactly the health of your property portfolio and the numbers behind it. Identify and correct existing data variance from across sources and improve data quality. Validate headcount variance against employee records and headcount. Incorporating data from Human Resources enables Property Teams to identify when workstations become vacant due to temporary/ permanent attrition. This enables teams to stay on top of vacant workspace and adjust space deployment by floor plate, neighborhood or allocation to Business Group reducing overall costs (space provision through purchase/ lease, assets, maintenance, energy). Identify over/ under-utilization levels.
Benchmark Property and Team Performance
Space Dashboard’s data aggregation and backend configuration drives property and team benchmarking, which is crucial to optimizing portfolio health.
A big opportunity for space savings is using benchmarking to reduce underutilized space. Much underutilized space will come from pockets of vacant space throughout a building, often caused when an employee leaves a company and the position is not immediately filled. If this happens frequently, it may be worthwhile for the company to reclaim the space and rearrange what remains. Benchmarking will identify when a company’s space utilization rate is much higher than that of similar floors/ buildings.
Dashboards outlining your property, benchmarking and KPI’s provide insight into the broader goals important to your organization and serve as communication – passively notifying personnel of how they’re meeting expectations and directly by arming personnel with tangible data to initiate conversations.
Automating and digitizing benchmarking moves this traditionally cumbersome activity that requires a lot of heavy-lifting and is done once a year to a hands-off activity with data updating at a client-defined cadence. Current data enables benchmarking to move more centrally for everyone to view and work from. Digitizing and automating monitoring enables teams to more freely access and follow their performance. This can drive better conversations and faster actions.
Portfolio management is a balancing act requiring teams to work together to satisfy building users and corporate strategy within budget while maintaining a consistent and standardized feel throughout facilities. Benchmarking is the answer that enables your property teams to understand their success in managing these four elements.
Organizations that build benchmarking into their CRES operations typically see a 6% reduction in their space footprint in the first year and an additional 5% after the third year.
Monitor Property and Team KPI Achievement
When developing your KPI’s, The Changing Workplace holds generic industry-specific benchmarking standards to enable you to first determine if your portfolio performance is in-line with your industry’s average. Further, customize KPI’s incorporating your organizational objectives, how you plan on achieving them and responsibilities.
Communicate these goals through KPI’s and monitor progress through historical and like-for-like comparisons. Drill into data, isolating and identifying the areas or teams where improvements are required to make KPI targets. Drive accountability from within teams and provide personnel the data insight required to make impactful change rebalancing and optimizing property.
Space Dashboard allows you to drive accountability. You know how your facilities are currently performing and you know where you want them to be to balance your user’s experiences, finance targets, FM expectations and broader corporate objectives.
Standard Space Dashboard KPI’s measure portfolio and team performance highlighting:
- Agile vs. fixed workspace ratios
- Data variance percentage
- Workspace vacancy percentage
- Space standards adherence (sq ft/ meter per employee/ workstation)
- Against CRES team performance (including move teams)
- Building access (from assigned/ unassigned employees and visitors)
Drill into Your Data
Space Dashboard’s search and filtered views pulls out data enabling you to view the exact data parameters you want to understand.
Drill into your property portfolio to better understand team and property performance across key variables:
- Geographical Location
- Business Hierarchy
- Workstation Occupancy
- Building Type – Managed/ Unmanaged
Data points dynamically update outlining only the data relevant to your search. This allows you and users to slice data answer a multitude of questions – including comparing historical performance and like-for-like performance up to region level.