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How Can Benchmarking Help YOU?

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How Can Benchmarking Help YOU?

Just as Western markets are released from COVID-19 restrictions, a plethora of geopolitical, cultural, and fiscal challenges emerge. This is not the new normal that heads of workplaces and facilities were promised. How will your plans and priorities adapt? 

It is no secret the COVID-19 pandemic changed everything we once saw as normal in the workplace. Since the start of the pandemic in March 2020, we have seen a massive digitalization in every industry.  

Over the past two years, many companies have closed office locations or downsized due to the rise of hybrid and remote work environments. These major disruptions were issues no one was able to prepare for, as it has challenged where we work and the way we work. 

Heads of workplaces and facilities have had to rethink their strategies, now including everything from health and safety of employees to the work-life balance and improving ESG practices. The five-day traditional, in-person work week almost no longer exists as we have seen the shift from office spaces being used for heads-down desk work to solely a collaboration space that Zoom and other technologies can’t replace. In-person work has also decreased due to climate risk and carbon emission laws as building construction accounts for 40 percent of global CO2 emissions

Companies must care more about the needs of their employees than ever before as safe and sustainable work practices aren’t negotiable. ESG is now a high concern for businesses as it is seen to increase diversity in the workplace and have a positive impact on our world. Integrating sustainability practices into company policies is important as we must reduce carbon emissions. 

While the future of the workplace is still uncertain with the potential recession looming, companies need to prepare for what is to come. We have already seen the cost of everyday goods and services increase but what will it look like for your business? 

The recession is set to affect the vast majority and businesses will see a decline in profits and sales. Companies will have to cut costs in spending, research, marketing, and more, to come out of the recession successfully. We saw many businesses forced to shut down and lay off mass amounts of employees during the COVID-19 pandemic and we can predict that will continue due to the recession.  

Now is the time to experiment with your existing office space and learn how to implement these new practices while preparing for the economic challenges businesses will face in the near future. But, how do you know if your business is cutting costs in the right places? Through benchmarking. With our world rapidly changing, it’s important to measure new metrics for continuous improvement while preparing for what is to come.  

Try benchmarking with our limited-time offer on BenchCore. We’re offering RefineRE’s peer-to-peer benchmarking module for $5,000/year. You won’t want to miss out.  

Schedule a consultation with RefineRE

Here's what you can expect:

    ‣ A 15-minute call
    ‣ Identify your biggest challenges
    ‣ Explore automated solutions to optimize your strategy