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Technology and innovation have completely transformed how, where and when businesses operate. With this advancements, businesses of all sizes now have more flexibility and leeway to reduce the costs and resources needed to run successfully. One such key cost is from having a physical office space for rent. Only 15 years ago, office space trends did not favour small and medium businesses. To attain and maintain a respectable stature, businesses needed to have a fully operational physical office space large enough to accommodate receptionists, secretaries, messengers, floor staff, managers and a myriad of other staff members. Each person would need to have a workspace of some form, to enable them to adequately carry out their duties. Typically, 85% of the space was for a private office with the balance 15% being shared space.
Currently, the scenario is totally different. A large number of these roles have been replaced by technological aids, or by people with better training and who are able to multi-task, hence eliminating some jobs. The fast pace within the market and the way businesses operate now also means that people are spending less time in the workplace and more time on the go. Businesses that invest in managing their operations more efficiently are able to downsize their office space, cut down their expenses and grow their profits.
WHY OFFICE SPACE CAN BE WASTED SPACE
An abundance of space is synonymous with prestige. A company with spacious lounges and extensive boardrooms has an aura of prestige and success. The downside is that this prestige comes at a very high cost. Inevitably, some space in the workplace is unnecessary and is therefore wasted. It has been revealed that only 35% of the office space available is optimized. This reveals that 65% of office space is not needed for business operations to be successful. Fewer people in the organization and more machines to handle certain tasks means that less floor space is actually needed. This is not ideal for businesses looking to cut down on costs and maximize profits hence the need to downsize office space.
Shrinking office spaces are now commonplace in most cities across the world let alone here in Canada. The steady rise in office space rental fees in major cities has forced businesses to not only downsize office space but also to think about using available space efficiently. This trend also explains the rise and popularity of shared workspace providers such as OfficeScape Markham. These providers give businesses the opportunity to have fully equipped, professional level, office space for rent whenever they need it without the need for extended and expensive lease agreements.
Employee behaviour has also impacted the way that office space is effectively used. Consider that at any one time, there will be an employee who is unwell so does not come to the office, is travelling on business or has chosen to work from home. Additionally, as more businesses change their structure and downsize, there are fewer employees in the organization. As it stands, minimal, more efficient office space is the way to go.
HOW TO UTILIZE SMALL OFFICE SPACE JUDICIOUSLY
Businesses are coming up with creative ways to avoid paying more rent than they have to be making the best use of every inch of space available. Here are some of the popular ways you can get maximum utility from your limited office space.
MAXIMIZE THE ROOM IN YOUR OFFICE
A standard office typically only optimizes 35% of its space. The remaining 65% is left un-used, underutilized or used on unnecessary things. To recover this space and put it into good use, start by de-cluttering. Clutter eats into your precious office space and slows down the mind. Clear out unnecessary items such as old file cabinets to create more that you can then use for extra desks or to make the area feel spacious. You can also get rid of the now outdated big desks. Use smaller workstations that can be easily stored away to create more space. This will also help you display a sense of purpose and stimulate creative thinking.
MAKE USE OF COMMON AREAS
Traditionally, the idea of an office has been limited to the small enclosure or cubicle from where you work privately. However, this thinking needs to change and adapt to modern day reality. In reality, your office is the entire space for rent under your name. Rather than focus on the limitation of your small private cubicle or office, start utilizing the common areas to hold brief stand-up meetings, discussions or for quick presentations. This will almost eliminate the need for a meeting room.
CREATE VERTICAL OFFICE SPACE
Take advantage of vertical space to reduce office footprint and to de-clutter. Use shelves that attach to the studs in your wall to store away files and other office supplies. Stylish wall hooks are also a great option for hanging your coat or sweater. A desk with shelving over it is also better than having a separate storage area.
LET THERE BE LIGHT
A properly lit up and airy room automatically feels spacious. Therefore, use overhead down lighting such as recessed LED lighting or a track with LED spots to illuminate the ceiling. Avoid floor lamps that eat away space. Lastly, use brighter colours that add life and vibrancy to a room rather than dull colours that feel constraining. This will lift the mood and aura of your office and make it feel more spacious than it is.
Acquiring a financially sustainable office space for rent is becoming ever so hard in major cities across Canada. Rising rent and extensive contractual demands are making it hard for small and medium businesses to get and maintain good offices. While a smaller space is a good option in the meantime, there are better alternatives in the form of shared office space.
At OfficeScape Markham, we provide businesses with fully furnished, modern office space for rent on demand. This allows you to cut on costs while projecting a professional image to your clients. Talk to us today and let us tell you more about the new trend in office space rental.