9 Signs It’s Time for New Office Space
If your company is struggling to increase productivity and acquire new business due to structural reasons, you might need to update your office. Below are some red flags that indicate it’s time to invest in a change before declining productivity and business deals lead to lower profits.
1. OVERCROWDED / LACK OF SPACE
Is your office space starting to feel overcrowded? If you’re starting to notice shared desks, crammed conferences rooms, and overflowing storage closets, this may be your problem. Another sign of this is if you often schedule offsite meetings because there’s just no room to meet in your office. Also consider the outside of your building. Are there any open spaces in your parking lot? Imagine how embarrassing it will be for prospective clients to visit your office and not be able to find a parking spot. This lack of space also makes employees feel like sardines stuffed in a can, which leads to frustration and a decline in productivity. Unsure if this is really a concern? Request feedback from your employees through a survey to get the best insight on your space situation. Also consider your business plans for the road ahead. Will you be doing a massive workforce expansion in the near future? Make sure your building can handle it without getting overcrowded.
2. OUTDATED AESTHETICS / INFRASTRUCTURE
The visual aesthetics and functional infrastructure of your office space says a lot about your business. If your office looks shabby, prospective clients or customers who visit your building might get the impression that “business is bad.” Or they might think your company is cheap and willing to take shortcuts to save a buck. Quick fixes might just include a fresh coat of paint or the replacement of buzzing fluorescent lights. However, if the underlying issue requires a major system solution, this might be better addressed in a new building. For example, if an energy problem is causing higher bills, modern infrastructure in a new building might lower your utility bills from the start.
3. UNMET BUILDING CODE REGULATIONS
If you purchased or are leasing an older office space, it might not be up to commercial building standards. You’ll want to avoid fines, penalties, and nagging officials who will pester you about your unmet building codes.
4. EMPLOYEES FEEL COLD
If you start to notice that your employees are often keeping sweaters, scarves, jackets, and even blankets at their desks, it may be a sign that your building needs a new HVAC system. Replacing a commercial HVAC system can be costly. Decide if it’s worth the cost or if the rest of the building suffers from other concerns that would make getting a new building the more efficient option.
5. BUSINESS IS CHANGING
If your business is undergoing significant changes, they’re likely to influence operations and structure. Many companies are moving away from cubicles and towards wider open space to encourage collaboration and communication. As companies change like this, space changes may be required to keep up with new working styles and tasks. The same goes for technology. If your company now requires a large production printer, but never had the space for one before, just plopping it next to an employee’s desk is going to cause problems. If new technology or workflow changes the way your company does business, but your office space can’t keep up with the changes, it’s time for a change in building.
6. EMPLOYEE MORALE IS LOW
Can you tell when your employees are bogged down? Working in an outdated office space might make employees feel uncomfortable or unmotivated, which drags down productivity. A change in building could reset the company culture and create new habits for teamwork and productivity to thrive.
7. NOISE COMPLAINTS
Do your employees comment on noise problems, such as annoying echoes, loud neighbors, or nearby construction work? Employees need a private area to work in peace, free from distractions. A solution might require soundproof renovations or an entirely new location.
8. LIMITED REMODELING OPTIONS
Some of the above issues could be resolved by remodeling. However, the building shape or way your floor is structured might be a roadblock that requires you to relocate to an entirely different building.
9. POOR LOCATION
If your current building isn’t in a central location, with easy-access to highways, the airport, and amenities, you might face a challenge acquiring new talent or clients.
READY FOR A SOLUTION?
We hope these signs have helped you confirm whether or not it’s time to get a new office space for your business. If you’re convinced a new building is right for you, follow the link to consider commercial real estate construction options. Or, if you think leasing a new space is your best bet, view our available properties.