W103: Alternative Working Arrangements (AWA) Post COVID-19: A Cost-Benefit Analysis (FOS: HR)
Wednesday, July 21, 2021: 10:30 AM - 11:20 AM
Description
As employees return from the COVID-19 shutdown, organizations are looking for ways to reduce liabilities and spending through AWA. Find out how fewer days in the office for the workforce can translate into cost savings and efficiencies per square feet of occupied space.
Key Take-aways
In theory, AWA policies can reduce agency costs and provide benefits for personnel. Agencies can achieve cost savings by: |
- Consolidating office space with AWA for lower rent, energy, and maintenance costs.
- Using methodology to calculate the $ per SF/FTE costs to determine potential savings.
- Reducing overtime expenses
- Decreasing operational costs by reducing leased space, energy usage and service contracts.
- Lightening the burden of security, maintenance, and custodial service contracts.
- Boosting employee recruitment, retention and morale.
Learning Objectives
Using current information, examine the potential cost savings of an AWA approach through reduced square footage. Learn how to calculate potential cost savings per square footage reduction. Also, learn how to normalize square foot/full-time employee (SF/FTE) by consolidating agencies' current workspaces.
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