{"id":3355,"date":"2019-02-28T04:23:00","date_gmt":"2019-02-28T09:23:00","guid":{"rendered":"https:\/\/eptura.wpengine.com\/discover-more\/blog\/workplace-benchmarks-for-success\/"},"modified":"2024-09-10T00:34:59","modified_gmt":"2024-09-10T04:34:59","slug":"workplace-benchmarks-for-success","status":"publish","type":"post","link":"https:\/\/eptura.com\/discover-more\/blog\/workplace-benchmarks-for-success\/","title":{"rendered":"Workplace benchmarks for success"},"content":{"rendered":"

Savvy business owners know when something\u2019s not working. Problems become apparent on profit-and-loss statements and balance sheets\u2014and demand immediate attention. But finding the right solution can be overwhelming. Who do you listen to? What\u2019s the cause of your problems? Where do you begin?<\/p>\n

Understanding how business went from A to Z requires data and a clear view of what it tells you about what\u2019s affecting the bottom line. To do so, it\u2019s time to start from the beginning by determining where business goals were initially set, collecting data along the path from there to where you are, and then analyzing ups and downs. It\u2019s called benchmarking and the process is crucial to draw a true picture of your business successes and failures.<\/p>\n

Benchmarking helps create strategic plans for enduring success. Collected data and the resulting analytics allow decision makers to:<\/p>\n

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  1. Identify best practices and eliminate bad habits<\/li>\n
  2. Improve facilities staffing and management<\/li>\n
  3. Measure, understand, and improve efficiencies<\/li>\n
  4. Quantify and justify costs<\/li>\n
  5. Support maintenance reports and plans<\/li>\n
  6. Reinforce the case for change<\/li>\n<\/ol>\n

    You might want to look to an outwardly successful organization to determine what metrics to use for data collection, but it\u2019s not something you can borrow. Benchmarking metrics need to be specific to your business size, type, and your leadership team\u2019s prioritized goals. For instance, a startup and a company in consolidation mode will have different metrics for success. However, where to find this data will be similar across company sizes and industries.<\/p>\n

    Most data collection will relate to your company\u2019s facilities, as the workplace is a business\u2019s No. 1 fixed cost. You\u2019re not simply looking at rent or purchase price, but how that cost projects onto each employee and how well you manage and use your current space. The space where your teams work has a substantial impact on the productivity as it relates to what you\u2019re spending on that space.<\/p>\n

    Data collection should begin with the workplace cost per employee: add the cost of all inputs\u2014real estate, furniture, utilities, maintenance, etc\u2014and divide by number of employees. That gives you a break-even number per employee. If the figure is below revenue, it\u2019s safe to assume you have a facilities problem. But what problem?<\/p>\n

    You may be paying below-market value on physical space. Benchmark analytics can help determine why you\u2019re not breaking even or exceeding workplace cost per employee. Using a Workplace Net Promoter Score (NPS), a survey that\u2019s often used to gauge customer satisfaction<\/a> but here looks inward to employees, will engage your team in making sure their workplace works for them. Scored on a scale of 1-5, these surveys can ask any number and types of questions about employees\u2019 work as it relates to the workplace (and can be used as a model for other engagement surveys).<\/p>\n

    Responses to the following questions will, when considered together, illustrate how well your facility performs:<\/p>\n