Coming out of the pandemic, many brands are looking to adopt a post-COVID mentality to deal with the future needs of their businesses. So if you’re thinking about a fresh take on your organisation, the question is, what’s best for you, refurbish, or relocate?
Here are a few of the pros and cons of refurbishing or relocating to assist with your consideration process.
PRO'S OF A REFURBISHMENT
Improved employee experience and productivity
This is such an interesting point for businesses that are looking to attract their workers back into the office after working remotely for a long period. A change from completely open plan working, to a more covid-safe workspace is a great example of how a change in working conditions can help increase the productivity and experience of the staff daily.
A refurbishment is a great chance to improve the workspace you have without the cost and hassle associated with relocating. It’s also a chance to use your current floor space more effectively. If your business has changed, then it’s a perfect chance to make the area you have work more in your favour. This could mean more office space to accommodate client meetings, collaboration hubs, dedicated client facilities, or breakout and social areas to promote team culture.
CON'S OF A REFURBISHMENT
Unfortunately, when you go down the path of re-doing your existing workplace, a change in scenery doesn’t come as an option. Many workplaces in a post-COVID environment are looking to relocate their premises to be more centrally located for their employees and or clients. A refurbishment, whilst effective from a cost perspective, gives up the ability to relocate, and may only move the needle slightly in terms of effective change to a business profile.
As a primary place of work for many of your employees, disruption in the workplace is one of the biggest side effects of office refurbishment. Thankfully the past 18 months have created the ability for some staff to work remotely effectively, however, onsite construction and development of a workplace can cause issues in a business’s daily operations.
Limited physical space
Whilst you can create a new look and feel with a refurbishment, you are still limited to the physical space allocated to your existing office. For some businesses that are ramping up, this may be a limiting factor for the refurbishment option as a greater and more relevant space may be required to cater for the business's future needs.
PRO'S OF RELOCATION
More relevant location and space
Moving to a new location is going to have specific benefits for your business in the short, medium and long term. Not only will the space be more relevant to your business in a rapidly changing market, but you may also have moved to a location closer to your core staff, resulting in a range of non-direct benefits for the business. If you are a business that is ramping up, the location move is a great way to cater for your growing staff and client numbers in a professional environment.
Chance for new action
A location change is a fresh start for any business. It’s also a time to reflect and create the business model you’ve always wanted, rather than one you’re stuck with. These changes can be simple adjustments to culture or can be as radical as full revamps of a mission statement and a new direction for the future. Consider the scale of the change you want to enact when weighing up the pros and cons of a new location for your business.
The move to a new location is a great way to work with your fit-out specialist and adopt ways that green technology can assist in the daily running of the business. Sustainable design choices, solar integration, energy efficiency and innovative ways to use renewable energy are great ways to create a new environment-friendly workplace culture and set a high corporate standard for your clients to admire.
Unfortunately, throughout the process of relocating a business, not everyone is going to be satisfied with the final decision. This could be a falloff in staff retention if the business has moved to a more client-central location, but one that is difficult for the workforce. Reluctance or pushback can also come in the form of dissatisfaction with the layout and design if there is a culture that doesn’t take to change. Thankfully planning for these changes can be catered for with your fit-out specialist before making any large and defining moves with your business.
It is not a cheap exercise to relocate a business and ensure that the space you are moving into fits your future demands. Cost is not just measured by way of physical expense but by the planning and strategy time afforded to such a move. In the case of many businesses, this is the largest limiting factor in whether to relocate the business or refurbish what you already have. Work with your fit-out specialist to discover what options work best for your business, and budget!