Choosing a new office location is not just about getting bigger or smaller. It should be considered an integral part of your business strategy, just like setting prices. A move should aim to achieve your financial, HR, branding, and cultural goals, not just provide more space. In summary, relocating is a crucial element in the success of your business.
Many companies are adopting modern office environments. This is because modern buildings have impressive architecture and design and offer proven benefits to organisations and, in some cases, even improve their financial performance.
If any of the reasons below apply to you, obtain your office move checklist now to prepare for the move.
If the Property Is in an Unfavourable Area
If your office is in an unfavourable location, attracting the skilled workforce required to meet your business needs could become challenging. Although there are several ways to enhance your current office, relocating isn’t one of them.
Companies needing employees with specialised skills and technical expertise should also consider location important. Location can help serve the target market by being closer to clients, distributors, or competition.
If You Are Losing Clients
If your business is changing, your office should change too. Though a bohemian-style loft may be great for starting a company, it may not fit your new brand image.
Your office gives an impression of your team and work, so having an unprofessional setting can push away potential clients. Just as a non-profit holding a swanky address may not raise funds, your office should match your brand’s image.
If the Facilities Are Outdated
Do you think that your services and utilities are not trustworthy? They can cause problems that range from minor inconveniences to significant health and safety hazards for your employees and visitors.
To avoid any issues, ensure that your building meets all safety standards. If an inspection uncovers any violations, address them promptly or consider relocating.
If It’s Time, According to the Market
It is possible that you invested in a neighbourhood that is becoming popular and has an excellent real estate market. This means that you may be able to make a profit on your investment. You could update your facilities now in preparation for future growth, even if it’s earlier than planned.
Alternatively, you may have office space in the same neighbourhood, but the area’s gentrification has caused your rent to become too expensive. Even if you want to stay, moving to a more financially responsible location may be better.
If the Team Is Not Satisfied
If your employees are unhappy in their workplace due to ongoing construction delaying projects and preventing staff raises and bonuses, it may be time to consider relocating to increase productivity and happiness. Remember, happy employees are productive employees.
If You Are Not Allowed to Remodel Your Office Due to Your Contract
If you cannot negotiate minor renovations in your current lease agreement to improve your space, you should search for a new space to accommodate your needs better.
If You Want to Reduce Expenses
If you work in this industry, you might need to invest in new technology or marketing due to recent changes. This could be an unexpected cost, so you may have to reduce your expenses, especially if you own a small business. To do this, you could consider moving to a more affordable office to lower your rent and utility bills and maintain profitability.
If Size and Fit Are Not Appropriate
If your office space is too small or too large, it can negatively impact productivity. Overcrowding can make it hard for employees to focus, while unused areas in a downsized office can create negative energy. To improve productivity, find an office that is the right size for your company and can accommodate future growth.
Your office space needs to align with the beliefs and values of your organisation. If it doesn’t, relocating may be necessary. Finding an office that matches your corporate culture can help recruit and retain top talent, even if it means moving from the city to the suburbs or from an older building to a newer office complex.
To choose a new office location, viewing it as a strategic business decision is essential. Simply getting more or less space isn’t the only factor to consider. You should aim to meet your financial, HR, branding, and cultural goals through the move. In essence, relocating is a vital component of your business’s success.
Although challenging, relocating your office doesn’t have to be a negative or time-consuming experience. On the contrary, it can be an opportunity to revitalise your business, inspire your staff, and cut costs. Moving also allows one to assess your company’s values and how well your employees work together and communicate.
Changing your team’s work environment can boost morale, inspire proactive work, and create positive feelings toward the company.