New workplace ROI tool could put the value of strategic workplace and facility management beyond a doubt
The Institute of Workplace and Facilities Management (IWFM), Liverpool Business School and Workplace Unlimited have launched a tool that they say could make any doubt about ROI in the workplace definitely a thing of the past.
Despite overwhelming evidence that the design of a workplace impacts the health, well-being and productivity of its occupants, space and its design have remained on the wrong side of the value equation for many years. three decades. A lack of âreal-worldâ proof of its value has allowed a reductive ânon-essentialâ narrative to prevail over the profession in the workplace and facilities and its impact.
The Workplace Return on Investment, or ROWI tool, is a calculator for determining the impact of workplace projects on organizational performance. It was developed for use in high-level cost-benefit analysis assessments for new development or renovation projects to take this additional value into account, so that they no longer depend solely on cost.
The move comes three years after the Institute added the workplace to its name as part of an initiative to reposition the profession of facilities manager. Launching a new mission in 2018, the new IWFM is committed to helping the profession move from a cost center of little more than a cost center through the aggressive outsourcing culture of the 90s, to a super- value-creating connector that can help organizations achieve their strategic goals, including sustainability and performance improvement.
IWFM CEO Linda Hausmanis said: âFive years ago the Stoddart Review proved the workplace advantage to exist and today we have the ROWI tool which has the potential to demonstrate this advantage in real workplaces by real time.
âWorkplace and facility professionals know their own value, but until now the means to demonstrate their added value have been as elusive as the holy grail. Today’s post is an important step in removing doubts about their strategic impact once and for all and showing organizations the true impact this professional community brings.
Nigel Oseland from the ROWI project team said: âWe started this project knowing we might not find the final answer, but starting the process by exploring and gathering the evidence was just as important. We intended to solve the mystery around the challenge of demonstrating ROI in the workplace, and believe we have found a feasible and practical starting point.
âThe work has been very encouraging and with all eyes on the future post-pandemic workplace, we are delighted to publish our progress so far, so we share our findings, methodology and plans for the to come up. Most importantly, we want to involve the profession as it is only in the practical use of such a tool that its true impact can be understood.
To read the summary report, click on here. To participate in the ROWI Tool pilot project, contact us before December 17th by contacting: firstname.lastname@example.org.
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