Growth. Conventional wisdom says it should be the goal for every business. But 2020 challenged that assumption. Of course, you still want to grow revenue. You just don’t want to increase expenditure and complexity at the same time. So now you’re thinking: it might be smart to downsize office space in 2021.
You’ve seen how effectively your employees can work from home. Having a giant office just doesn’t seem that important anymore. Especially since it’s eating up a huge chunk of your operating budget. Here are three ways downsizing your office space can help your business thrive in 2021.
1. Reduces your operating expenses
Corporate leases can be three years or more. That’s a long time to be locked into an office space that might not meet your needs in just six months. You end up paying today for space you might not use for months or years. By contrast, executive suites let you rent the space you need and only the space you need. This frees up money for investment in real growth areas, like employee training, developing new products and services, or financial recognition for exceptional performance during a trying time.
2. Increases flexibility
If 2020 taught us anything, it’s that flexibility is the way to thrive. Shorter leases on executive suites offer the greatest level of business flexibility. If many of your employees are happily working from home, you can rent one or two small offices as your headquarters. Six months from now, when your needs change, you can add on another office or two without having to pack up and move everything.
3. Boosts employee happiness and productivity
Businesses really thrive when their employees are happy and productive. Executive suites offer a major advantage to traditional office spaces because they’re small, intimate, and private. Unlike most office spaces that provide an open floor plan with maybe a few offices reserved for leadership, executive suites treat every employee like a valued contributor.
Each office can accommodate between one and three people. They get a door they can close, high-speed internet, and room to get things done. That means employees have the privacy and distraction free environment they crave to do their best work.
If you’re ready to thrive in 2021 by moving to an executive office suite, contact Jackie for a flexible lease that leaves more money in your budget.