Renovating vs. Relocating Your Office Space

You may have decided that it is time to make improvements to your office space and now there is a choice to make. Will you renovate your existing office space or will you relocate to a new space altogether? This can be a challenging decision but at RI Group, we understand and inform you of the benefits and challenges of both renovating or relocating. At this stage, it is important to get the key decision makers, key team members and your selected Office Space Advisory team and Workspace Strategists involved to help you make the best decision. Below is a list we have put together to help you in the decision-making process:

Advantages of Relocating:
  • The construction during a renovation may be disruptive. Although many renovations to your space can be conducted off-hours, some work will have to take place during the regular workday. Employees who are used to working in relatively quiet spaces will need to overcome these new disruptions. Employers should be prepared for a slight decrease in productivity while team members acclimate to the noise.
  • When renovating, it is sometimes important to place employees away from their usual desks. For example, if a wall next to employees needs painting, it will be necessary to have them work from a different room.
  • Relocating gives you a clean slate. Offering an inspiring office environment and a people-focused corporate culture is a necessity in attracting and retaining talent. The decision to relocate as opposed to renovating gives businesses a clean slate for infusing additional amenities into the workspace.
  • Interruptions in the workflow can be avoided. When you lease a new space, you’ll have the opportunity to complete all the tenant improvements before paying rent and before occupying the space.
  • Relocation to a better area can excite and unite your team and give them a boost in motivation. For example, if the new area offers more places to walk, eat and enjoy lunch time, they will feel excited about the new location.
  • Relocation gives you more opportunity for exciting “grand-opening” events and a fresh start.
  • Relocating can give you the opportunity to rebrand.
  • Relocating may make it easier for you to attract and retain top talent from areas near the place you relocate to.
 Advantages of Renovating:
  • Renovating gives you the opportunity to customize your space. Renovating is perfect for those who want to refresh everything in their space and give it a new look altogether. If the space is the size you need, it makes sense to renovate. If you want the building to be larger or smaller than it currently is, it’s probably better to relocate.
  • If your office space is in an area that you love, the good news is that you can do wonders to your outdated space by simply renovating it. With renovation, you can make a space as good as new.
  • Office Space Advisors, like RI Group, can help you change your workflow and layout pretty easily. It isn’t always necessary to relocate when needing a new workflow or layout. Workspace strategists help to rearrange your workflow and layout to increase the amount of space per employee and allow for more employees to move in. 
  • Renovating may be the cheaper option, as moving can incur high expenses such as increased leasing fees, moving company expenses, etc.
  • If you are needing to rebrand, renovating can be just as a good choice as relocating. Branding a workspace is much more than just displaying the company logo at the entry façade. It’s about using the entire environment as a way to communicate the essence of your brand. With renovation, it is possible to completely rebrand a space. 
  • An environment that accurately reflects your brand’s values filters down to every person in your organization and beyond. Your company’s office is a concrete and tangible way to convey your corporate culture, influencing candidates’ impressions of your company and how talent-friendly you are, how invested you are in employees, and how progressive and tech-savvy you are. By simply renovating, you can see a huge boost in talent retention, staff motivation and even sales and profits!

 

Ask yourself what your office goals will be in the next five to ten years. If you like your office and it works for your company and your team, then it can make sense to remodel and work with what you have. If for example, you have a goal for growth that won’t be possible in your existing space, it may be a good idea to relocate to a new space.

As your team of Office Space Advisors and Workspace Strategists, RI Group can help you make the decision. Call today to schedule an obligation-free appointment. We will be happy to sit down with you, listen to your goals and advise you on whether an office redesign or relocation will be more beneficial.

Call: 800.427.5811                Email: info@rigroup-us.com 

 

 

 

Sources:

https://www.entrepreneur.com/article/239704

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