Today, office utilization rates have decreased significantly due to a number of factors. Like most businesses, you’re probably looking for ways to enhance your office utilization in order to cut down costs. Before you make any adjustments to your office, you need to determine how efficiently (or not) your office space is holding your staff. You can determine this by measuring your current office utilization.

Whether you have a traditional closed floor plan office, a wide open undefined space or a hybrid of both, you still face the same need to optimize your office utilization. Getting more work done by more people in less space saves money and enables you to make the right real estate investments. Here are some tips that will work to squeeze more performance out of all of your locations, regardless of their layouts.

With the new year here, many parts of your business are undergoing an end of the year review. Your CRE portfolio is no different. Here are five things that you should do before the ball drops in Times Square.

When your company's office utilization drops, you'll probably find that you have unused space. Whether you have a portion of an existing office sitting vacant or you vacate entire locations, the carrying cost for the space is a drain on your bottom line. Finding a subtenant stops the red ink. However, finding the right one isn't always easy.

Nothing can damage the financial performance of your corporate real estate portfolio more than unused and unnecessary space. Whether you're looking at a too-big space that needs right-sizing, or carrying leases on locations that you've vacated, mitigating your losses by finding a subtenant should be a top priority for you. With a little bit of effort, you can usually cut, if not eliminate, your rental expenditures.

Office space is usually one of a company's largest expenses. At the same time, it is also one of the most underutilized resources that many companies have. Understanding your company's office utilization requires two different calculations. After looking at how efficiently your space can hold your team, you can then analyze how your team uses it and how it serves your team.