Are you wondering if it’s time for an office refurbishment at your company? It's a common question that many business owners and managers ask themselves. After all, your office is more than a place to work. Your office is the physical representation of your company. It can impact everything from employee morale to customer perception. A well-designed office can increase productivity, attract talent, and impress clients. On the other hand, a shabby and outdated office can worsen your talent retention and display a poor brand image.
However, office refurbishments can be complicated and expensive projects. You may be thinking " Do I need another office refurbishment if I only moved 5 years ago?" Alternatively, you may be wondering if you can justify redesigning your office given that your design is now outdated.
Every week, we speak to companies in these situations. Our advice for each company differs because there's no one-size-fits-all answer to how often you should refurbish your office. It depends on your specific needs and circumstances. For most companies, the answer is somewhere between every 5 and 10 years. However, there are some general guidelines you can follow to help you make the best decision for your business. In this article, we’ll explain 6 key considerations you should take into account when deciding if it's time for an office refurbishment.
Size of Your Office Space
The size of your company is one of the main factors that can influence how often you need to refurbish your office. If you're a small business with only a few employees, you might be able to get away with refurbishing every ten years or so. But if you're a larger company with hundreds of employees, your office space will see much more wear and tear, and you might need to refurbish every five years or even sooner.
Over time, the size of office space you need will likely change. Your headcount may have grown or shrunk, or the way your staff use the office may have changed. Just because your space needs have changed, that doesn’t mean you need to move office. Many offices have 30-40% wasted office space, so a more efficient design will enable you to reduce overcrowding without moving. If you now have too much space, you may be able to create a sublet space within your existing office.
Age of Your Current Space
The length of time since you last refurbished or relocated office will also affect if you need an office refurbishment. If your design is new, you may not need to do a full refurbishment for several years. However, if your design is old and outdated, you may want to consider a refurbishment project to modernize the space and make it more effective.
The age of the building itself will also have an impact. If you're in an older building, you may need to refurbish more frequently to keep up with wear and tear. On the other hand, a newer office will have more efficient and durable systems that will need less maintenance and refurbishment.
While it's not often thought about, your industry will also impact how often you need an office refurbishment. While your industry itself will not dictate the regularity of your projects, various industry-wide factors, such as common working models, competition for talent, and growth volatility will all have an impact.
Some markets are dominated by established, slow-growth companies, while other markets have a lot of fast growth and change. For example, a fintech company might need to refurbish its office every few years to keep up with the latest technology. On the other hand, a law firm might not require so frequent refurbishments.
Inevitably, budget is a big part of how often you refurbish your office. While available funds don’t change what is best for your company, they can constrain what is possible. Refurbishing an office can be a significant expense, so you need to plan accordingly. If you have a limited budget, you might need to lengthen the time between refurbishments. Alternatively, if you have a healthy budget, you might be able to refurbish more often.
However, there is more to the cost consideration than the initial outlay. You will also need to consider the return on investment that an office refurbishment will provide. Even if your company is cash-strapped, a design that improves the productivity of your people will rapidly pay itself off. To learn more about the return on investment you can expect from your office refurbishment, read “How to Build a Business Case For Office Refurbishment”
The working model of your company, and the way your office is designed to be used, will also affect how often you need to carry out an office refurbishment. If you have a traditional desk-oriented office design, then your needs will not change much over time. As each staff member has more space, there will also be less wear and tear. However, if you are operating a compact and collaborative design as part of a hybrid working model, then certain areas of your office may need frequent refurbishment.
Do you Need to Refurbish Your Office?
Refurbishing your office can have significant benefits for your business, including increased employee satisfaction and productivity. There is no hard and fast rule for how often to refurbish your office. Considering factors such as how much space you have and the age of your office, as well as your industry, budget, and working model will all help you make an informed decision.
In general, it's recommended that companies refurbish their offices every five to ten years. However, this timeline can vary depending on the factors outlined above. To learn more about whether you should do an office refurbishment, read “7 Signs You Need to Redesign Your Office”. If you’re unsure whether you need an office refurbishment, book a call here. One of our workspace experts will be happy to discuss your needs and help you make the best decision for your company.