16 May, 2019, 09:00 ET
RALEIGH, N.C., May 16, 2019 /PRNewswire/ -- A new study conducted by independent market research firm Verdantix, commissioned by FM:Systems, finds that organizations investing in technologies that provide a complete view of how their space is being used, and leveraging the data for strategic business decisions are improving the employee experience, driving business growth and increasing their bottom line.
Leveraging evidence from detailed global research over the past three years and interviews with senior executives across financial services, healthcare, higher education, pharmaceuticals, the public sector, retail and telecommunications, revealed that companies exist within four phases of maturity. The phases range from "basic" where space is an afterthought and discussed mostly when issues arise, to "best-in-class," where silos disappear and executives across facilities, human resources, IT, operations and real estate work in tandem to support business planning, staff productivity and talent retention.
"For some organizations, what used to be a simple measure to optimize room bookings has morphed into a sophisticated strategic tool that can save millions in operational costs, says Ibrahim Yates, Industry Analyst at Verdantix. "But many more take a reactive, tactical approach, which is a mistake given the rise of co-working, the desire and demand for flexible, agile work environments and a growing emphasis on people-centered design."
The Research Report, "The Unrealized Potential of Space Management: What You Need to Know to Benchmark Your Workspace Maturity," identifies six categories of which companies should measure and evaluate themselves and their workspace management program, as part of a maturity model self-assessment. They include:
- Space Management Strategy
- Policies & Process Governance
- Employee Experience
- Data Quality
- Technological Capabilities & Analytics
- IT Security & Data privacy
Evaluating this function through a structured maturity framework will shine light on what needs to be done to address this opportunity. Once the online self-assessment is complete, participants learn which phase they're in across each of the six categories above.
"We created this self-assessment to shed light on inefficiencies and to provide a path forward for organizations that may not have connected all the dots, said Brian Haines, VP of Strategy at FM:Systems. "We pride ourselves on helping clients glean insights from data on exactly how their space is being used, which leads to better planning, more efficiency and greater control, and believe this self-assessment will start much-needed conversations across the enterprise."
Any organization with a sizeable workforce and portfolio will benefit operationally if it moves along the different maturity phases of the six dimensions outlined above. What will be unique to each organization will be the level of urgency around optimizing space usage, the level of buy-in from different stakeholders and the capacity for change.
The Space Management Maturity Model Self-Assessment can be accessed through this link as well as on the FM:Systems website.
About FM: Systems
FM:Systems provides technology that enables Facility and Real Estate teams to identify, plan, and deliver the ideal workplace for every employee. Our leading web-based Integrated Workspace Management System (IWMS) software improves management of space, occupancy, renovations, moves, maintenance, property, assets, agile workspaces, employee experience, smart buildings and more. FM:Systems is headquartered in Raleigh, North Carolina, and conducts business throughout the Americas, Africa, Europe and Asia Pacific. For more information about FM:Systems, please visit www.fmsystems.com.
Verdantix is an independent research and consulting firm, based in London and New York, with a focus on innovative technologies that optimize business operations. We have expertise in EHS, operational risk and smart buildings. Through our research, advisory services and events we help corporate managers, investors, technology executives and services firm leaders to make robust, fact-based decisions. We are committed to delivering objective, timely and accurate analysis to help our clients succeed.
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