Office downsizing can be a tediously lengthy process. Some businesses may downsize to a smaller office space to reduce expenses, while others may move closer to corporate partners or job markets. Whatever the reasons, these moves need careful planning.
Office relocation can have many benefits, ranging from cost savings to increased worker satisfaction. To make sure the downsizing process is seamless, we have compiled a list of the four common mistakes to avoid when you decide to downsize your office:
1. Failure to Establish Current and Long-Term Priorities
The single biggest mistake an organisation can make when looking for office space is not deciding on current and long-term priorities. This is because it exposes you to make decisions based on short-term needs rather than what is profoundly important.
For example, even if you need a place to house your expanding team, you might go for a smaller office space simply because it is less expensive. However, if you want to expand your business, you must consider factors other than price, such as technical requirements, customer experience, space layout, budget, growth, and so on.
2. Failure to Look Beyond Traditional Alternatives
You want to find the best-serviced office space for your company while staying within your budget. However, many people are tempted to accept a lower-cost offer, believing that this is the best choice. Many choose a traditional office set-up because they are either unaware of alternatives or are too risk-averse to try them.
Consider the difference between a traditional office lease and a flexible serviced office lease. A traditional office will bind you to a long-term lease, for years. What if the space is not suitable for your business or you dislike the property owner? You are stuck until your lease expires. Breaking the lease early usually comes with a hefty penalty that will undoubtedly blow your budget.
Hence it may be prudent to consider co-working spaces and hybrid working arrangements.
3. Failure to Consider all Expenses Associated with your Office Space
Yes, office space excites business owners so much that they do not consider the costs associated with the space. They only look at the rent and believe that is all they must pay, but this is not the case.
When you are downsizing your office space, you must also consider the extra costs such as utilities, amenities, and maintenance costs, which affect the total cost. If you intend to use a coffee machine, you must pay for it separately. In addition, if you intend to bring other office equipment into the office, you must factor those costs into your business expenses.
4. Failure to Calculate Office Space Accurately
Miscalculated square footage is one of the primary reasons that most businesses these days are wasting office space or cramping their employees in a crowded space.
It is understood that when looking for new office space, you must consider your company’s growth, as you may need to hire a few more employees in the future. However, calculating it without a proper base can lead to errors such as having more desks than you need. It is just a waste of space, and you will have to consider subletting it.
Always keep in mind that the ideal workplace space for an employee is 100 square feet on average. You must correctly calculate the amount of space needed for your employees considering the company’s growth. While downsizing, keep your storage space to a minimum. To help in the process, consider renting a self-storage unit for both the long-and-short-term downsizing to keep less used items like documents or equipment.
Moving an office can be difficult, but it does not have to be. If more companies avoid these common blunders, the process will be much easier, faster, and less expensive. It all begins with understanding what not to do. Many of these errors can be avoided if you can plan of time and thoroughly. Office relocation can be minimally disruptive if carefully planned.
