CoreNet Global's New York City Chapter Workshop Examines Benchmarking and the Workplace Environment

At a recent workshop held by CoreNet Global's New York City chapter, a team of panelists discussed benchmarking in the workplace, stating that understanding space needs and efficiency is a key step for companies looking to improve overall performance. Speakers included Gagan Singh, vice president, Goldman Sachs; Pat Pryor, executive director, UBS; Kevin Frankenberger, real estate manager, Marsh & McLennan; and Peter Holland, Benchmarking Services, CoreNet Global. According to the panelists, employers today are coping with several challenges, such as a mobile workforce, motivating current staff, and attracting new employees, while creating dynamic work environments with appealing amenities that are not cost prohibitive. These employers need to consider several factors when benchmarking, said the panelists, such as the area of measurement, the number of employees and available seats in a given space, and specific costs. In addition, the real estate departments of today's companies need to work closely with their management, human resources and I.T. departments to best determine how space can be used most effectively. Ultimately, a company's business strategy has a direct impact on its space selections; the real estate department must be flexible enough to conform to the needs of the business and select spaces that reflect a sense of purpose, autonomy and camaraderie.