Whether you are a fresher hoping to turn the page to an exciting new chapter in your life or the CEO of a big enterprise looking to seal a critical business deal, it is an undeniable fact that your first impression of a business’s Operation centre is critical to shaping your perceptions and driving decisions. And this is simply because the workspace of a business is essentially a reflection of its brand, its organisational values, and culture.

Not only that, the culture of a company is also tangential to its office. With an average employee spending over 48 hours in their workspace, it is imperative that the space chosen be conducive to their wellness, productivity, and performance. After all, the right environment is the primary enabler in driving employee satisfaction, organisational performance, and stakeholder fulfilment.

When chosen and designed prudently, the office space of a company can instil trust, credibility, and confidence in both employees and clients alike. Therefore, no detail is too inconsequential when choosing the right place for your business. To make it easier for you to navigate the confusing terrain of choosing the right office space for your business, we have outlined the key factors you must consider before making this critical decision.

Allocate a Budget:

Before you even venture into the territory of choosing the right office space for your business, you must determine what budget you can realistically work with. After all, it is not only the monthly rent or lease that you need to worry about; you also need to consider the hidden costs such as maintenance fees, parking, utilities, and many more.

Now, if you are a new business, it is easy to give in to the temptation and allocate a meagre amount. However, the judicious thing to do here would be to find a balance between what amount you can comfortably part with and the long-term implications of that choice. As you are pondering this, you must ask yourself the following questions:

• What are your five and ten year plans for the company?
• Does that vision include expanding the space as your team grows?
• Is the budget you are allocating in line with your financial projections?

Careful consideration of these questions will allow you to have a well-thought-out budget before you even begin scouting for locations.

Conduct Market Research :

It is time to get rid of the age-old bias of something expensive being better. Just because the lease for a space is exorbitant does not necessarily mean it will be a favourable home for your business. Similarly, it is necessary to understand that just because you believe you got lucky with a good lease deal, it does not mean there are no hidden costs that might affect long-term business operations.

This makes it necessary to undertake thorough market research, empowering you to understand the pricing trends popular in the market and facilitating the business forecast in the area.

While performing market analysis, it is also crucial to watch for emerging micro-markets, like the Golf Course Extension Road. Leasing in such places could often be the answer to striking a judicious balance between cost efficiency and business profitability.

Consider the Location:

This brings us to the most important consideration when looking for a new workspace: location. A strategic location can take your business to new heights. This is especially true in a post-pandemic workspace, where employees are prioritising their comfort as they return to work.

In light of that, the modern workforce is more likely to choose a workplace that is easily accessible. For that reason, when selecting an office space, you must look at locales that have a well-developed transit framework. Diligent research needs to be conducted on the presence of steadfast systems of public transportation, such as buses and metros, as well as railway stations and airports.

Further, it is vital to assert there are an easily accessible array of social institutions such as schools, hospitals, banks, marketplace, etc., in addition to having premium residential catchment in the vicinity of your office. This will ensure that you will have your pick of the talent pool when recruiting.

Amenities to Support Employee Well-being :

As discussed above, when choosing an office space one must determine the presence of a robust social infrastructure and transit mechanism in the vicinity. However, in the post-pandemic that is not enough to recruit or retain employees. The modern workforce do not view in-house amenities as a luxury anymore, rather a necessity to have a healthy and holistic work environment.

So while you are looking for a new office space to lease, look for one that has an array of amenities that make coming to work an enjoyable experience for your employees. This can include but is not limited to facilities such as sustainable workspaces with biophilic features, top-notch safety and security provisions, culinary spaces, mandated parking space, etc. within the office complex.

Design Serves a Purpose:

Another important but often overlooked factor that one must consider before zeroing in on your business’s home is the design and layout of the office space. This is because the design of your office should be an extension of your brand’s identity and its core values. The office space of an advertising agency, for instance, would be very different from an IT startup's workspace.

When designed with foresight and proper planning, your office can function as an outstanding marketing tool for your brand. A workspace, when designed expediently, can be an excellent marketing tool for your business.

Furthermore, you must green light a workspace only after ensuring that it meets your organisational needs not only in the present, but also long term. This will ensure that your company is on a path to growth in a manner that is sustainable long-term.

To Sum It Up..

Selecting a new office space is often a unique experience; a path fraught with confusion and uncertainty, but also hope and excitement for the future. With our guide, you can now have a clear and concise plan on how to land your dream office, one that is suited to your organisational needs and vision.