If your office fit out has an inspiring design and makes your workspace somewhere that people will enjoy working, your staff will be more inclined to stick around, saving you money in the long run.
We’re not the only ones who realise how important good office design is, and our views have been backed up by a new report by commercial property consultants, Knight Frank.
Their Global Cities: The 2016 Report has looked into the future of the office and has found that there needs to be some break in the mould of the design of an office environment which has been going on for the past two years.
The researchers have found that in order for a business to attract and retain the very best workforce, they will need to create an environment which the staff will actively want to work in- after all, if you are working somewhere that is dull and boring, your motivation for wanting to work there will quickly decrease.
So how will creating an office space which attracts workers benefit the company financially? Surely having to re-design a whole office will cost the business time and money?
While a re-design will require some expense to be spared, the pay off will be huge when it comes to the staff that you will have working for you.
The report used findings by Oxford Economics which discovered that it would cost a business the equivalent of 150% of a salary to lose a specialist member of staff.
A normal worker’s workspace in London costs a business around £10,440 a year in rent, local taxes and service charges. The average salary is also around £35,178, so taking the 150% figure we’ve just mentioned; it will cost roughly £52,574 to replace a specialist worker. This is over five times the cost of the workspace for the employee.
The newer generation of workers are coming into industries expecting an inspiring, enjoyable place to work, with a particular emphasis on combining collaborative and personal workspaces.
As many cities have offices in older, more historical looking office spaces, this is a challenge that many businesses will face, but it’s not the be-all and end-all for those workspaces.
The head of workplace consultancy for Knight Frank, Andy Bugg, has tackled this issue by saying: “We are seeing firms take a longer-term view on investment in their office space in order to meet the expectations of the newest generation of employees. More and more, the perception of the office as a business expense is shifting as firms see the value in leveraging office space as a tool to inspire and energise staff.”
Investing in a high quality office design is far more cost effective than losing staff because they are no longer inspired or motivated to work for you.
If you are looking to keep your workforce happy with their workplace but need a helping hand with a brand new office fit out, don’t hesitate to get in touch with the experts here at Officescape. Give our team a call today on 01553 811833 and we will be delighted to help you with your enquiries.