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Not all real estate savings are created equal. To help decision-makers determine where cost savings will be most valuable, Jones Lang LaSalle (JLL)—a global professional services company specializing in real estate—established the 3-30-300 formula. The premise is that there is an average order of magnitude for a company's cost per square foot—$3 in utilities, $30 in rent, and $300 in payroll.
A 10% increase in energy efficiency translates to a $.30/sq ft cost savings. A 10% reduction in rent yields a $3.00 cost savings. However, a productivity improvement of 10% equates to $30/sq ft of value.
This formula demonstrates why changes to the human experience has the greatest impact. Watch the video to learn more.
AVI-SPL is a JLL Synergy partner, the only one dedicated to meeting solutions technology. When working with JLL for your office space, turn to Synergy partner AVI-SPL for best practices in workspace design, meeting room solutions, and technology lifecycle management.