The decision to renovate can be more than a little intimidating. Office renovations can be costly, in terms of both time and money, but they can also become a very profitable endeavor. Below, we will take a closer look at some of the best reasons to consider renovation (such as one pictured above for Capital Management Group) and how a short-term investment in renovation may provide serious long-term improvements to your bottom line.
Improve Productivity
A new office can improve morale and productivity when your previous facilities were insufficient for your employee needs. Anyone who’s had the misfortune of being crammed in a puny office, or shared a puny office with several colleagues, can tell you all about how detrimental it can be to their performance.
You don’t have to take their word for it. A Harvard Business Review study found that there were multiple issues presented with poor work spaces, most notably:
- One company was observed wasting 10.4 minutes per employee per day searching for meeting spaces.
- Email volume was reduced by 50 percent when cubicles were eliminated.
- Almost two-thirds of employees (56 percent) felt the work environment was more stimulating following a renovation.
- Minutes lost to distraction (per employee) dropped from 19 minutes pre-renovation to just 7 minutes post-renovation.
Overall, researchers believed that a combination of open space and private space choices (i.e., letting employees control their work space), an emphasis on collaborative space, specialized rooms (e.g., meeting rooms) and plenty of natural lighting boosted worker productivity and satisfaction. That’s why top companies like Google and Pixar spare no expense in creating lavish environments for their employees. It’s not special treatment, it’s all business.
Renovation provides you with the opportunity to give all your employees exactly what they need to get their job done efficiently. If your building is older, it also provides you with the opportunity to gain access to new ergonomic designs that are more suitable to sitting at computers for extended periods of time, and to improve lighting conditions.
One study by the Scientific Journal found that appropriate lighting may be the single most important factor for employee productivity. That’s because full spectrum lighting isn’t just a matter of illuminating a room, but also a matter of the psychological impact of a well-lit area. It’s been long understood that insufficient access to natural lighting is one of the causes of seasonal depression, and the short term impact of poor lighting can be a substantial drag on employee morale.
Company Image
Your employees may be the ones who used your building, but that’s only half of the picture. From the second they enter your building, clients or would-be clients begin to assess your business, and your office is arguably the most important physical manifestation of that first impression. Anytime you visit a professional practice that’s invested in aesthetic elements for their building, you can be certain it’s not simply because the owner is vain. The design pictured below for financial company Aviva showcases a clean, stylish and professional brand that properly represents the quality of their services.
Repair Wear and Tear
Time can wear even the best building to ruins. Fabrics get ripped or stained, roofing suffers from years of assault from the elements, and dated office designs can be a serious detriment to anyone trying to do work in the digital age. And if your property was built before 1978, it’s possible your building contains serious safety hazards, from lead paint to asbestos. Occasionally these breakdowns can compound on each other and end up costing you even more in the long run.
Renovation and the Bottom Line
Unfortunately, many people view renovation as a chore to be avoided or burden on their finances, but the truth is that renovation is often a critical element in the growth of a company. An office built for the 21st century can help you attract the best talent, retain those employees in the long term, and improve productivity for existing members of your team. Cumulatively, these factors can provide you with an improvement in your bottom line that can make renovation one of the best investments your business can make.
