Published: 12 Apr 2022
Updated: 16 Aug 2023
Category: Compass Tips , Serviced Office , Flexible Workspace

A Guide to Choosing the Right Office Space (2022 Edition)

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The office environment is a critical factor that can impact employee engagement, productivity, and branding. It is also a reflection of the company culture. This study in particular supports the claim that an office environment is directly linked to the productivity of your employees. And yet, a lot of organisations are guilty of neglecting this part of the process in terms of building growth and success. Whether you are a new business or looking for a new space for 2022, this office space guide is what you need to get your business where it needs to be. 

6 Office Space Design Considerations

1.    Office Lease or Flexible Serviced Workspace?

When choosing a new office location, two options are typically available: conventional offices and serviced offices.

There is no single workspace solution that would perfectly fit all businesses. Therefore, it is important to assess the pros and cons of each type of workspace solution to determine the right fit.

A conventional office is usually secured from a landlord through a long-term leasing contract. The rent for the office varies based on the size of the office and the business location. Needless to say, the fact that you are tied to a long-term lease contract makes it suitable for larger teams and more established companies. It is also ideal for those with tenured employees who will require office infrastructure and space for a long period. 

However, there are distinct drawbacks associated with a long-term office lease or conventional offices. Since you will most likely enter a long-term contract, the cost of renting a conventional office is higher than modern office solutions. You will also be subject to rigid terms of a contract that will be implemented throughout your lease. Even if you are to abandon the use of the rental space, you will most likely be required to honour the contract. Essentially, it does not offer the same amount of flexibility with the lease terms as with serviced offices.

This brings us to the next workspace solution for companies looking for a new business location or office. In comparison to a conventional office, the most distinct advantage that you can get with serviced offices is the cheaper cost of rental and flexibility of the terms. Unlike long-term lease contracts, you can rent the space for as long or as short as you need it. 

This is also the reason why serviced offices are referred to as flexible workspaces. It adapts to your needs and gives you room to scale your team. For this reason, serviced offices are more suitable for startups or smaller teams that cannot afford to rent a large office space and invest in their own technological or business infrastructure. 

This is also yet another advantage that you can get with serviced offices – office infrastructure and office amenities. When you rent a serviced office, you can rid your company of the financial burden of investing in the basic amenities and infrastructure as you can have access to essential workspace solutions like high-speed Wi-Fi, meeting rooms, office furniture, and other IT infrastructure (including a dedicated IT team). 

2.    Business Location

Does office location matter? The answer is a resounding yes. The new office location should, therefore, be high up on your list of priorities in this office space guide.

A few decades ago, the location might not have been as significant as it is today. Some might argue that business location might be irrelevant, especially with many people working remotely these days. But in addition to providing convenience for your employees that do report to the office for work, it is also a crucial branding strategy.

Your choice of business location is a reflection of your company’s image, brand, and credibility. It is a crucial element that will attract potential clients and sustain existing client relationships. 

Consider this: if your business is located in Silicon Valley, it will immediately associate your brand with some of the best tech companies in the world. In this context, location does matter! It also says a lot about your company culture, aside from the obvious benefits of convenience and accessibility to your employees and visitors.

This is why Compass Offices has selected the most prime commercial and business locations with our serviced offices. We have prepared an office grade system guide in Hong Kong that will help you to match your office location with the type of business you have and the impression you want to create from customers and potential business partners/clients. 

The Compass Offices locations in Hong Kong are carefully selected to put your business at the forefront of the commercial and business activities in some of Hong Kong’s prime districts such as Sheung Wan, Central, Admiralty, and Causeway Bay

In addition, you must consider the type of industry your business is operating in so you can choose your office space accordingly. For example, financial service businesses must look for Grade A office locations that boast high-end IT solutions and amenities. It reflects the standard of your business and the potential clients that you might attract.

Furthermore, you have the option of choosing a virtual office from Compass Offices, if you have a tight cash flow and a serviced office isn’t suitable for your current setup. There are a variety of virtual office packages that you can enjoy depending on what you need to keep your business running. All of these virtual office solutions provide you with access to IT support and a business centre network across various locations in the Asia Pacific region. 

