The UK government’s failed experiment with “Trussonomics” over the last few weeks, has seen us go from a dash for growth with major tax giveaways to warnings. Our new Chancellor Jeremy Hunt has said that taxes will rise, and public spending needs to reduce. Now the PM has gone.

We are left with rising interest rates, energy cost increases and general inflation which appear to be weighing down current and forecast economic growth for the UK. Forecasts for the economy are predicting no growth, negative growth, or a recession depending on whom you believe.

This means that over the coming year, delivering better value for money, reducing costs, and reducing energy will become even more important for us all. This needs to be done carefully and in a way that improves, rather than destroys workplace performance and productivity. UK productivity gaps have been persistent and improving organisation productivity to at least the industry’s median levels – could add £71.6bn to the UK output in 2023 according to PWC.

Real estate is generally the largest cost category for most organisations after people, so ensuring you’re delivering value for money is always key. Workplace operation can positively or negatively impact our people’s performance. Research by the British Council for Offices has demonstrated that well-run workplaces, in terms of their indoor environmental conditions, can produce enough additional productivity to cover an organisation’s annual cost of property outside London, and 70% inside London.

This means if you are setting out to improve the value your budget delivers, or reduce your operational costs, you need to stop and think about the impact your actions will have on your people’s performance and productivity.

Our team have created our Top 10 tip for reducing your real estate costs, to help you with some initial ideas. Over the coming two months we will share our tips for optimising your workplace performance and for delivering a successful refurbishment. Contact me if you would like me to email you a copy when available.

If you are interested in these topics, you can also join us at 2 pm, Thursday 8th December our “Real estate cost and energy reduction strategies” webinar where our team will explain how to deliver better value for money, and reduce your real estate costs without impacting your people performance.

Good luck in coping with the aftermath of “Trussonomics.”

John O’Brien

Founder and Managing Director