November 29, 2004—IFMA’s new Benchmarks IV study shows a significant rise in the cost of security. While the mean cost per square foot was reported at 96 cents in 1994 and 95 cents in 1997, the new report shows the cost is now $1.16. This is attributed to reinforced security and supplemental staffing costs that have been escalating since the terrorist attacks of 2001.
Museums rank as the most expensive facilities to secure at $2.30, followed by call centers at $1.73 and computer centers at $1.66. Headquarters rank somewhere in the middle at 87 cents per square foot. By industry, federal facilities rank highest at a cost of $2.09 per square foot, while religious facilities are the least expensive at 32 cents per square foot.
Some of the other changes since the previous 2002 benchmarking report included the types of projects reported (with a 29% decrease in the number of move-related projects) and employee amenities.
Regarding employee amenities, in today’s downscaled economy, the emphasis is on providing amenities that support a more positive work/life balance (versus amenities such as pet daycare and video games); examples include cafeterias with take-out service, ATMs, and back-up childcare services. There are a varying degree of subsidies, depending on the amenity. Those that were the most fully subsidized were libraries (60%), lounges (49%), fitness centers (43%), and parking/transportation assistance (38%). Cafeterias were 63% partially subsidized, and day care was 44% partially subsidized.
For more information, contact IFMA.
