What is a Workplace Strategy, and How Does It Affect Your Business? The Top 5 Things to Consider for Your Strategy.

Smart businesses know that in order to be successful, you have to have a strategy. The first types of strategies that often come to mind are marketing or business development, but what about your workplace strategy? The vast majority of businesses would agree that their people are their greatest asset, making it all the more important to have a plan in place to create a work environment that is conducive to your business model and helpful in recruiting and retaining talent. After all, haven’t we all heard about the wonders of Google’s campus?

There are some key considerations that you should keep in mind when selecting the location and layout of your office space. If you can achieve harmony with these factors, you will have created a strong workplace strategy that your business will reap long-term benefits from.

Central Location

There is a lot of strategy behind what is the “best” location for your business. One of the first considerations should be the commute of your employees. Think about where most people are coming from, and narrow your options to a reasonable distance between home and office. Picking a location that is convenient for most existing employees will help you retain their talents and increase their efficiency (and timeliness!) when getting to work.

Another location consideration is how cost is impacted. It’s tempting to want your office located centrally in a big city, but there are costs and inconveniences associated with this. Those can include a higher price per square foot, additional parking costs, and increased taxes. These drawbacks might not be a deal breaker, but they’re still important to weigh when making your decision.

Employee Demographics

Again, workplace strategy comes back to employees. Consider the demographics of your current team. Are they mostly young singles who would appreciate a cool environment in a trendy part of town? Or are they mostly married with families who would prefer a quiet and spacious work environment close to home and their children’s school? Knowing what your employees value most in their workplace should help you develop an appropriate strategy.

Physical Work Environment

Next, let’s talk about the physical surroundings in your workplace. Does it feel modern, upbeat, and energizing? Or is it dark, outdated, and depressing? Your employees are directly impacted by the feel and layout of their workspace. Even minor updates like new furniture and light fixtures can drastically improve your work environment. Prioritize these enhancements and ask your employees what would make the biggest difference for them.

Flexible and Multi-Use Space

Many businesses cite that only 30-50% of their offices are used at capacity at any given moment. That’s a lot of wasted space that you’re still paying for, even if it’s unused! A smart workplace strategy is to pick a space that’s flexible and can be easily configured for multiple purposes.

Shaping Company Culture

Workplace strategy has a major impact on shaping company culture. A work environment that encourages employees to be social and spend time together outside of work will strengthen the relationships between and retention of your talent. Additionally, the energy of your workplace will be directly felt by your employees. A vibrant and upbeat environment will energize employees and attract more of the people who will complement your culture. Also, providing perks like a ping pong table, putting green, or cafe with free coffee and snacks will make your office a place for more than just work, where people can learn, thrive, connect, and grow!

With a better understanding of the key factors that go into creating a workplace strategy, how do you feel your current work environment stacks up? What steps could you take to improve your environment?

If you’re ready to find a new space for your business to better fit your updated workplace strategy, contact us today to get connected with one of our tenant representatives.

This article was originally published on the Omni Realty Group website by Mike Kushner, CCIM. Omni was an exclusive buyer agent/tenant rep commercial real estate firm owned by Mr. Kushner prior to his joining the Capstone Commercial team. It has been adapted and reposted with permission. See the original article here.

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