The importance of an office for your business

Since the emergence of co-working spaces and companies that are more open to remote employees and virtual meetings, there have been many discussions and debate whether companies still need an office space in order to function and operationalize. While the flexibility of a virtual office is favorable for many, some businesses still benefit from having an actual office space-not only for the company but also for its employees as well.

Numerous reports and studies have proven that there is a significant relationship between physical space and business performance metrics, productivity, and overall employee experience. In Gensler's Workplace Index, four key areas in an office space were identified that employees need: a space to focus, collaborate, learn, and socialize. Additionally, factors such as lighting, functional space, and equipment can also affect their efficiency and motivation at work.

An office can also cultivate company culture and exude company branding. In fact, an office space is one of the endemic ways a company communicates its essence to its clients, investors, and future employees. While a company's identity and culture is not made up of tangible factors, research suggests that factors affecting an office space such as interior design, architecture, etc. can influence or even change an organization's culture.

Considerations in finding an office space

Given the importance of the office space for your company culture, brand, and employee productivity, there should be many considerations made before choosing an office space:

Workplace Design

One of the immediate factors to think about when selecting an office space is its capability to be converted into a workplace design best suited for your company and business. Many office studies have proven that this in fact contributes to innovation and productivity of the employees and the company itself.

Location

The location of your office should also be one of your top priorities. Ideally, it should be convenient for your employees and clients as well, giving them easier access to public transport, food, and other amenities.

However, choosing your business address may vary depending on what your company offers-a company that deals with high-end clients may be well suited to established business districts while retail businesses may be located better in a local neighborhood. You can also consider your distance to your competitors, or proximity to your partners.

Lease Rates and Terms

Business owners should also consider and examine lease terms thoroughly. While there may be many factors that contribute to the leasing rate of an office space, companies should be knowledgeable of how expensive or cheap leasing a space should be.

Building Infrastructure and Facilities

More than the office space, you should also consider the building infrastructure itself, its facilities and amenities. What it can offer can determine the sustainability of your new office space, as well as your business.

Finding the best office space for your business can be challenging and overwhelming. At the end of the day, your goal should be choosing one that reflects your company values and culture, provide for your needs, and support your goals.

Need help in finding an office space for your business? Contact Karen at 403-5509 or thru info@kmcmaggroup.com.