How a business can maximise the ROI on an office fit out

In order to get (and stay) ahead of the competition, a business must have the means to drive growth and increase productivity; this should start with evaluating its office fit out. To succeed, the working environment that the office produces must appeal to every member of the workforce (both incumbent and future employees), across a wide range of ages and skill sets.

Putting in place changes to the design of the office will cost; both in a financial sense, as well as potential working time lost because of the disruption that the project may cause too. So to justify the costs of improving the current office design, the return on investment must be considered; will the outlay pay itself back with the benefits we need to succeed?

By understanding this, a business will be putting in place solid, workable plans to progress themselves further – any investment done on a whim has all the likelihood of failure. So in this blog, we've put together a list of ways that the ROI of a new fit out can be measured; considering all of the benefits that an office redesign brings to make for a successful project.

Creating an office fit out to maximise ROI's

Space and operational costs

The number of employers who offer flexible working patterns (such as providing opportunities for employees to work remotely) is growing. This potentially means that the office space isn't being used to its full potential regularly; at most, some employees will be using it 3 or 4 days a week. If this is indeed the case, the business will be under-utilising valuable space that could be repurposed into something else that adds more value to the operation; such as a breakout area, private working suites,meeting rooms, larger kitchen areas, health and fitness facilities, etc.

To understand the space and operational costs of their office fit out, a business must ask themselves...

What percentage of their workstations are currently not being used (and how much space this is equal to). This will give them an idea of how much working space they need to eliminate in the redesign.

What is the average cost per workstation? This includes all equipment, lighting and heating systems, cleaning, etc.

How much would the new office design save in cost for equipment, utilities and maintenance for each workstation? This number can then be compared to what it costs with the current design.

The 'added value' of the office design

To justify the level of investment that the business is prepared to make, it's vital to list the benefits that making one will bring; the added value of undertaking an improvement to an existing office fit out includes:

Employee turnover. A relatively high turnover rate of employees is never good for business success; not only does it cause disruption within the existing team/operations and garner the business a negative reputation, it will cost much on a purely financial level to replace people too – research by Oxford Economics put the cost of replacing a single staff member at £30,000.

Thinking smart with a redesign of the office can potentially reduce 'employee churn'; Workplace Insight says that as many as 48% of employees consider their current office design to have a major impact on whether they stay working for a company or not.Another of their studies suggested that 39%of survey respondents said that they left a previous role due to a 'dull'office design, whilst 22% of that number even said they would take a cut in pay if it meant them working for a firm that had a more inspiring working environment. This reinforces the need for a business to incorporate new modern design ideas into their workplace.

Productivity. The design of an office has a major impact on the productivity of employees; 2 in 3 office workers say that an inadequate office space has an adverse effect on their in-work performance. Nearly three-quarters of employees who work for firms that have 'modern work spaces'say that their bespoke, inspiring office design meets their particular needs and as a result, they find that their productivity levels increase.

Being 'bespoke' to the business and the people that work for it, the best office designs will have a variety of different spaces to suit different working styles (such as spaces for spontaneous collaboration, balanced by private, quiet areas).

Recruitment. With great office design keeping people at the firm for longer, it's no surprise that it also helps to attract the best and brightest talents too. More research from Workplace Insight says that around 41%of candidates think that the condition of the workplace is one of the factors that they take into consideration when thinking about accepting a job offer. Well-over half of people surveyed also said they would travel further for a job if it meant them working in a good environment.

What comprises a 'great office fit out' can be subjective, however – so it's important to understand who the office is being designed for.Whilst those from the Baby Boomer generation are more likely to prefer a traditional office layout with rows of desks, Millennials prefer shared and flexible spaces; can the right balance be found?

Employee Wellbeing. Giving priority to wellbeing is a key factor in modern office design and can lead to several substantial benefits, especially when businesses incorporate Biophilic design. Those offices that include plenty of greenery have reported a 30% decrease in sickness-related absences amongst employees, as well as an increase in their cognition and sleep quality.

Offices that have adequate lighting, ventilation and temperature controls can provide a positive impact on employee wellbeing, subsequently increasing productivity. A lack of good air quality and thermal comfort can reportedly reduce productivity as much as 10%, meaning that any workplace fit out project should pay attention to such design elements.

Create a unique office design that suits the needs of the employees

As briefly touched on above, a great office design is one that looks at how its people work, rather than say,one that just blindly follows the set-ups of the big companies. True, there are many a trend that would be of benefit to a business wanting to achieve a modern look-and-feel, but (as an example) an open plan office may not be suitable if the firm has a sales team spending most of their time on the phone; especially if there are other departments nearby that are engaged in different work. Finding the right balance for the individual business is key, not emulating others.

So if you're interested in improving your office fit out in order suit the needs of your employees (and ultimately, your business) why not consider getting in touch with the office design experts here at Oaktree Interiors?

Choose Oaktree for high-quality, bespoke office design

Throughout the last 30 years, the team here at Oaktree have been creating bespoke work environments that balance the fine lines between catering for employees, being functional and abiding by the brand of the company. As a result, we have established a leading service in the creation of office fit outs; our drive to constantly keep up with the latest trends and innovations in design and technology keeping us at the forefront.

Our case studies section details some of the recent bespoke work we have performed; highlighting the different types of firms we have served and detailing how we met their specific needs. If you would like to learn more about our office fit out service, please do not hesitate to get in touch with us today by calling 0345 21 86955 or send any e-mail enquiries to hello@oaktreeoffice.com and we'll get back to as soon as possible.

How A Business Can Maximise The ROI On An Office Fit Out

Creating an office fit out to maximise ROI's

Space and operational costs

The 'added value' of the office design

Create a unique office design that suits the needs of the employees

Choose Oaktree for high-quality, bespoke office design

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