A new calculator developed by Australian workspace management software firm OfficeMaps is helping organisations figure out exactly how much they can save with a hot desking arrangement.
Faced with tougher economic conditions, organisations looking to cut costs are turning to novel new ways to trim their budgets. As more companies switch to hybrid work models, cloud-based offices and remote meetings, efficient management of office real estate is a key area for cost saving measures.
OfficeMaps CXO, Robert Wilkinson says, “Many organisations are reassessing how much space is actually needed to keep a business going. A physical location to run a business from will always be essential, but how that space is used and how much of it is required are considerations that have changed since the pandemic.
Hot desking is a great way to make maximum use of limited resources. As operational costs continue to increase, it’s an obvious solution to ensure businesses get their money’s worth for the rent they pay.”
By using the latest global and local public data including up-to-date info on the price of prime and sub-prime real estate in key cities all over the world, OfficeMaps was able to develop an estimate and informative tool for calculating an organisation’s potential savings if it switched to hot desking.
Factors such as how tightly packed an office is due to existing amenities, services, building structure, and circulation spaces, how crowded with people it gets (also known as the desk-to-person ratio), and how many people it employs are included towards the final calculation.
For example, an office located in a prime commercial district in Sydney, Australia costs an average of $USD 742.71 per square metre according to the calculator. Based on this rate, an organisation that employs 100 employees with an average vacancy rate of desks at 27% and a distribution of one desk per 12.5 square metres (medium density) could potentially save $225,598 if it switched to hot desking.
“Hot desking is a way for businesses to reduce overhead costs and eliminate dead space from their offices,” says Robert Wilkinson. “OfficeMaps’ new calculator is the first of its kind to actually demonstrate the huge savings that can be obtained by making this one simple switch. In a volatile economy every dollar counts so for businesses trying to stay afloat, hot desking is a no-brainer.”
Calculator can be viewed here – Hot Desk Saving Calculator (officemaps.com)