In a tech-savvy society, there are many different ways to work. From remote working to coworking spaces, modern employees have more flexibility than ever. 

The benefits of flexible working are well-documented. Yet, many businesses are now prioritising office-based work.

Amazon, Google, JP Morgan, and CitiGroup have all mandated a return to the office in one way or another. 44% of companies worldwide don’t allow remote work, and only 16% are entirely remote.

Despite hybrid working trends, data from Savills shows that 52% of companies in London are upsizing. Meanwhile, an estimated 10.9m square feet of office space is under construction across the UK. 

Office market predictions are leaning towards some explosive growth in the sector. Many business owners are therefore wondering if office space is a good investment.

However, with hybrid models changing when and why we attend the office, it’s not a question of “if”. The focus instead should be on how businesses can use the space to maximise their investment.

Renting commercial office spaces

Rental offices offer the flexibility to move with evolving trends. Companies no longer have to commit to an entire office building for several years.

Instead, they can access private offices on a monthly or annual basis. This allows businesses to trial various set-ups and adapt according to their needs.

Companies can also hire serviced offices by the day or meeting rooms by the hour. This flexible approach minimises overheads by allowing companies to invest in office space only when they need it.

With serviced office space, everything is already set up. This allows businesses to hit the ground running and maximise productivity.

Investing in office space doesn’t have to consist of buying commercial property. Nor does it mean committing to a multi-year contract.

Re-thinking this approach and renting short-term office workspace could be a better office investment.

Why office space is a good investment for your business

Flexible rental arrangements minimise financial risks and give companies the agility to adapt. However, there are several other advantages to leasing office rental properties.

Build your business brand

Having an office presence helps create consistent visual branding.

Clients and employees associate your company with the office space you occupy. A professional and welcoming workspace that reflects your company’s values is essential.

It’s possible to rent a serviced office. You can even customise it to your specific needs.

Custom office rental allows businesses to select furniture, colour schemes, and branding. Flexible arrangements achieve this without investing in office buildings for the long term.

This allows you to elevate your brand and impress clients at a fraction of the cost.

Provide a workspace that motivates

A recent survey noted that 18% of remote workers had too many distractions when working from home. 10% also found it affected their mental health.

Another survey found that virtual meetings left 38% of remote employees exhausted.

Providing comfortable workspaces for employees to exchange information can minimise ‘Zoom fatigue’. Meeting colleagues in person can also boost morale and increase productivity.

Promote collaboration and innovation

A PWC report found that 87% of employees feel the office is important for building relationships. Another report noted that 49% of US workers found collaboration easier in an office environment.

Break-out spaces, coworking desks, and fully equipped meeting rooms encourage collaboration and boost innovation. Choosing commercial real estate with these features cost-effectively promotes teamwork.

Enjoy the efficiency

Digital innovations allow us to connect with colleagues no matter where we are. However, it’s not always the most efficient way to get things done.

Asking a colleague a question in person provides instant results. Scheduling a virtual meeting or waiting for an e-mail response can take much longer.

Bringing employees together increases accountability and enables faster decision-making. This increases efficiency, which in turn boosts productivity.

Elevate client interaction

95% of professionals believe face-to-face connections are essential for building relationships in business. Having a professional office space to meet clients in person is therefore vital.

Innovative use of managed office space can provide maximum impact for minimal cost. For short term setups, hiring office space for a week of meetings is a cost-effective way to impress clients. However, it’s long term setups that benefit the most from customising office space. For example, returning clients will continue to get a reinforced impression of your brand a company.

Thanks to this, customising the office space is a great way to make an impact, on both repeated clients and new, without putting pressure on your budget.

Encourage inclusivity

Inclusion is about embracing diversity and respecting the individual needs of all employees. While many people enjoy the flexibility of remote work, others struggle.

According to the UK Office for National Statistics, 46% of employees travelled to work because they could not work from home. Meanwhile, 10% chose to travel to an office despite being able to work from home.

From mental health to a lack of internet access, there are many reasons why some employees struggle to work from home. Creating a welcoming environment where employees can gather and connect is therefore essential.

Maintain talent

Recent reports show that younger employees are the least likely to work from home.

Access to mentors and on-the-job training is one key reason for this. Another is a lack of space or access to the required tools.

This makes having an office space crucial for attracting, developing, and keeping emerging talent.

Adopting a hybrid working model can also accommodate more employees without affecting costs. Investing in more efficient office spaces can increase headcount while reducing overheads.

So, is office space a good investment?

Commercial office spaces are great investments, especially when utilised well. Shifting the mindset from ‘if’ to ‘how’ will ensure that you get the most out of your employees and office space.

Serviced offices with customised designs impress clients and help attract top talent. Meanwhile, offices with break-out areas and coworking spaces can bring forth new ideas and opportunities.

Naturally, renting office space isn’t the same as buying and owning office space as an investment. However, considering office space rental as investing in your company with the aforementioned benefits makes it worth every penny.

The bottom line is that the right office can boost morale and increase productivity. So why wouldn’t you invest in office space?

Find office space that works for your business

Fully-equipped offices with flexible rental options can minimise financial risks and maximise investment.

At Regus, we understand the fluctuating demands of the office rental market. Whether it’s long-term private offices or meeting rooms by the hour, we’re here to help.

To find your ideal workspace, talk to a local expert today.