To Relocate or Not to Relocate
There may are many reasons why you may be relocating your office. Sometimes it may be because there’s simply no choice due to a lease expiry. Or it may be because of changes in your business that means that your current location is no longer optimal, and that being located somewhere else would be better. Whatever the reasons are, the decision to relocate is one that is not to be taken lightly, as making the wrong move could be seriously costly for your business and have long term ramifications.
In order to determine whether relocation is the right decision, it is important to evaluate the reasons behind why a move is necessary and to determine whether the benefits truly outweigh the disadvantages.
We’ve compiled a list of things that need to be kept in mind when it comes to relocation — read on to make sure you’re making the best decision possible!
Your greatest assets
The most important asset for any organisation is their employees. As such, every decision made by management needs to consider what effects it will have on the rest of their organisation. Is the new office one that presents a much nicer environment and location? Or is the new workplace one with less comfortable surroundings, one that is much more difficult for your employees to get to? It is important to consider the impact that relocating will have on employee morale and productivity, so make sure that the move is one that is for the better.
Keep an eye on the future
Businesses change rapidly, and a decision that is right in the present may not be in the future. If you’re predicting a significant growth in your organisation over the long term, making the move to a larger facility sooner rather than later is more cost effective, even if there is a lot of unused space to begin with. Constant relocation is expensive, especially because of the disruption to operations that it causes.
Location, location, location
Postcode envy exists in the commercial real estate market too, and businesses are often willing to pay significant premiums just to have a prestigious address. At the same time, it is important to think about your location from a logistical standpoint too. For example, if you have production facilities or warehouses in outer suburban regions, perhaps an inner city office is not the most efficient solution — especially if the majority of your clients aren’t nearby.