Managers today need the ability to measure the success of projects they undertake. KPIs, metrics and data are all buzzwords you commonly hear in discussions with managers about their short and long term goals. But what about office move metrics?
In the days and weeks following an office move, your company needs to form an understanding of the move’s impact. Obviously, you can’t undo an office move if the office move metrics aren’t where you want them to be. But you can use them to identify areas of concern across the business and adjust accordingly.
Here are four key office move metrics your team should keep track of during and after your next office move.
1. Employee Satisfaction
Your business can’t function when employee morale is unusually low. When team members become disillusioned with the direction they believe their employer is headed, they can soon start to just go through the motions during their work day rather than truly adding value to the business.
Needless to say, addressing a downturn in employee satisfaction in the critical days following an office move is crucial for the health of your business. About two weeks after an office move, your management team should distribute a survey with the goal of understanding how team members are responding to their sizable change.
The survey should include both qualitative and quantitative data concerning employee likes and dislikes with the new facility as well as suggestions they might have to improve the experience for everyone.
You might want to consider creating a digital survey through a service such as Google Forms or SurveyMonkey. This will help you avoid losing any surveys and needing to transfer all of the data from a paper survey to a computer.
2. Business Downtime
It’s nearly impossible to maintain normal levels of productivity during an office move. Eventually, you’ll need to make up for lost time.
At the most basic level, business downtime equates to a loss in sales revenue. If you can’t provide customers with the goods and services at the speed and ease to which they’re accustomed, you won’t bring in as much as you normally do.
It’s difficult to predict with certainty the amount of downtime your company will incur during an office move, but you do have some tools at your disposal. Assuming you created an office move plan in advance of the move, you should be able to generate a rough estimate of the amount of working hours lost over the course of the moving project.
From there, you can Expedient’s downtime calculator, which is typically used to calculate loss in revenue related to IT breakdowns and servicing, to give you an idea of how much revenue you should expect for your company to miss out on.
3. Supplier Spending
In the past, we’ve mentioned how office move costs can add up if you fail to diligently factor them into your budget. Sometimes, however, a move can lead to tremendous savings in the long term.
Let’s imagine your office is currently located 100 miles away from one of your key suppliers. As you begin researching new office facilities, you find one that’s only 25 miles away from this same supplier. In some cases, the supplier might be willing to renegotiate your shipping contract since they are now incurring fewer costs as a result of the shortened distance between your two facilities.
This, of course, doesn’t account for proximity to the factory’s competitors, which is another major factor in any shipping contract. It’s also worth mentioning technology reduces the costs previously associated with distance between the customer and supplier. But it does give you an idea of the potential benefits of locating your facility close to your supplier. In any case, make sure you closely monitor reductions or increases in costs related to the distance between your company and all of its suppliers.
4. Employee Turnover Rate
Employees are the backbone of your company and its culture. Losing too many of them in a short period of time can be devastating to your business.
We mentioned earlier in the article the toll a move can take on your team members and how important it is to take a temperature check in the weeks following a month. Downstream from general employee morale is turnover. If your company doesn’t take the time to monitor how employees are reacting to the move or fail to intervene after receiving alarming survey results, you may begin to experience employee turnover.
Be sure to check your employee turnover rate after 90 days as well as after a year and two years. This should give you a sense of how well the move was received staff-wide and whether additional supports are needed to restore your company culture to what it once was.
Pairing your business with an office moving company dedicated to high quality service and transparent pricing is one way to minimize business downtime and promote employee satisfaction during an office move. Nodus Office Movers is here to help.
Contact us today for a free office move consultation!