Should I stay or should I go?

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Five questions to ask when determining if you should renovate or relocate

Your lease is expiring soon. Your company is in growth mode. And your current office space looks like a scene from Mary Tyler Moore. You need help – and fast. But do you stay and renovate your existing office space or do you start from scratch by relocating to a whole new office building?

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The answer to this question is never an easy one, but asking yourself the following five questions should at least help get you and your organization on the right track.

What are your long-term business goals? Can these be accomplished in your current space? Analyze the current working style of your company and compare it with your company’s plans for the next five to seven years. Do your office space and its current location correspond with your company’s values and represent you proudly? Based on growth projections, should the floor space be increased, decreased or simply modified? Does it make sense to consolidate some of your functions?

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  1. Where do you want to be located? According to What Workers Want?, published in 2013 by Savills and the British Council for Offices (BCO), 73% of employees aged 18-34 years rated location as the greatest influencer on employment decisions. THIS IS HUGE! Make sure you ask the following: Is the building located near transportation hubs? Are there any amenities available? Is the location optimal? Is it easily and quickly accessible for employees and your clients?


  1. What do your employees want? Survey, survey and survey your employees again. According to What Workers Want?, employers should take into account what their employees want before they make any major decisions. Employees want to know that they had a part in the decision making process. They want to be heard. And listening to them will give you a much better idea of what type of environment best motivates and incentivizes them.


  1. If you decide to renovate, do you have a place to go in the meantime? Do you have a temporary space within the same building for your employees to relocate to while the renovations are being accomplished? Renovations can take months to accomplish – and the last thing you need to worry about is compromised productivity.


  1. If you decide to renovate, can you afford to make every change you want? Renovations can be expensive – especially if you want to implement a major overhaul. But if done right, they can be worth every penny. In fact, renovations can be just the ticket to energizing an otherwise lethargic workforce. Not only will employee productivity and satisfaction increase, but employee turnover is likely to decrease at the same time.
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