We understand that running a business is an extremely busy venture which leaves little time to think about reinvesting money back into it. If things are ticking over fine, then it can be hard to think of areas to improve in. Often the answer could be the very place you are reading this blog from.
A strategic interior fit out goes beyond mere decoration; it’s an investment in your business’s future. From reducing operational costs to improving brand image, the benefits are manifold.
Throughout this blog we will be looking into how interior fit outs pay for themselves and how your initial investment can go from seeming daunting to justifying itself.
Enhanced Employee Productivity and Experience
Performing a fit out or refurbishment can provide a wealth of positives to your business. Among the many proven benefits one of the most important when considering return on investment is employee productivity and experience.
Almost all fit outs we undertake have some aspect of furniture incorporated in the plan. These inclusions span from single meeting room tables to storage walls to an entire office worth of desking and chairs. When it comes to furniture, we always recommend brands and models that are ergonomic.
Musculoskeletal disorders (which includes back pain) are very common in the UK. ‘Lancashire County Council’ claims that “The total number of cases of work-related musculoskeletal disorders in 2020/21 was 470,000, a prevalence rate of 1,420 per 100,000 workers. These comprised of 212,000 cases where the upper limbs or neck was affected, 182,000 where the back was affected and 76,000 where the lower limbs were affected.”.
This stat highlights the importance of keeping your workforce happy and health by opting for ergonomic furniture. Choosing to invest in this area when planning your project will lead to increased comfort and therefore higher productivity and improved employee experience which is one area where you start seeing return on investment.
If you have recently opted for ergonomic furniture and want to learn how to properly set it up check our guide here.
When it comes to planning your project, optimising your layout is a key first step to kickstarting return on investment. When discussing the topic of office planning ‘Your Coffee Break’ claims that “A staggering 37% of people working in open-plan offices believe that the design of their workspace decreases their productivity.”. This stat helps to highlight the importance that creating a space plan which is optimised toward productivity and logistics can have on returning your investment.
Everyone understands the importance of natural light and good ventilation for their mental and physical however, what if I told you natural light is linked with creativity and therefore productivity. ‘Viribright’ claims “Exposure to natural light can enhance mood and productivity”.
Obviously improving productivity is a vital factor toward boosting return on investment when planning your office fit out. Therefore, it is important to maximise the amount of natural light your employees are getting, this can be done through a well-thought-out desk plan and the use of glazed partitioning.
Another aspect to think about is investing in and installing a suitable HVAC system. This will keep air quality suitable and avoid potential office bugs which will obviously slow productivity.
Attracting Top Talent
Everyone understands that the job market is a competitive world and attracting top talent can be difficult. It is in your best interests to do everything you can to stand out. Top talent demands the best facilities to work from so a well-equipped, flexible, modern and technologically savvy workplace is a key place to start.
First impressions count, especially when top talent or crucial business deals walk through your front door. An office which impresses is crucial to showing you’re a top employer or partner. This point is further backed up by ‘workplaceinsignt.net’ which report that “Two out of every five people (40 percent) claim their perception of a company or brand has been negatively affected by their experience in the corporate lobby or reception area.”. Simply put, taking the time to invest into your office regularly with refurbishments is worth its weight in the first impressions of the talent or deals this can lead to.
So, you’ve attracted the world class talent and signed the big contracts but how does your investment into your office continue to pay off? Well, the modern amenities you’ve installed will continue to improve logistics and therefore boost productivity for years to come.
Collaborative spaces, quiet zones and tech-integrated meeting rooms allow your employees to be at the top of their game. This allows for quicker return-on-investment times.
Speaking about technology improving productivity in the workplace, Lancaster University states that “80% of employees feel technology has a positive influence on their productivity at work” they expand that “2/3 of managers saw a correlation between technology and their organisations performance”. From this research we can cement the link between investment in technology and improved productivity and therefore conclude its effect in diminishing return on investment times.
Expanding on attracting the correct individuals to your company, this can be achieved through investing in decoration, colour schemes and artwork which displays your company brand and values. Amongst other claims around branding being productive in the office ‘digitalplus’ states that “working in a unique and dynamic space can help boost productivity levels no end.”
Furthermore, making your company values and identity clear to any visitors to the office space can help attract likeminded employees and allow you to quickly filter out individuals who don’t share said values. A similar argument can be made for stakeholders and shareholders which will further speed up return on investment.
Impressing Clients and Stakeholders
Establishing and maintaining a professional image is of vital importance in business, no one wants to work with or for a company who has a messy dysfunctional workplace as this can often spill over into other facets of the company such as admin, payments and project management.
