Business men who are investment oriented and have a futuristic vision are always mindful of their spendings. When it comes to upgrading to a new office space, it’s always best to wait for the right time as office space is a huge business investment that can affect your budget plannings for a long term. But as your business expands and flourishes, there reaches a point when it becomes an absolute necessity to upgrade your office space to a much better and bigger one.
But how would you know that you’ve reached that point? There’s no foolproof formula. But here are a few things to help you know when it’s time to upgrade your office.
If you are looking to expand your team, it is always a good option to find a premium office space before you go on a hiring spree. Once you start hiring, instead of conducting interviews via online or at hotel lobbies, it is always recommended to conduct interviews at a physical office. This way the candidates will be able to see the office space they are likely to be working in the future. Also a bigger office space will allow you to accommodate more people.
As your company and brand reaches new heights, you will have more meetings with clients and customers. So the meeting space must have good seating arrangements, HD Video Conferencing, projectors and other amenities.
Conducting meetings in spaces where you can’t control the volume, crowd, seating arrangements, or decor can affect your office reputation. On the other hand, if the office space is impressive, your clients will get a good impression about the quality of your business as soon as they enter the office premises. A good office space can play a huge role in landing you a big client onboard.
Well it’s not a big secret that office design has a huge role to play in workplace productivity. The employees must be able to work effectively in order for your business to become a great success. If the working space isn’t optimized properly for the employees, their productivity might take a huge hit. If the office environment is noisy or there is lack of private spaces, your employees might find it difficult to focus which will really affect their efficiency in the long run. If the employees feel undervalued with your current office space, they may feel like you are not investing for a long term growth which would affect your employee retention rate badly. So if you feel like the current office space is hurting their ability to get work done, it’s high time you upgrade your office.
If your financial status is all good and your ROI is on the higher side then it’s time for you to move out of that small office. But always mind that office space is an expense that can make it really hard to pay your bills if there are any problems with your projected revenue. So always make sure to check out your financial stability before you commit to anything. Take advice and discuss with your accountant and staff on the financial data before you start searching for new and better office space. Be conservative, or you might find yourself regretting the decision to upgrade the office space if the business starts running slow.
Office moves are a big decision so always make sure that all you meet the above criteria. You don’t want to go through the trouble of moving only to find yourself that you might need to move again in the future. So you should have an insight into what type of office your business might need 5-10 years down the road and move into a office space that will meet those future needs.
Whatever your office needs maybe, Trans Asia Cyber Park in Kochi provides fully furnished office suites for rent at competitive prices to IT and ITES companies. We provide commercial rental space for corporates and professionals at the prime location of Kochi to build your business activities and services to the next level. To know more, contact us today!