How can facility management impact employee productivity?
Question: How can facility management impact employee productivity?
Answer: With estimates of the costs of hiring and training a new employee ranging from 25 percent to 200 percent of the employee’s annul compensation, keeping top performers happy yields quantifiable cost savings for banks. And those figures don’t include the difficult-to-estimate costs of customer service disruption, and loss of experience, continuity and corporate memory.
Employees’ working conditions – including their physical environment – can play an important part in supporting productivity, and even in reducing absenteeism and turnover. In other words, it can pay, quite literally, for banks to make improvements to an employee’s physical environment (for example, controlling indoor temperatures, increasing sunlight and improving indoor air quality) that promote satisfaction and productivity.
In order to improve the work environment across a diverse building portfolio while avoiding wasteful expenditures, retail banks need to be able to answer questions such as:
Are we providing an environment that is conducive to overall employee productivity?
What are the special physical space requirements of different job roles?
What changes do we need to make to improve the work environment, and what will they cost?
How do we define our criteria for workplace investments, and how can we effectively prioritize projects according to those criteria?
VFA Boilerplate
Headquartered in Boston, VFA, Inc. is the leading provider of end-to-end solutions for facilities capital planning and asset management. VFA’s Capital Planning and Management Solution (CPMS™) uniquely combines facility assessment services, Web-based software, and business consulting services to enable clients to manage every stage of the capital asset lifecycle—from requirements gathering and long-term planning to capital budget creation and spend management. VFA has helped over 300 organizations including super-regional and global banks, to strategically manage more than two billion square feet of real estate. For more information, please call 800-693-3132 or visit http://www.vfa.com. Download VFA’s Free White Paper: Managing a Retail Bank's Facilities for Competitive Advantage.
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