We would recommend that on at least an annual basis, businesses should look at their buildings and estate and critically access if their buildings are supporting their aims by asking the following four basic questions:
1) Have you defined what value you want from your buildings, and how they will help you deliver your business strategy?
2) Do you understand the whole life cost of your buildings? And do you understand how this cost could be minimised?
3) Have you collected feedback from your customers, staff and other stakeholders to identify what buildings and estate issues may be impacting your business productivity and effectiveness?
4) Is your business working around your buildings, rather than having the building work for you?
For full details of our assessment questions, download our ultimate guide.
Most of us spend more than 90% of our lives in buildings. We have become so familiar with living and working in buildings, we can be oblivious to the impact they have on us. For this reason, many organisations do not track the return on investment they get from their building assets in the way they track their other assets.
Buildings can be designed, configured or re-configured to support organisational strategy and performance in several ways, improving their return on investment.
Typically, over the course of a building’s life, for every £1m of capital – or lease cost – spent on the building, a business will spend £5m on operating and maintenance costs and £30m to £200m on staff and other business costs. All too often businesses work around their buildings, rather than have their buildings work for them, but these numbers highlight the need to configure buildings to ensure they do not impede how people and businesses operate.
Your buildings impact your top and bottom lines. The top line is impacted by the way your building supports your customer interactions and your bottom line are impacted by the way in which your buildings impact your staff performance and productivity. When was the last time you collected measurable, comparable feedback from customers & staff about their opinions on the estate, which allowed you to identify areas for improvement?
In addition to adding value from your buildings, critically assessing operating costs and risks can significantly improve both the annual running costs and mitigate potential contingent liabilities, improving the medium and longer-term return on investment.
We at LCMB are lucky to have a unique blend of detailed technical, operational, energy and facilities management expertise, and we have driven major estate transformation programmes for many organisations. We created Our ultimate guide to improving business performance which includes a step by step guide to improving your business performance by pulling together our clients’ experiences, our expertise, and carefully selected third party resources.
Our aim is to help you ensure that your buildings and budget deliver the best possible impact for your business, your customers and your staff.
We have tried to cover as much as possible in our guide, but of course this guide only scratches the surface. If you would like more details on anything mentioned above or in our guide, or you’d like to discuss one of your estates challenges, please email us and we will get stuck into the technical elements with relish.
Download our ultimate guide to learn more or contact John O’Brien by email or on 01295 722 823 to discuss how our team can help you improve the return on investment you get from your buildings and estate.