Occupancy rate
What is it?
The key figure shows the percentage of total work hours that have been logged or recorded in relation to the total number of work hours available during a given time period. It gives an indication of how effectively and completely the workforce is utilized in property management.
A high utilization rate value indicates efficient use of labor, while a low value may indicate underutilization or inefficiency.
How is it calculated?
Number of logged hours for resource(s) / Number of scheduled hours for resource(s) = %
* Includes only hours that was logged within specified period. * Shows an average for all resources as the key figure does not show resource by resource.
Why is it important to follow?
One should follow the key figure for the following reasons:
Efficiency: The occupancy rate provides insights into how efficiently the workforce is utilized in property management. By following this key figure, one can identify periods of over- or under-utilization of labor and take measures to optimize the work flow.
Resource Allocation: It helps property management to effectively allocate resources and personnel. By having a clear picture of the employment rate of the workforce, you can plan tasks and schedule the workforce more accurately.
Cost savings: Effective utilization of labor can lead to cost savings. By avoiding excess labor in low load periods and ensuring that the labor is sufficient during high load, labor costs can be optimised.
Service quality: A high occupancy rate can indicate that property management has the capacity to respond quickly to service requests and maintenance needs, improving service quality and customer satisfaction.
Early detection of problems: By monitoring the occupancy rate on a regular basis, problems that may affect the work process, including possible staff shortages, can be quickly detected and action taken in time.
In summary, the key figure is important for optimizing labor resources, improving efficiency and reducing costs in property management. It helps ensure that the workforce is used efficiently and productively to meet service needs and maintain high quality in real estate operations.
Created by Homepal
8/31/2023
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