10 Million Dollar Savings
Real Time Experience of how our Expert Managed this Facilities Consolation.
After merger of two large Corporates Globally, the Real Estate team in India has been tasked to identify and deliver $10M savings per annum on Facilities consolidation PAN India. The total number of employees were 50,000 spread across 10 cities and 24 offices. Time frame to complete the project was 6 months.
JEN SOURCE SOLUTION
- Listed down the various criteria for facility consolidation
- <100 employee facilities to be consolidated
- >10-Year-old facilities will be shut down
- Facilities to achieve 1.2 seat utilization
- Densification of facility to increase the occupancy
- Applied the above filters and identified the action to be taken
- Discussed with leadership team and obtained buy in for the overall plan
- Discussed with all stake holders (Business Head, IT, Legal, Procurement, Finance, Company Secretary, Treasury, Security, Task force of CEO) and explained the actions to be taken and fixed ownership and target date for achieving the assigned task/s.
- Individual stake holder to provided project plan, requirements, and estimated cost to achieve the plan
- Prepared a master plan for the overall project
- Projected the cost to achieve budget as well estimated savings and obtained Leadership approval
- Created a delegation of authority matrix to approve the project expenses
- Conducted weekly review meeting to resolve the concerns, issues, and clear roadblocks
Completed the targeted facilities consolidation in 6 months which has resulted in:
- Sold one facility
- Leased 1.5 Lakhs SFT of facilities, fit out done and moved employees
- Densification of 2 lakhs SFT facilities done at two locations and created additional 900+ desk
- Vacated 6 facilities of 4 Lakhs SFT and handed over to landlord
- Same 50,000 employees accommodated in 8 cities in 18 offices
- Achieved the $5 M cost savings for the rest of the half year thus achieving the set target of $10M per annum