How Office Fitouts Provide a Tangible ROI for Forward Thinking Companies
Companies at the very forefront of progressive thinking in terms of company culture, typically centred around Silicon Valley, California have always been the first companies to push the boundaries on company culture, and in many cases, the rest of the world soon follows.
However having a company culture that lets workers wear whatever they want, work in an office that looks more like a chill out area and offers free food and drinks, with a very comfortable environment doesn’t just work because it attracts the best talent, there’s also a tangible, measurable way to work out an ROI for investing into the company in this rarely used medium.
So how does an office provide a tangible ROI?
With offices that look absolutely incredible, with great hangout spots and scenic views, it would come to no surprise that many of their employees never want to go home.
And that’s just it.
That’s why it works.
A quick example:
When you have extremely talented developers, executives and staff members that are commanding salaries sometimes upwards of £200k, having them stay back a couple of hours per week can be extremely valuable to a company.
As an example, someone earning £200k a year roughly gets £96.15 an hour, if they stay back an extra 2 hours a week to enjoy some free food and drinks whilst finishing their work for the day, over the course of a year that business has accrued a whopping £10k in labour from one employee, in one year.
For an entire company.
Let’s make that a bit more realistic, and say that around 50 developers a year accrue that amount of time, that’s £500k a year of labour, or £5 million in 10 years a company will get out of it’s most profitable staff.
For someone to earn £200k it goes without saying that they’re in the top of their field, and they’re definitely providing their own ROI to a company, which is extremely hard to track exactly what an hourly ROI for one of these top developers would be. However even if we look at the raw ROI, £5 million in 10 years can make an incredible difference to a company, especially when it comes in the form of free labour from their most valuable staff.
Now of course this takes a lot of investment to get right, however as many companies copy what the likes of Google and Facebook do, they lack the understanding and some fundamental pieces of the puzzle to truly track the ROI of their actions and end up wasting their money.
Having an office that is ergonomically designed, looks attractive and provides the right kind of spaces for employees to feel at home will increase their overall productivity.
On top of this, it will also play a major part in attracting the market’s best talent, perhaps even at a reduced cost. However the tangible ROI on this is harder to ascertain, so we’ll leave it out of the equation.
What does this mean for you and your business?
If you’re a small business, you may not have the budget to create offices to the same extent of which Silicon Valley giants are able to, however that doesn’t mean that you can’t copy the best aspects of their company culture and create an office which is well suited to not only work needs, but to have the office meet their social and other needs so that they can work at full capacity.
Adding some decor or giving your office a theme, creating designated chill-out areas and having an ergonomically designed office can really make a difference to your employees, combine this with a great company culture and office atmosphere and you will most certainly get an ROI.
Having a great office is one of the first things that potential employees will notice before having an interview, so showing them a great working environment really gives leverage when trying to attract them or negotiate a contract.
Our Designs
At Office Options, we understand that an office is more than an office. There are lots of multi varied factors that come into play that will make a significant impact on your business. We have experience in creating office spaces that are ergonomically designed, fit the company culture and can play a part in generating ROI as well as increase productivity and employee retention.
We specialise in office fitouts and are experts in the entire scope of projects, from early conceptualisation to the project management of the build.
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