The approach that business owners and companies take when it comes to making an office investment has remained unchanged as technology keeps evolving.

Thanks to smartphones and portable computers, you no longer need to be in the office from 9 to 5 in order to do your job

We can work at 3 am, 9 pm, from our couch, from a local coffee shop, in our pajamas. I’ve even worked when I got mono and was half-dying on my couch. 

Because of this flexibility, the line that separated our work life from our personal life has dissipated and work-life balance has been replaced by work-life integration

Flexibility plays such a big role in today’s workers that 67% say they would consider leaving their job if their work arrangements became less flexible (Staples 2019 Workplace Survey). 

Yet, there is a valuable factor that is not keeping up with this flexibility: Real Estate. 

With this increase in remote working, companies are now realizing that committing to a long-term lease when their employees are spending limited time at the office is not the best option. 

If business owners and workers are looking for more flexibility in the way they work, it would make sense to also look for flexibility in their office space. But, what does a flexible office space look like?

Personalized Options

The amount of office space that you actually need depends on the size of your team, what they do and how they work. 

This is no longer a one size fits all type of investment. Many businesses are considering what their employees need in order to find the right space.

The type of space that is used the most by a business is individual space (private offices, workstations, focus rooms). Group and amenity are used the least but they take up the most space (largest square footage). 

By personalizing your office space, you only pay for individual space and share the rest on an on-demand basis. 

Short-Term Leases

What if your team grows? What if your team decreases in size? How is a long-term lease going to adapt to the growth or changes in your business? If you are looking to grow within the next 5 years, your office space is also going to change. 

Rightsizing

Places like flexible workspaces take care of most of the overhead costs. You’re really just paying for the space you use. Maintenance, internet, food and beverages, electricity, water, and sometimes even furniture is handled by your flexible workspace operator. 

This means that you can get started with little investment, and grow without worrying about extra costs or limited space. 

When a business pays for the correct balance between individual, group and amenity space, they have rightsized their business. Rightsizing helps businesses save money and increase productivity in their employees.

If you want to learn more about rightsizing, download this FREE whitepaper. It includes a questionnaire that will help you start to define how much space you need. 
If you have any comments or questions about rightsizing, let me know in the comments below or email me at paulina@venturepoint.us.

By Paulina Escobar on February 27th, 2020.

Photo by Unsplash