Workspace Challenges
The last 5 years have seen more change in real estate portfolios and office design than the previous 25 years. As a result of COVID-19, there have been rapid changes in working models and staffing priorities. Maybe you work in facilities or HR. Perhaps you're a C-suite executive. If so, you're likely concerned about these changes and what they mean for your company.
Workspace consultancy can be very helpful to help your company optimise its real estate portfolio and people performance. In this article, we'll cover 4 of the most common and beneficial ways that workspace consultancy can benefit your business. By the end, you'll be able to decide if workspace consultancy is right for you.
Workspace Strategy
With so much uncertainty and noise surrounding the future of the workspaces in general, you may be unsure about the future of your own office. You likely have several different, even conflicting, opinions within your own company about what to do with your workspace. Given the amount of change in recent years and the economic uncertainty, this is understandable. However, doing nothing may be the riskiest option of all.
That’s where a workspace consultant can help. Using their experience, industry knowledge, and communication skills, they can work with you to create a long-term plan for your workspace(s). A workspace strategy is not just about an immediate stay-vs-go decision. It's about creating a 5-10-year plan for your real estate portfolio and office design plans.
There are 7 key elements of a good workspace strategy: working model, location & size, layout & environments, aesthetic design, technology, culture, and cost. To learn more about what is included in a workspace strategy and how to create one for your company, read this article.
A clear 5-10-year workspace strategy will ensure everyone at your company is aligned about what needs to happen. You may be able to create one on your own. However, a workspace consultant will be able to use their industry experience and knowledge of what works well and what doesn’t to make sure your strategy is as effective as possible.
Real Estate Costs
Real estate is the second highest cost most companies face, after staff. Most professional services companies spend 10-15% of annual revenue on real estate. Every company faces the challenge of balancing these two investments. Managing the costs of each without hurting the performance of either is a delicate balancing act.
If you were to focus too much on minimising real estate costs, this could lead to cramped office spaces with ineffective design, leading to low staff wellbeing, productivity, and retention. On the other hand, an imbalanced focus on staff performance could lead to unnecessary real estate costs.
A workspace consultant will be able to conduct research and analysis to give you the data you need to balance these competing goals. They'll also be able to draw on their experience to make effective recommendations. As a result, you can make sure you are keeping real estate costs as low as possible without harming the performance of your people.
Space Utilisation
There has been a huge shift in working styles in recent years. Staff now spend far less time working alone, and more time working in small collaborative groups. This means the traditional office environments of desking and meeting rooms are now much less effective than they used to be. However, many offices still have too much space devoted to these environments.
In addition, outdated design practices mean a lot of space is wasted in many offices. The average organization has 30-50% more real estate than it needs. This means you could be wasting more than 5% of your annual revenue on office space you don’t need!
A workspace consultant will be able to use a combination of space tracking software, surveys and focus groups to get the quantitative and qualitative data they need. As a result, they'll be able to recommend how much space your people need, and what environments that space should comprise. This will ensure not only are you not wasting space, but that the space you do have is used as effectively as possible.
Culture-Tailored Design
In an age of economic uncertainty, shifting staff priorities, and tight labour markets, attracting and retaining talent has never been so tough. If this is a problem your company has, your workspace has a crucial role to play in overcoming this. Your office must be tailored to your culture to maximise staff engagement and alignment.
A great workspace will create a good first impression and differentiate your company for potential recruits. It will also improve staff satisfaction and wellbeing, making it far easier to retain your current staff.
A workspace consultant will be able to work with your office designer to create an office that looks and feels like your company and culture. There is much more to this than just logos and wall colours. It includes the entire experience your people have in the office. This includes the location, layout, finishes, features, and furniture. To learn more about creating an office tailored to your culture, read this article.
Solving Your Workspace Problems
Now that you know about the most important issues that workspace consultancy can solve, you can look at your own business and see if you have any of these challenges. If so, it's certainly worth considering workspace consultancy to help your company forward. A workspace consultant will be able to help you build a long-term plan for your workspace. They'll balance real estate costs with staff performance, making sure you use your space as effectively as possible, and creating a space tailored to your business.
Of course, these are not the only ways workspace consultancy can help. A consultant will be able to add experience, data, and confidence to all your real estate and office design decisions. To learn more, read Do I Need Workspace Consultancy?
