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Operations managers know—one of the biggest expenses associated with keeping a business running is the cost of office space. 

And with the increasing mobility and flexibility of the workforce as well as rising rent prices, it’s getting harder yet more important than ever to understand and drive down the cost of utilization. 

So without further ado, let’s delve right into the true cost of poor office space utilization as well as the key metrics to track to boost utilization and improve the ROI of office space. 

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Perhaps there is no more iconic picture of the modern office than of the wide open space, rows of desks arranged together, surrounded by fashionable Scandinavian furniture, hordes of millennials banging away at their keyboards wearing their high-end headphones. Large windows and all white everything keep the space light, airy, and up to the expected aesthetics of modern design. Maybe throw some plants in for good measure. While we’re at it, sprinkle in a couple well-behaved dogs, a work BFF, and a dozen flannel shirts and VOILA! You have the modern open office space. 

As companies compete for the most talented employees, they have realized that it’s more important than ever for the physical office to reflect the modern culture of the company itself. That means the dreaded cubicle farm is a thing of the past. Companies are breaking down walls and opening doors in an attempt to foster conversation and creativity, enhance relationships, and promote transparency.