Whether you’re looking to establish a 100-person headquarters or a one-person satellite office, we can create a custom workplace experience that eliminates hassle, inspires employees, and fosters a culture that attracts top talent. What is rightsizing and how can it help your company?
The Right Flexible Office Space
The main purpose of an office environment is to support its occupants in performing their job—preferably at minimum cost and to maximum satisfaction. With different people performing different tasks and activities, it is not always easy to select the right office spaces.
To aid decision-making in the workplace and office design, one can distinguish three different types of office spaces: individual spaces, group spaces, and amenity spaces.
For new or developing businesses, remote satellite offices and project rooms, serviced offices can provide a simple solution and provide all of the former types of space.
Typically, when a company is designing their office space, an office space EXPERT (Architect, Interior Designer or Office Planning Expert) will be hired, this professional should include 3 basic types of spaces in their clients’ proposal:
An enclosed workspace for one person, suitable for activities that are confidential, demand a lot of concentration, or include many small meetings.
This is the place where a person will be doing most of their work. It includes a private office, workstations, or focus rooms.
Meeting spaces in an office typically use interactive processes, be it quick conversations or intensive brainstorms. There are different types of meeting spaces, each supporting different activities for collaboration.
These provide a variety of tasks and audiovisual support including board rooms and conference rooms.
Typically used for secondary activities such as filing documents or taking a break at some point of the day.
There are different types of amenity spaces, each supporting different activities where community can happen.
Coffee and kitchen area, storage rooms, server rooms for technology, and circulation areas are a few examples of amenity spaces.
SO, What is Rightsizing for your company?
According to the annual Staples Workplace Survey, it was recently found that the concept of “workplace” is continuing to evolve.
For example, only 32% of employees spend all of their time at work in the office. What’s more, a significant portion (43 percent) said that the option to work remotely is a “must-have” for today’s workers.
The problem in “wasting space” is this: the individual space is what a company or individual uses the most; the group and amenity space does not even come close to the amount of individual space that gets utilized.
Surprisingly and ironically enough, these last two spaces make up around 60% of the square footage of the office!
This means that the company is most likely throwing money away by paying on group and amenity space that is not even being utilized.
Why pay 100% of this 60% of office space when it is actually being used 30-40% of the time?
RIGHTSIZING takes place when the company pays for the correct balance between Individual Space and the Group and Amenity Space, this typically looks like 40% of the private space and an on-demand group/amenity space when it is used.
SHARING the group space with others will make the 60% shrink even more and make the office investment more efficient.
The next step in order to run the diagnostic and provide you with unbiased, informative input.
- The diagnostic includes questions like:
- How many employees
- What is your MONTHLY rent/lease?
- Currently, what is the size of your office? (sqft)
- How many persons will be in the office more than 4 hrs a day?
- How many persons will be in the office less than 4 hrs a day?
Once we have this info, we calculate the space needed.
In this example, the headcount is 4 persons.
According to IFMA, the # of sqft needed per person is 275 based on a typical company so in this case, this company requires 1,100 sq ft.
In San Antonio, the average amount per sq ft is $22.84 plus triple net so in this case, we have $25,124 a year meaning $2,094 monthly.
So in the traditional world, this company will face the following expenses at move-in, on a monthly basis and the expenses every year.
As you can see there are some hidden costs that are usually not taken into consideration.
Like the moving cost from the old office to the new one, the exit strategy in case you need to cancel the agreement requires a bigger negotiation or maybe affects the price.
Furniture and equipment needed for the new location including a conference room and 1 full office and 3 workstations. Because this expense will be part of the assets of the company then we need to consider the Tax for this item.
There is no support team to help in minor tasks but an assistant or receptionist could mean the difference in a business that is fighting to be more efficient, but this asset brings a liability we can not overview.
And then the regular expenses and utilities that take us into these totals.
Move-in $15,530 Monthly $6,338 and Yearly $103,384
As you can see these figures are more realistic because $1,585 is the average monthly per person if you want to create a budget.
In comparison with the other option the Flexible office model, where you are paying more accurately for what you are using.
If we were rightsizing this company the budget should look like this.
With 2 private offices and 2 persons working in the coworking area, the budget is $2,796. The difference is that all the hidden costs are included in the price because the furniture is included. You also have the flexibility to modify the layout of this according to your needs.
In this case, $699 is the average monthly per person VS $1,585 in the traditional model.
No move-in costs, because you only need your laptop and the receptionist is included and is there for those minor tasks.
The exit strategy is as easy as 60 days’ written notice.
Obviously, there are no Tax costs because all of those are paid by the Flexible office space company.
Move-in is $2,796 because it is deposit + 1st month and that is it. Then Monthly $2,996 and Yearly $38,784
As you can see there more than $64,000 in savings with rightsizing.
THE OFFICE OF THE FUTURE IS LIKE A FULL-SERVICE HOTEL
If you want to talk to a Rightsizing Expert today to find out how you can save money and increase workplace productivity.
+ (210) 598-5595 or www.rightsizeyouroffice.com