June 4th 2022
Businesses nowadays are constantly looking for ways in which they can optimise their practices and streamline success. Many think that a bigger office means more business, and that’s not always the case. Larger offices typically mean larger overheads and more maintenance. So, we ask you as a business owner – have you considered downsizing your office?
Now, we’re not trying to convince you to reduce your workforce at all, but letting you know how you can really make the most out of the office space you base yourself in. Not only efficient for your budgets, sizing down your office can help to promote new ways of working within your business too.
We’re going to outline some of the ways in which downsizing can help you to reach your business goals, without having a sprawling office complex to keep an eye on at the same time. As the old adage goes – sometimes less is more.
Understand Why You’re Downsizing
Before making the decision to downsize, you need to understand when and why you might need to. For example, if you’re currently working on a big project (or multiple projects) that require many people to be present in the office, you may need to put this idea on the backburner for a little bit. You need to figure out whether a move to a smaller office will hinder the current rate of production or workflows.
If you’re looking to save on overheads or have extra space that’s not being used daily, you can get a good idea of when it may be time to look into downsizing. This doesn’t mean reducing your overall production, just the space in which your employees are working. Clearly communicating your intentions to employees, stakeholders and upper management is vital when considering sizing down your space. You’ll need to make the call at the right time to not disrupt daily procedures.
Moving to a Hybrid Working Model
In recent years, many businesses have been moving to some form of hybrid working model (also known as flexi-working), in which employees are present in the office on some days and work from home on others. It’s become a new way of working, and a successful one at that. Hybrid working allows businesses to reassess their current space obligations and can help them to not only provide the correct space for employees, but also take employee happiness into account at the same time.
Forbes reported on a new study showing that giving employees the ability to work remotely (even if for a few days a week), can improve employee happiness by as much as 20%. This clearly shows that the hybrid working model is successful – and can also save your business money too by downsizing your office needs.
Optimising Space
If you do choose to downsize your office, you’ll need to understand how to optimise the new space to still feel like the beating heart of your company. When taking into account a hybrid working model, less employees are going to be present in the office each day. This doesn’t mean that less work is being done, just that your new space is more refined to accommodate only those that are there in-person.
Will your smaller office space be desk-based? Will you need areas for face-to-face collaboration? This is where you can truly redefine the typical offices of the past, despite being in a smaller space. Making each area have a specific purpose, and used daily, will help to maintain a sense of camaraderie between your employees, rather than simply rows of desks and computers. This is also how you can really boost the spirits of your employees and create a highly creative work environment.
Keeping Company Culture
When downsizing your office, it’s important to consider how this may affect your company culture. Your employees want to work in an environment that fuels their creativity, awards out-of-the-box thinking and promotes collaboration. Your employees are the backbone of your business, and you’ll want to remember to always keep them in the front of your mind when deciding whether to change that environment.
In some respects, downsizing can bring a team closer together, both literally and figuratively, but a momentary upset in working conditions can affect this too. Consider what you can do with your new smaller office space to help maintain the positive company culture you already have.
Cost Efficiencies for You and Your Employees
It would be silly to talk about downsizing your office without mentioning how it can affect your budgets. Sizing down any space is likely to lead to savings in certain areas of your business, such as lower rent, smaller heating and electricity bills, and reduced commuting costs for your employees. These are hugely beneficial, as the money saved can go back into the business.
It would make sense for you as a business owner to put the idea of hybrid working and downsizing the office to your employees first, instead of springing it on them out of the blue. Having their input could be really helpful in finding a new smaller space which suits all. It’s basically a win win situation for all involved, and with no reduction in productivity at all.
Location Matters for Everyone
Discuss with your employees about where your new office should be, and always remember that the location will really matter. If you want lower commuting costs and shorter trips to get lunch for your employees, you’ll need to have a good idea of where they are all coming from.
This is also why we can suggest having multiple smaller offices if needed. The money saved from downsizing from a huge office can easily support smaller spaces in a few locations, such as in different cities or towns. This approach can also help when you are recruiting for your business, as you’ll have a larger talent pool to choose from across a few viable locations.
This can give employees the option of where they wish to work and can really contribute to the positive company culture and employee happiness we mentioned earlier, leading to a better overall work-life balance for them too.
Downsizing your office space doesn’t have to be a headache and, in fact, can be a great option for many businesses who have extra space that they don’t need – but are still paying for. You’ll need to decide whether it’s the right option for you, as every business is different, but with the growing popularity of hybrid working (and the success it is having), it should definitely be something you consider.
If you’re convinced, and want to look for a new space today, head over and take a look at our serviced offices and managed office spaces to find a smaller office that’s perfectly suited to your business’ and employees’ needs.
