How To Measure ROI When It Comes To An Office Refit
Businesses are always looking for ways to improve their workplaces and improve employee satisfaction with their working environment. Keeping up with the modern office is important as it is a key factor in boosting productivity, the retention of employees and generally provides a better platform for you to entertain potential customers and clients.
But with keeping up appearances, comes a price and making sure that price isn’t out of your reach or budget is important. Knowing your return on investment is key to the success of the business, and key to knowing the worth of upgrading your office and work place in general.
So, how can you measure ROI when it comes to an office re-fit?
Evaluate operational costs and space
As work patterns become more and more flexible, and the opportunity to work from home becoming more and more of an option. You will need to gain a good understanding of how much space you will actually be utilising day in and day out at your HQ. You are more likely to under utilise your space than get the most out of it if you have employees working on a flexible basis, with different shift patterns.
Before you refit your office it is important to consider the return on investment you will gain from re-fitting the entire office, or just maximising the space you will spend the most time in.
Another way that you can measure your ROI on an office re-fit is by the amount of work that is being achieved in the updated office. A well thought out and modern office should encourage an increase in productivity and should enable more work to be done in a shorter amount of time due to advancements in technology and more comfort for employees to work in.
More work getting done, means more work can be taken on, and is an ideal return on investment for an office refurbishment.
Recruiting the right people can be a costly venture, but studies show that employees who work in modern offices are less likely to leave their jobs. An office that is well looked after and has optimum access to good technology is one of the most desired things an employee looks for in their work place.
Companies who offer their employees a great place to work can expect to see a rise in employee retention, resulting in a great return on investment when it comes to upgrading the office.
If you’re looking into an office refurbishment, we would love to help at Paradigm Office Interiors. With decades of experience, we can help develop your ideas and offer sound advice on creating the perfect office space for you and your employees that is cost effective.