But in a world where your employees can work from home, a coffee shop, or countless other places, are there any real benefits to having an office space?
Absolutely. The advantages of having a physical office space are actually staggering, and in this article, we’ll show you why your business would have an advantage by having a physical location.
Attract Excellent Employees
One of the most overlooked factors of having a physical office space is that you can attract amazing professional talent.
First, let’s address the elephant in the room… does everyone really want to work from home? While some people certainly do, a recent study from the Gensler Research Institute showed shocking results. Of the thousands of people polled, only 12% said they would want to work from home full time.
Let’s flip that around and think of it another way: that means that 88% of the people want to work in an office.
By having an office space, you’re not only offering the majority of employees their preference, but you’re also able to signal stability, financial strength, and the overall health of the company.
By having a physical office you’re letting talented, qualified people know that they can bet on you because you’re here to stay– this makes it easier to attract top talent who are looking for something stable.
This is especially true for tech companies, law firms, and media/entertainment companies where just a single all-star employee can be the difference between being good or being the best in the area.
Be sure you’re fishing from the employee pool where 88% of fish are, and you’ll increase your chances of getting excellent employees.
By having an office, you’re signaling the ultimate level of credibility and stability to your customers.
Having a physical office space shows that you’re at a certain level of success financially. It also signals credibility by association because a landlord trusted you enough to rent or lease you the space. By having a dedicated physical address, it gives clients peace of mind that you won’t up and disappear one day.
And what about in-person client visits? Are you going to have clients come and have coffee with you in your kitchen?
Also, in an age where everyone Google’s your company, do you want a photo of your house coming up on Google Maps when people search for your business? That won’t instill much trust in potential customers as they imagine your company working out of your garage.
There are also some companies that wouldn’t make it if they didn’t have an office space, such as banks and financial institutions (and you’ve never seen a government branch without an office). People just wouldn’t trust it. You want to make sure your level of credibility is established and maintained by having an office space.
Security for Your Business
Many businesses deal with sensitive client information. Things like payment details, customer data, and in some cases even usernames and passwords that are needed to complete the work you’re hired for. There are also cases where the client information isn’t purely digital. To complete some jobs, you’ll need printed copies of documents– some of which would be considered proprietary or sensitive.
Customer data protection is crucial, and if you have employees working remotely you have to accept that it’s a security risk on some level.
There’s also the matter of theft or loss of your business’s property. First, there’s the risk of physical loss. Having a phone and computer in the office mitigates the risk of a work cell phone or laptop being stolen. And in the case where an employee isn’t a fit for your business, you’re not hunting down your equipment.
Loss or theft isn’t limited to physical objects alone, either. When you have an employee that isn’t working in your office space, they have sensitive materials pertaining to your business in their homes and on their laptops. Whether it’s sensitive documents errantly saved on their desktops, or being logged in to all of their sensitive work websites and leaving tabs open, your business is at risk.
When you have a physical office it’s much easier to protect all sensitive data within your space. Employees have an assigned computer, and places to house all sensitive printed materials safely.
Bullet-proof security of information (your customer’s and your own) is a must for businesses that deal in health, law, finance, and real estate.
Protect yourself and your customers by having an office space.
A Unified Team
In the Gensler Research Institute study mentioned above that proved people wanted to work in an office, do you know what people said they missed the most? Other people.
More than 70% of employees said they missed connecting with others socially and for professional collaboration. People claimed that they craved In-person meetings, socializing with colleagues, and even mentioned their fondness of impromptu interactions with others face-to-face.
Working remotely may work for some edge cases, but for a team-driven, supportive environment, nothing beats a dedicated, shared office space. Fluid collaboration is tougher from home. The study showed that more than half of workers feel that collaborating is harder when people aren’t in the same place.
A physical location where people interact with each other as they work creates a dynamic environment where people can grow closer and build trust. It also invites collaboration from unexpected places.
In a remote situation, you don’t have “chance collaborations.” In an office space, you can see someone in the hall and offhandedly ask their opinion on something, and they might have an insight that helps greatly.
The ability for anyone nearby to contribute is a powerful tool that is lost if you don’t have an office space.
This is especially helpful and beneficial for businesses that deal in consulting, marketing, and life sciences.
The Benefits are Staggering for Employees
There are many advantages that your employees gain when you have a dedicated office space.
Improved Mental Health
Office spaces are great for the well-being and mental health of employees.
A recent study conducted by Independant.co.uk showed that 41% of people felt isolated and anxious since they began working from home. The study also showed that four in ten people who began working remotely feared it would eventually affect their mental health.
When your employees are all working in the same place, they can also take note of each other’s health and happiness, the good and the bad. If someone looks exceptionally sad, other employees can visually notice and check in on them. Something like this isn’t possible without an office space.
No Distractions from Home
Many employees also admitted that it was difficult to stay on task when they were working from home. Whether it’s children arguing, people knocking on the door interrupting a task, or cats jumping onto the backs of chairs during Zoom calls, distractions are plentiful.
An office provides a dedicated, focused place to work. Additionally, many people love the work-life balance that an office provides. When they’re at the office, they’re at the office, and when it’s time to leave, there is a clear division between “work” and “home.”
In-Person Training and Development
When you have an office, training your employees can be a simple, dynamic process. Specifically, if someone needs help, they can physically seek it immediately, and get hands-on assistance.
“Shadowing” other employees is also an excellent method of training that is best done in person, allowing one employee to observe another employee actually performing tasks.
Most people prefer a personal approach when being trained, and in an office, training can be ongoing and as needed, not just a “call” or “Zoom” for an hour during the week.
Office Space for Rent, This is Your Chance
You can see that the benefits of having an office space are plentiful, and having a physical office will benefit your business.
Here are Coral Breeze Executive Offices we have spaces ranging in size and type, and we can help you find the perfect office that will fit your business.
Our office buildings are perfect for businesses of all kinds and have a fantastic surrounding area.
We can find you the right location, rental rate, and amenities.
Finding the right office in the commercial real estate world can be a challenge, but it doesn’t have to be.
Call us now.