Businesses are under pressure to find the right people to work for them, and to make sure that they have the best possible location. According to the Centre for Policy Studies, the rise in employer national insurance rates to 15% and the reduction of the payment threshold to PS5,000 will increase the costs to employers significantly.
Many UK businesses are concerned about the rising cost of doing business, which has led them to examine and review all aspects. It is therefore no surprise that many business leaders now wonder if their office space can generate a positive ROI (return on investment) in the coming year.
How you use your office space is the key to successfully navigating through these challenges. You can transform an underutilised workspace from a liability on the balance sheet to a strategic asset.
Considered workspace design: its value
This year, traditional office setups that are often characterized by rows of chairs and desks will become increasingly unprofitable investments. The reason for this is the outdated design, which was based on the pre-pandemic way of working. It lacks flexibility to accommodate the different types of work that businesses do today.
Businesses that provide a workplace that is full of amenities will attract employees to return to work regularly. To attract employees, workspaces need to provide a range of work areas, break-out areas, and high-performance technologies.
When considering a move, businesses often treat workplace design like an afterthought. In order to maximize the value of the office as a strategic resource, businesses must consult with experts in workplace design in order to assess and audit the role of the office at the beginning of an office move.
The introduction of purpose-led workspaces
The workspaces that are purpose-led are created with the goals and needs of the company in mind. These spaces go above and beyond to create environments which foster collaboration, employee wellbeing and innovation. Businesses can increase employee engagement by aligning their office environment with company values and mission. Workplaces with quiet zones for concentrated work, collaborative areas for team projects and relaxation spaces for breaks can all be more productive.
Creating environments with amenities
Amenity-rich workplaces are increasingly important for attracting employees back to work. These workplaces attract people from their homes by providing a variety of services and facilities that enhance employee experience. These amenities, from on-site fitness centres and wellness programmes to social spaces and cafes, can transform the office into a hub for employees.
In a highly competitive job market, offering an environment that prioritizes employee convenience and wellbeing can be a key differentiator. These investments can also lead to savings in the long term by reducing the time it takes to hire new employees, reducing employee turnover, and improving engagement.
The demand for technology and innovation is increasing
Businesses must embrace technology more than ever before, as GenZ is the third largest generation in the UK labour force.
Businesses must embrace new ideas and innovations to attract this generation of talent. They should also offer technology that is comparable to the standard enjoyed by employees and customers in their private lives.
Modern technology solutions such as AI and smart office systems can improve efficiency and streamline operations. Integrated building management systems, for example, can optimize energy usage, reducing costs, and reducing environmental impact. Advanced communication tools facilitate remote working and collaboration. This makes it easier for teams and individuals to remain connected and productive.
Turning the office into a strategic asset
Business leaders need to consider how they can transform their workplaces from an expense into a strategic asset. They should create amenity-rich, purpose-driven workspaces that help them achieve business goals.
Kerr Office Group provides a five step blueprint to support this transformation.
- Audit the current use of your workplace: Understand how you are currently using it and where improvements can be made.
- Ask your team about their preferences and needs: How do they use the space currently and what do you feel they need?
- Develop a workplace strategy aligning business objectives with colleague needs.Consider the hybrid working policies and technology integration, as well as expectations and how you can support colleague wellbeing.
- Find the best workspace design for your employees: Different work environments can enhance employee experience and support a variety of work styles.
- Communicate clearly and persuasively: Have a constant dialogue with your colleagues about the rationale behind a workplace strategy. Provide plenty of opportunities for them to provide feedback.
