Many businesses set out to achieve a perfect fit workplace but have a limited understanding of the time it takes to affect the right strategy, the roles of players who dominate the market and the way time and cost pressures conspire to diminish opportunity.
It’s common to hear business leaders say they didn’t start early enough, spent too much money and lost opportunities when faced with the challenge of relocating. Failure to grasp the situation and plan adequately could mean a wasted opportunity at best and, in the worst case, a cost blow out of millions of dollars. To avoid these risks, it is crucial to get a head start on how to manage the issues and work with the various players in the market.
If inadequate vision and needs forecasting in the planning stage leads to a dysfunctional workplace over the long term, there is a clear risk to the ability of the business to achieve its objectives.
The following information highlights the key focus areas to ensure a seamless office move.
Seek Independent Advice
Commercial real estate agents are paid by landlords (regardless of their overtures)
Leading agents will say they “represent you” even though they are remunerated by the very system that exists to make as much money as possible from you. How is it that the agent of a landlord can also represent a tenant without a conflict of interest? The conflicts are ignored as the agent, who is paid by the landlord, is obligated to look after the landlord’s interests above the needs of the individual tenant.
An end-to-end service provider which is independent of supply will ensure:
- The leasehold transaction which will fund the workplace vision
- The greatest percentage of the budget is spent on the physical environment rather than fees
- The entire CRE and workplace project equation is guaranteed in terms of time, quality and cost.
Analyse Your Business Needs
Gather the right information about your business’ current and future needs in advance. The information should include:
- Your workplace vision and strategy for success
- Data about planned and future growth
- Employee numbers and support facilities
- Employee workstyles and appropriate accommodation standards
- Enabling technologies
Don’t Waste Time
The amount of time that you allow to source and construct your new workplace will depend on the size of your workplace, the market conditions in your city, and terms of the lease that you seek.
Ensure plenty of time to go to market and find appropriate property options, as this places you in the strongest position to create competitive tension and conduct negotiations. It will also allow the necessary time for fit-out ensuring you can make informed choices and limit costly, last minute decision making.
Here is a guide to the expected time periods for your workplace move.
(To see timelines for larger spaces, download our Relocating Your Business Guide)
For an in-depth look at all considerations and stages of an office move, download our free guide ‘Relocating Your Business’