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The workplace has been evolving at a rapid pace. There are debates swirling around social media, the board room and even the water cooler about whether an open-plan office is the best route to take or a mixed plan with some offices and some open space is superior. Whatever direction you’re thinking about moving toward in your office remodel, ask yourself these four questions first.
What kind of space do I want?
Since I’ve already eluded to this, let’s start here. Are you thinking about having an open floor plan with a mix of private offices? Maybe a space with more of a modern flair with an open ceiling and upgraded finishes? Should the kitchen be the central gathering area or should it be the traditional big conference room? What about amenities? Do you want a fitness center, yoga room or even a game room?
There are myriad options for you to choose from. Like any important decision, you should start with research and information gathering, so your space has the greatest impact moving forward. Which leads us to our next question:
Who should the space benefit?
When designing your space, keep in mind the people who work in it should benefit. For some tenants, the space might be for their clients — for example, you might be a wealth management firm that hosts daily meetings with high-net-worth individuals. If that’s the case, your space should probably give the impression of a high-end company with upgrades like marble tiles, glass inserts, the works.
If your space is designed for your staff, make it a fun, collaborative and productive environment. Further, take into account what generation sits in your office. If staff are mainly millennials, cater to them. If they’re Generation Xers, cater to their needs. And if they’re a mix, have a little bit of customization for each group so everyone feels comfortable with their workplace environment. This should pay big dividends by making the office a productive place for everyone to bring their A-game to work.
Is the disruption worth it?
If you’re going to renovate your existing suite, there will be disruption — you can count on that. There are plenty of ways to mitigate the disruption, but it is inevitable. The temporary pain could very well be worth the payoff, but rather than commit, do your research first. There may be other great office options in the market that you can move to. There are many potential benefits here, like a brand new space, updated technology, cheaper rental rates, better buildings, more efficient spaces, better amenities, etc. Although moving will also cause a disruption, the pros might outweigh the cons.
Who’s paying for it?
This may be the most pressing issue. If you’re going to renovate your space, there’s a good chance that you’ll have to pitch in and pay for most of the construction. If you’re renewing your lease, you might be able to negotiate a better tenant improvement allowance with your landlord where they pay the bulk of the construction costs. Compare that to the cost of moving, where some buildings will incentivize you with more tenant improvements dollars as a way to win your business.
The answers all lie within your situation. For some, moving is a no-brainier, and for others, renewing the lease and renovating the space makes more sense. Your workplace has a tremendous impact on your company’s morale, mental and physical health, ability to attract and retain talent and more. Put your team — your real estate advisor, designer, furniture vendor — in motion, and start asking these questions so you can make the best decision for you and your company.