- Anita Subramanian
The last few years have seen major transformations in how businesses across the world are defining the ‘ways of working’. Trends like hybrid and remote work arrangements have accelerated, leading to a rethinking of the role of the corporate office.
Today, relocating an office space isn't just about moving; it's about accounting for the company’s operational needs, gaining a competitive edge, improving the employees’ quality of life and taking the business forward. The corporate office has now evolved to become a strategic asset that can help businesses to achieve their goals.
We have identified seven key issues in corporate real estate that many companies have to deal with. These include:
Rising inflation and high overhead costs can make an impact on your company’s bottom line. Today, it has become imperative for organisations to find efficient and cost-effective CRE solutions.
Brown buildings with net zero goals
While you can define the sustainability goals within your office space, the building in which your office space is located may not. Options to cut emissions thus become limited and extremely dependent on the building owner’s goals.
Workplace strategies that only work for now
Your current office space may not meet your brand’s present way of working. What worked before the pandemic may not be effective today; and what works today may not be effective in the future. You need to consider a strategy that is present and future-proof.
A place your business has outgrown
If your business ambitions and team is expanding but not your office space, then that could spell trouble for you. A growing business needs a larger space to accommodate it, be it for the talent, product lines or just more room to operate.
A place that only ticks one of your needs
‘At the heart of the business district’ – this cannot be the only benefit of your office’s location. Your office’s location can drive productivity, improve brand perception and do much more. It also needs to evolve amidst social, economic and infrastructural changes.
Stuffy cubicle farms that suck the productivity away
Your office needs to house the growing requirements of the workforce. If your team outgrows your present space, you end up with cramped workstations and less to no collaboration areas. This then reduces productivity and kills the work mood too!
Default renewal of leases on unfavourable terms
The world’s changing too quickly, and your present office is familiar, hence renewing its lease is the easiest choice. But easy does not necessarily mean good for you. Your easy option can become a missed opportunity to reassess your needs and lock you in an arrangement that may not suit you.
Today’s business landscape is fast-paced and poses many challenges to organisations. Business thrives when companies can easily adapt to changes. One such adaptation is relocating the office space.
But relocating the office space is a monumental decision and for that you need a partner who can help you help you understand the various challenges that may arise and how to deal with them. This guide is that handy solution.
The reasons to relocate are many. This guide simplifies them all and offers comprehensive solutions to the questions you may have. It also provides examples for different kinds of businesses, so you have a first-hand understanding of how relocation can impact your business.
Planning to relocate your office space but don’t know how? Download the guide for everything you need to know to plan and execute a successful move, from start to finish.