Major Financial Services Client
Occupancy and Workplace Planning
Vestian was selected as the optimal solution to better centralize, optimize and manage real estate and facilities and allowing the client’s Head of Shared Services to focus on core business responsibilities. This specific engagement was to develop and implement a sustainable workplace strategy that enhances organizational performance and drives the culture. Vestian also sought to identify the long-term needs and optimal footprint for physical office space.
Build rationalization for required office locations by functional groups with significant insight from the relative leadership teams. Led Remote Work Study with 8 separate focus groups consisting of business leaders and supporting human resource business partners.
The future vision survey findings suggested that the client could remarkably reduce the real estate footprint and underlying real estate costs while enabling long-term success through a strategic remote working strategy. Specifically, the survey’s key findings include:
- 17% of employees require assigned desk space
- 83% of employees will work ‘flex’, most requiring space no more than 20% of week
- Initial objective of at least 30% reduction in required space. 40% was Vestian’s final recommendation.
Developed remote work survey and evaluation of how and where people want to work
Aligned remote work desires with leadership and productivity/collaboration objections
Recommended foot-print reduction of over 40% current size
$5-7MM annual savings identified on real estate expenses
Reduction of 13 to 8 locations
Survey identifies that 50% of employees could and would work remotely. This is a significant increase from nearly no remote workers prior to COVID-19.Click here to read more about our work for this client