Would you have scruffy, unprofessional employees in client facing roles? Why accept this in your office space? Simply put a clean, modern, smart office space is worth the initial investment in company image alone.
Client experience is key when trying to land lucrative business deals, you should focus on investing in comfortable, inviting spaces, which will improve client visits. Often a more relaxed approach to business environments can help foster better relationships between you and your clients and shifts the meeting from a deal to collaboration in the clients’ eyes.
Flexibility and Future-proofing
Investing in technology whilst performing a fit out or refurbishment of your office space is essential when trying to improve return on investment. ‘Yarooms’ quotes key technological advancements in office space as being “AI, digital collaboration platforms and advanced analytics” but how does including these in your project improve ROI?
The key aspect to understand in this section is the idea of reinvestment. No one wants to reinvest shortly after finishing a project so investing in the latest technology when given the opportunity is key. Technological growth is exponential, and your office space can quickly become obsolete, which if not acted upon proactively can destroy productivity and therefore return on investment.
Furthermore, it is also important to remember that technology can skyrocket productivity by improving communication between team members, speeding up and improving analysis of data. ‘The Access Group’ also highlights (when speaking about technology that) “…it streamlines workflows and makes information available at the time it is needed”. These factors will all have a huge impact on your employee’s productivity and therefore further boost return on investment.
Furniture is another area that is vital to improving return on investment. As your business grows and changes so will your furniture requirements. It is essential to invest in modular furniture with plenty of storage. Investing in this way will allow you to be flexible with your layout for easy reconfiguration if or when your needs for areas change.
Another aspect to think about when investing in furniture is futureproofing.
Thinking about what furniture you may need in the near future as your business grows is key to saving and therefore maximising return on investment.
Weaving sustainable practices throughout your fit out is a responsible way to increase return on investment by limiting recurring bills. Here’s just a few areas to focus you’re your money saving measures.
Energy Efficient Lighting
LED Lighting is obviously the way to go when kitting out your new office with sustainable light. ‘Ledlightingsupply’ quotes that “High-quality LED lamps consume at least 75 percent less energy than incandescent lamps”. They go on to state that “Since 2010, the price of LED lights has fallen considerably.”.
Smart lighting systems are a key aspect of sustainable office lighting. ‘Utilitydesign’ claims that “21% of us regularly leave the light on when leaving the house” so a similar number are likely to when leaving the office. Investing in a smart lighting system can help cut this number and reduce bills at even the most forgetful of workplaces.
Why light your office artificially when you can use natural light! With careful planning and use of glazed partitioning, natural light can go a long way.
Sustainable Materials
Incorporate recycled or upcycled materials into your fit out which will help to bring down cost, conserve energy and resources. This will obviously have a knock-on effect to improving return on investment.
Low-VOC paints and finishes should be used throughout your fit out or refurbishment to benefit employee health by improving air quality therefore improving productivity by keeping employee in the office.
Expanding on sustainable materials, flooring choice can be a large part of your fit out and one which can be easily switched to be more sustainable. Using flooring tiles from companies who specialise in recycled products is a great place to start. Companies such as ‘Forbo’ make an effort to use recycled material in their tiles and boast that their tile “Create Space 1, has a recycled content by weight of 75%.”.
Energy-Efficient HVAC Systems
Heating, ventilations and air conditioning often known as (HVAC) systems are significant energy consumers in your office environment so selecting the right one and creating a sustainable office culture around it can be key to improving your return on investment.
Although it sounds counter intuitive, upgrading your HVAC can often bring the running costs down. Newer doesn’t mean that it will use more energy, in most cases, it is in fact the opposite.
The use of smart thermostats can allow for more precise controls when heating and cooling your office therefore saving energy and bills in the long run. When linked with regular maintenance, ensuring your HVAC system is operating to full functionality, the two above points will help you start seeing a reduction in your office running costs.
Increased Property Value
One obvious area where return on investment shines through in an office fit out is the increased property value, taking a tired old office and turning it into an office ready to move into and sustain a business for years to come is a wise investment. Even if your business had outgrown the space, keeping it in good order can help you maintain the value of your assets.
An alternative way to spin this point is to think about renting space in your office. Linking back to changing uses, it’s possible some of your team need to work remotely for a long period of time. Renting out this office space can bring in a separate revenue stream however people will only want to rent in your office if it’s top of the line, modern, technologically integrated and well looked after.
To conclude, although the initial investment associated with a fit out or refurbishment of your office space can seem daunting, not only in money but also in time. When you take time to consider all the aspects where you can make back a large portion of your investment such as boosting employee productivity, attracting top talent, lowering running costs and increasing property value the initial outlay seems to take a back seat to the benefits experienced.