As homeworking becomes the norm, the Royal Pharmaceutical Society (RPS) has been re-evaluating whether it needs to hold on to its current office space in east London or if it could lease out some floor space at East Smithfield.
“The pandemic has proved we can work remotely in different ways and continue to be efficient and effective in providing services to members and customers,” the RPS said in a statement on Monday.
I said income generated by any much means will be reinvested in developing the valued products and services of the Society.
Hence, the RPS is now pro-actively re-evaluating the use of its office space. Currently it is offering the space at East Smithfield property on lease.
Sandra Gidley, RPS president, said: “In a changing environment, it is important that the Society adapts and evolves. Members want us to focus on putting pharmacy at the forefront of healthcare. By looking at alternative income streams that provide us with additional revenue, we can do more work to advance our mission.”
Paul Bennett, RPS CEO, said: “One of the best ways to enhance our financial sustainability is to make sure we are organisationally effective. Members would expect us to be looking at options, to see how we can make the most of the assets the organisation holds.
“However, there are a number of principles which are equally important. Firstly, I cannot conceive of a time when the RPS wouldn’t have an address that members recognise as the home of pharmacy.
“Secondly, we are committed to ensuring that the objects and history of pharmacy are promoted and accessible. It’s important to note any income derived from renting space at East Smithfield would be additional revenue – and be reinvested into further developing our valued products and services.”
Members will have an opportunity to find out more about the RPS’s future strategy at the AGM in May.