The ROI of Office Space Planning

Rent, maintenance, and other costs of your physical space are among the largest expenses for your business. Occupy too large a footprint, and you risk overpaying for space you don’t need. Outgrow a postage stamp, and run the risk of lowered productivity due to distractions. But changing any of those things requires a significant investment, and of course, you want to make sure you’re going to see a return on investment (ROI).

We’re here to make a case for the importance of a strong office design bolstered by empirical evidence for the ROI of office space planning. 

Measuring the ROI of Office Space Planning

In New York City, office space comes at a premium, and inventory is often in flux, putting the pressure on business owners and operators seeking the perfect home base for their endeavors. Measuring the ROI of office space planning isn’t an exact science, but it is the first step to ensuring you’re doing everything you can to make your workplace a cost-effective and productive environment.

Here are our practical action items for measuring the ROI of your office space plan. 

Key Benefits of Office Space Planning

• Improved Employee Satisfaction: When employees feel comfortable at the office, they’re more likely to bring their best selves to work and stay with the company longer.

• Enhanced Productivity and Collaboration: Thoughtfully designed workstations with ergonomic setups and organized pods balance focus and collaboration opportunities. Provide various working areas, like private meeting rooms, soundproof pods, and desk clusters, so you can accommodate different work styles and types of work. 

• Optimized Space Usage: Office space in New York costs $60–$100 per square foot every year. When you don’t take advantage of or otherwise misuse the space, you end up paying significantly higher maintenance, utility, and rent expenses. In optimized spaces, these costs are kept at their most effective minimums and can reduce expansion demands in the future.

• Easily Defined Brand Identity: Optimized offices are representative of your company’s values and culture. When you have a well-designed office that maximizes every inch of usable space, employees and visitors are quickly aligned.

• Adaptability: Offices aren’t fixed ecosystems. They’re always changing. Optimized office spaces harness the power of change by creating flexible and adaptable spaces with modular furniture, operable walls, soundproofing, and more. 

How to Maximize The ROI of Office Space Planning

Harness Data-Driven Decision Making

Before you do anything to your office, we recommend measuring how it’s currently working for you. Conduct space audits, gather data on regular office attendance, survey your employees, and establish key performance indicators that demonstrate your organization’s broader goals. 

Optimize Current Space Usage

Work with a professional to implement strategies that make the most of your current space. Consider adding storage to vertical space, curating flexible work stations, embracing hybrid work when possible, and implementing work areas that can evolve. Once you’ve optimized the space, you’ll have a clearer idea of whether you need to expand/downsize or stay put in your current place.

Create Multi-Functional Spaces

Design areas that can create a dual purpose. Consider a pantry or lounge that doubles as a team-building or morning stand-up area. Offer an indoor-outdoor gathering space for employees to collaborate after hours or take a private meeting. These spaces allow your workforce to make decisions throughout the day, giving them more flexibility and autonomy, which often translates to better employee satisfaction.

Identify Employee Wants and Needs

Your employees are the lifeforce of your business, so checking in with them, asking questions, and implementing their feedback into your office space plan will directly translate to their work. Proactively asking questions also builds rapport, trust, and community, which improves collaboration. 

Integrate Technology

Smart technology, sensors, and cutting-edge tools keep you at the forefront of your industry. When word gets around that you offer a high-tech workplace, you’ll attract not only best-in-class talent but also your ideal clientele.

Continuously Re-Evaluate

Optimized office designs are fluid and flexible, meaning they often have to be changed and updated to keep up with trends and competing priorities. Don’t be afraid to revise your floor plan and layout to suit today’s needs. You can always make updates again later.