3.    Price

Price is another one of the most important things to consider when looking for office space. This is where some of the drawbacks of a long-term lease with a conventional office become evident. If you sign into a long-term lease contract, how can you afford to pay the rent when your sales take a dip? It does not offer the same type of flexibility as serviced offices in terms of renting out the office space on a per-need basis. 

This is especially true with startups; you probably have a lower risk tolerance than bigger, more established businesses. Therefore, your decisions are more cost-sensitive because you are trying to stretch the value of your budget. If you are a startup, it isn’t wise to spend more than necessary so that you can ensure consistent cash flow. 

With that said, serviced offices are cost-effective because you’re only paying for the space you need when you need it. What’s more, serviced offices are fully-equipped with the necessary office infrastructure and amenities so there is one less thing to worry about when you’re just starting out. 

The best part about serviced offices is that there are no hidden costs. You only have to pay for the services and amenities you use, especially since many of these flexible workspaces employ pay-as-you-use services and facilities. 

4.    Office Size

The office size is one factor that is often overlooked as cost and new office location tend to be higher on everyone’s priority list. However, size does matter because it can directly impact the productivity of your employees. 

While there is no exact science to this, you can determine the right office size based on two factors: the number of employees and how much space you need for every employee. When choosing office space design considerations, it is important to know that your employees need a private space for them to focus on individual projects, as well as collaborative spaces, too, emphasizing the importance of having an activity-based workspace design. The right office space must offer both types of workspaces. Don’t be afraid to ask and find out what your employees look for in an office space as well. After all, they are the ones who will be spending the most time in it. 

In addition, you should choose your business location not just based on your present needs. You must look towards the future, as well. If you plan on scaling your business, will your current office space be able to accommodate the growing number of employees? Do you have adequate space for visitors and clients, on top of your employees?

These are important questions you must address when determining your ideal office size and space. 

5.    Office Infrastructure

This is probably the most important consideration among business owners in this digital age: internet connection must be secure, reliable, and fast. At Compass Offices, we offer dual-ISP for guaranteed network connectivity. This will give you peace of mind that your team will be able to stay connected and suffer no unnecessary disruptions to your business activity. Time is money when it comes to business. And any time you spend without connectivity could translate to a loss in profits. 

However, a reliable internet connection is just one of many office infrastructure solutions that you need to look into when in search of the right office space. Additional infrastructure that you can take advantage of include 24/7 IT support, communications technology, data and voice infrastructure, and more. 

On the other hand, renting a conventional office requires that you install your own IT and internet connection service. This will require a significant initial investment on your end to startup, which could put a huge dent in the company’s finances. 

6.    Office Space Design & Style

Office space planning guidelines should also be added to your list of priorities when choosing an office space. There are two aspects to this: the work model for your employees and the branding for your business.

First off, the style of your office must be designed with the work setup of your employees in mind. A hybrid work model is fast becoming the norm in today’s workplace industry, with many employees choosing to work from home while others are returning to the office. If this applies to your company, then you need to find an ideal workplace solution that will meet the needs of your hybrid work model

The next consideration when it comes to the style of your office is in terms of branding. Going back to the point about the location above, where your business is located and how the office is fitted out can directly impact the company brand. Flexible and serviced offices are designed with aesthetics and functionality in mind. Therefore, you can take advantage of using this as your workspace solution if you need an office space that fits with your brand image and can deliver amenities that will increase employee productivity. 

If you have specific office space design considerations and need to adapt them to your business needs, find out how our experienced team at Compass Offices can help you create a custom workplace solution

Choose the right office space with Compass Offices

Finding and choosing an office space that suits your business requirement is no easy task. There are plenty of things to consider when looking for office space, just as the ones we have listed above. By identifying the essentials to a productive and efficient new office location, you are on the right track to choosing a space that serves your business needs. 

Not sure which space is right for you? We can help you with our flexible office solutions whether you are looking for modern amenities, a good location, flexibility-, value-for-money, office security or all of the above. Get in touch with us today!

 

Read More

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How to Find the Right Office Space in Singapore

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The Compass Guide to Finding the Right Office Location in Metro Manila

 

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