Crucial to business success is a productive headquarters where the heart of your organisation lies. Determine whether your office space creates a positive, thriving environment for your teams to work effectively. To help guarantee a bright future for your business, you have one of two options: an office refurbishment or an office relocation.
Determining what is best for your business can be a challenging task. While there is no right or wrong answer, this blog lists several benefits for both staying and going to make your decision process as simple as possible.
Office Relocation
Moving out of your current space, whether it’s due to a lease expiry or needing adequate room following business expansion is referred to as an office relocation.
Business Growth
Are you working in an outdated office? Do you need to hire more staff? Are you lacking up-to-date facilities? It is vital to consider if your current space is holding you back, opting for an office relocation is a great way to accommodate company growth as well as support any future business change. Moving to a larger office can create a more spacious environment with improved amenities and in some cases, a better location. Often, brand-new buildings provide improved technology and modern facilities such as gyms, wellbeing rooms, large greenspaces, and bike stores.
Relocation can initially harm business performance, with change often comes anxiety and disruption. However, moving to an environment with increased space can ensure productivity in the long term, improving the opportunity for future business success. The industry recommendation for office space is 110 sq ft per employee, if your current office has limited room relocating may be your best option. Working out your current headcount vs available sq ft can help decipher whether an upgrade to a larger building could be worth the investment.
Reinvigorates Employees
In some cases, staying put in your current office space creates a sense of familiarity within employees. Although, often maintaining a thriving company culture can be difficult in an outdated or cramped environment. Moving to a more central location can provide proximity to a wider customer base and attract a larger talent pool, both enhancing business performance.
Importantly, relocation is also a chance to put employees at the heart of the office design with layouts that enable connectivity, collaboration and improved productivity. A brand refresh is often a way to reinvigorate employees who may be drifting away from the original company culture and business ethos.
Consider if your current space is up to date with your brand image, company values and future planning. If it lacks potential, it is worth investing in a relocation.
Adapt to Hybrid Working
Are your employee’s making the most out of your existing office? It may be worth consolidating your space to consider if your workforce could be more efficient elsewhere. Opting for an office relocation is a great way to optimize your office space and motivate the workforce in the long-term.
Since the rise of the hybrid working movement, organisations have re-evaluated their office space. In a recent article by Forbes, they predicted that ‘the hybrid work model has been forecasted to rise to 81% adoption’ driven by the younger generation. With a shift to remote working, it may be that your workplace has surplus space with reduced occupancy rates. Therefore, moving to a smaller space with a more efficient design could considerably reduce your property costs.
Typically, relocation is a large investment for your company, however the benefits of a workplace that utilises its environment can encourage a company culture that drives business success as well as long term savings.
Office Refurbishment
Does your office space still work for you? Have you got room to expand your workplace? Do you have the option to extend your lease? Or negotiate new terms? Planning to refresh your existing space, but opting to stay put in your current location, refers to an office refurbishment.
Employee Retention
The post – pandemic rise in hybrid working means attracting employees to the office can be difficult. An office refurbishment is a great way to implement modern, long – term design changes which create an attractive headquarters for your staff. Prioritising employee needs during your decision to refurbish or relocate helps to decipher what works best for your business.
Office relocation can cause uncertainty in the workforce, due to the inevitable disruptions in daily routine including longer or more expensive commutes and unfamiliar surroundings. Opting for an office refurbishment removes the unease that moving office evokes in many employees and reduces the risk of people using this process as a chance to look for other job opportunities.
Less Disruption
Office refurbishment unlocks new potential for your business providing an opportunity to remodel your current space and produce a fresh look. This process simultaneously prevents any disruption to business productivity, as team members remain comfortable in their current environment.
The difference in cost between an office refurbishment or relocation will vary depending on the requirements of your project, however refurbishment can more easily be kept to a budget without the hassle of moving. There will be no need to implement new IT systems or negotiate a new lease with a suitable landlord. Often the fit-out process occurs outside of working hours over weekends or at nights, also reducing disruption for employees.
Alternatively, opting for a relocation can mean finding an energy efficient building which can save heating and electricity consumption costs, especially if you are downsizing to reduce surplus space. Consider if your current office may be holding you back by conducting a cost benefit analysis, you can then determine more clearly if moving is worth your investment.
Customises Original Space
Keeping productive work environment begins with understanding the people who make up your company. Before making any decisions, why not ask your staff how they really feel? If your teams are discontent in a space which may be tired and outdated, even a low-cost cosmetic change can have a significant impact on employee morale.
The heart of your company culture often lies within the place where you have grown your business. Customising your original space can keep your company culture alive while also updating your design. Reconfiguring a layout that promotes social interactions, teamwork and relationship building is a great way to keep disruption at a minimum. Alternatively, doubling up with a brand refresh, introducing new colour schemes and updating IT systems is an effective way of fostering positive change for your team.