Many businesses make the mistake of treating the office as a unit that is purely a cost centre. However, forward-looking companies value office design as an important part of the company strategy. It influences costs, employees’ productivity, attracts talent and reflects the company’s culture. The office design should be inspiring and captivating to both company employees and external visitors.
If you are in the market for office space for lease in Singapore, it is highly recommended for you to consider the following ways in which the office design impacts the company.
1. It Impacts the Operational Costs
The most apparent impact of renting an office is firstly the financial impact. With rental costs ranging from $9 to $25 per square foot, monthly, the business must be prepared to fork out around $500 to $1000 for each employee’s workspace.
This is a high cost to absorb; therefore, you must have a thorough understanding of the cash flow and revenue trajectory. If it is a startup, consider alternative forms of workspaces such as co-working spaces and shared offices.
2. It Affects Staff Productivity
Fortunately, the office, if carefully planned and designed, can contribute to the overall productivity of the company. Office spaces with thoughtful designs, maximize lighting, airflow, and hold ergonomic furniture. The practical layout designs also encourage the quick flow of information as well as collaboration. These qualities boost the productivity and creativity of workers tremendously.
3. It Attracts and Retains Talent
Unlike in the 1980s and 1990s, the modern-day company is knowledge-driven. Thus, talent is a crucial aspect of any company. Talent is at the heart of innovation which gives the company a competitive edge.
Research shows that more than half of all Singaporean workers are willing to sacrifice portions of their pay in exchange for better work-life balance. They value better working environments and flexible office spaces. Thus, designing your office space with this in mind will provide you with an edge over the competition when recruiting top talents. You may not only attract top talents but also acquire them at lower pay. In addition, you do not have to worry about your talents leaving, as you have already provided them with what they value more than a bigger paycheck, that is, a nice, and ambient workspace.
4. It Contributes to the Company Culture
Company culture is a significant component of the business’ brand. Through the office design, you can communicate, establish and nurture a positive company culture.
The various colours of the office furniture and wallpapers can also reflect and communicate the company’s values.
A flexible office space’s design that includes open spaces communicates and fosters collaboration. Such a culture is crucial for innovation and problem-solving. Although the impact may not be directly reflected on the balance sheet, the impact of the office design is clear-cut.
5. Office Design Impacts Customer Experience
Fostering a positive company culture does not just impact the employees; it also builds the reputation of your company and enhances your customers’ experiences.
The company culture has an impact and influence on the services rendered to clients. Positive work culture and values such as hard work, honesty and transparency will impact customer experiences positively. Also, if your clients visit your office, excellent office design will go a long way in creating the right impressions.
As you look around for office space for lease in Singapore, consider the above impacts of the office design on your company.
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