Office space is a large sector of the commercial real estate industry. For many tenants, their office space needs change over time as business grows or slows down. Mike Kushner, President of Omni Realty Group recently published a blog post on RealMassive about office space. He discusses five clues that could mean you need new office space, such as lack of privacy, rent prices and company culture. Often times, tenants refrain from moving because of the inconvenience, but Kushner mentions that this could be damaging to operations. Read an excerpt of Kushner’s post on the topic below, then click the green button at the bottom of the page to view the full post.
It can be difficult to recognize the signs that your business needs a new office space. Maybe it’s the fear of change or the discomfort of moving all files, equipment, and employees to a new location. Whatever the hesitation, the consequences of not moving to a better functioning space can be far worse than the temporary inconvenience of relocating.
Take a look at these five clues that you might need new office space and think about how they relate to your own work environment.
1) You’re struggling to retain/attract talent
Is your turnover rate increasing? Are potential hires turning down your job offers? While many other factors contribute to these issues, don’t underestimate how your office space may be a part of the struggle to find and retain talent. People want to work in an energizing, fun, and inspiring environment. If your office space is crowded, disorganized, and in desperate need of repairs, it’s time to look for an upgrade or risk having talent walk right out your door.
2) There’s a lack of privacy
While it may seem trendy to have your employees work in one large, open space together, keep in mind that people need privacy, just as much as they need community, to get work done. If your office space lacks a private area for holding meetings or making phone calls – or simply a space where employees can go to work in silence for a few hours, it’s time to look for an office that provides a little more privacy…