How Much Space Do I need
# How Much Space Do I need
Commercial property and office space is one of the biggest costs for a business, so when it comes to leasing, over or under-estimating the amount of space needed can end up becoming an expensive exercise. 5sqm, is widely considered the minimum space required per person in an office, but this is just a guide.
Renting Too Much Space Leasing too much space puts you at risk of paying for space which will sit empty creating office wastage (unnecessary costs on rent, service charges, utilities and more). Having lots of unused desks can also have an impact on employee motivation and their perception of the business. If you have clients in the office, too much empty space doesn’t necessarily create the right impression of a successful business!
Renting Too Little Space Renting too little space can limit business growth and hinder staff expansion. Fitting out new space to accommodate new people or relocating prior to lease expiration can be costly not to mention time consuming.
So, what can you do to determine how much office space you need?
Asses Your Business Now and in the Future The following questions will assist you in estimating how much space you need currently, as well as how much you will need according to the anticipated growth of your business.
- How many people do I employ?
- Will I be hiring any more employees in the next two years?
- How much is the business projected to grow in two years?
- Do teams work remotely and only require limited access to a shared workstation, or are teams required to be in the office at a dedicated workstation every day?
- What is our requirement for ancillary space – meeting rooms, collaboration space, break-out areas etc?
Two Factors That Influence How Much Office Space You Need
Type of work: The way you spend your workday plays a significant role in the amount of space required. Are you and your team mostly out on assignments or at meetings? Or is your team mainly focused on research and back office work?
Employee happiness: Personal space is vital to employee wellbeing, and research points to the fact that workers are happier and feel more engaged in environments where they can sit, stand and walk around. Additionally, space can have an effect on the psychology and creativity of workers and can play an important role in general happiness.
Why Are More Businesses Choosing Flexible Office Space? Coworking, managed or serviced offices, give you complete control over location, size and rental terms. Short-term leases available on a month-to-month basis give your business the ability to expand, reduce or move as needed, and flexible offices and meeting rooms give you even greater flexibility to adjust based in situational needs as they arise.