In today’s business world, it’s essential for organisations to ensure that their costs are low in order to remain competitive. As a result, many businesses are now looking at ways to downsize their workspace in order to reduce their overhead expenses.
The pandemic has started the trend for many businesses to downsize the office space they rent. It’s become easier for staff to work from home, given the advancement of modern technology, and many organisations see the reduction in office footprint as a great opportunity to save costs. Whilst it remains beneficial to have face to face meetings, the world of Zoom and Teams now offers the chance for remote catch ups.
According to the latest government statistics available, the trend of downsizing office space in the UK continued in 2021. The UK government’s Office for National Statistics (ONS) reported that the average size of office spaces in the UK decreased by around 6% between 2018 and 2021.
The COVID-19 pandemic has undoubtedly had a significant impact on the use of office spaces in the UK. With many employees working remotely during lockdowns, businesses have had to re-evaluate their use of office space and consider downsizing to reduce costs.
If you’re thinking of downsizing, then establishing the cost per square foot of renting a workspace, or the cost per desk, can be carried out online in seconds. Free Office Finder offers a serviced office pricing tool that can help you estimate the cost of renting flexible workspace in London and the UK, for both private and coworking space. It’s free to use and results are immediate.
It’s also worth considering whether or not the office will be furnished or unfurnished. Furniture can be purchased or leased and this Essential Guide to Buying Office Furniture may come in handy if you are about to embark on an office refurbishment project as it highlights things to consider before you buy.
If you are in need of furniture, then of course you can source this from cost effective online providers or you can buy from an Office Interiors specialist as purchasing quality furniture will no doubt be the right choice in the long run…buying cheap isn’t always the best move when it comes to office furniture.
By reducing the amount of physical space, companies are able to create a more efficient and organised working environment. This can help to reduce the amount of time and money spent on non-essential tasks, allowing employees to focus on more important tasks.
Another idea may be to use Coworking instead. When you’re renting office space, it’s important to consider the cost of energy, however if you’re renting a coworking/shared space, energy costs are normally included in your rental fee.
If you are renting a private office, there are several things you can do to help reduce your energy costs. Switching to energy-efficient lighting and using programmable thermostats will help. You can also invest in energy-efficient appliances.
Finally, downsizing an office can also lead to increased morale among employees. By reducing the amount of physical space, employers can create a more comfortable, less busy and relaxed atmosphere, which can lead to improved productivity. These positive effects of a happy workspace normally get passed onto customers so it’s imperative to ensure your office is smiling.
Overall, downsizing an office can be an effective way to reduce overhead costs while also increasing productivity. By reducing the amount of physical space, companies can create a more efficient and organised workplace, as well as improve morale among employees – vital to remaining competitive in today’s economy.
If you’re thinking about moving office, talk to one of our interior experts today.