How Smaller Offices Help Employees to be more Productive?

Reducing the size of office is one of the best and easiest ways to save money and also to keep the yearly budget in control. If you find any unused space in your office space, you are actually wasting the money which can be used elsewhere. You may think that a smaller office will have a negative impact on the employees’ productivity, which is absolutely in contrast to the fact that smaller office is always beneficial. Smaller office spaces will have some great advantages, which in turn help employees be more productive and creative.

Here are a few benefits offered by small office space:

1.      Less Noise: It’s quite obvious that a smaller office space can accommodate fewer employees, and definitely the noise will be lesser. It’s true that, noise can be a greatest distraction for an employee, which makes it really hard for them to concentrate on their work. But in smaller office spaces, noise will be comparatively lesser than big office spaces, which allows employees to be more creative and productive in their working hours.

2.      Ergonomic Furnishings: Generally, smaller office spaces will have a great interior design along with the ergonomic furnishings offered to the employees. As the company will not have spent a great amount on the office space, they certainly will think of enhancing the beauty by investing on interior design and furnishings. Physical comfort plays a very important role in enhancing the productivity of an employee. When they aren’t comfortable, they often keep changing the position, which kills their time as well as their urge to be creative.

3.      Access to Natural Light: Lightings at workplace is yet another factor that plays a great role in increasing or decreasing the productivity of an employee. In smaller office spaces, one single window can ventilate the vast area of the office, providing the access to natural light to the employees. Of course, there are bulbs that can mimic natural light to some extent, but the effect and freshness of natural light can never be mimicked.

4.       Great Interior: Office interior is also an important element that will have a psychological impact on the employees. For instance, the colour; colours like yellow and orange can make the employees feel creative and cosy; too much of red can bring conflicts through the aggression; blue and green can have a soothing influence on the employees. If you are on a lease term which doesn’t allow you to paint the walls, you can consider peel-and-stick wallpapers that are available in the market today.

Along with the above mentioned key benefits, small office space has got lots of benefits to offer, which make the employees feel more creative during the working hour; smaller the office, productive will be the employees!

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Why Renting Office space is the Best Bet for Start-ups?

Now that you have decided to move out of your home office to give your start-up a new start with a professional work environment, and you have to be very careful while choosing the office space you need for your business as it can be a reason for the success or failure of your business. Before you jump in to the office space, you have to decide whether you are buying the space or renting it for few years.

Which do you think is the best and safest bet? Is it buying or renting? While making this decision, you have to keep in mind that yours is a start-up, and one wrong move can be the cause for the failure. You have to consider the pros and cons of renting as well as buying.

The first thing that comes into picture is the budget; do you think you have enough capital to have an office building of your own? Will you be able to manage your employees considering all the expenses? Analysing the pros and cons, it seems that, renting has got wide range of benefits when compared to buying. Don’t you think so?

Here we have gathered the benefits of renting an office space over buying; just take a look and decide it yourself.

1. Allows you set up quickly

Just consider the prospects; if you think of buying an office space, you need to conduct a thorough research about the office spaces available for sale, as you are going to stay there permanently. Once you find a suitable space, next stands the decor, furniture, and other alterations to be done to match the space in accordance to your business. This definitely takes hell lot of time to get set, and starting your operations will be delayed too.

And in case of renting, just choose a fully furnished office space that suits your business type and start your operations. Which is less time-consuming? It’s undoubtedly renting. Isn’t it?

2. The COST

Renting an office space saves you significant amount of money when compared to buying; want to know how? Just take a look at the above mentioned point. While buying an office space, you have to spend lots of money on the things mentioned there like decorating your office space according to the business needs. It covers the wall décor, the furniture and other things. You also have to spend on setting up the phone lines and the internet.

All these costs can be saved on choosing renting the space over buying, and the saved amount of money can be used to improve your business further like training your employees to make them masters in the field, or any other developments.

3. Change according to the needs

Confused? Well, don’t be! When you buy an office space for your own, what would you do if you see that your business is growing and you want to add few more employees, but there is no space available at your office? If your answer is buying a larger space than you actually need, the next question would be what if your business doesn’t go according to the plan and you end up with space remaining empty? You will then have to think about sub leasing the remaining space which would be an additional responsibility.

But when you rent an office space, when a situation arises for you to add few more employees, you’ll always have that room to leave the current space after the term and rent the one that can accommodate your employees.

There are lots of other benefits associated with renting office space over buying, but again it’s you who has to decide as you are the business owner and you know your business prospects better than anyone else.  So choose wisely and make the plan work for you.

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Bangalore Drives Demand for Office Space in India

A top city in India has large office space transactions place is Bangalore. An office space absorption witness to more leasing activity is Bangalore with limited supply in India. Bangalore is one preferred location for entrepreneurs to start up business in India and remains the top corporate office destination in India.

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BangaloreDrives Demand for Office Space in India

Co-Working: New Cool Factor for Today’s Corporates!

Co-working has really been a cool factor for many corporates these days; new business firms today don’t really want to set up a traditional office to carry out their operations, as they hardly spend their time at office. However, they aren’t working from their home either. They actually have found a new style to carry out their work in a professional way, and it’s Co-Working. They get a desk space, Wi-Fi, conference room, copier access, soft drink and a professional working environment.

A flexible space, full-facilities and low rents are actually pushing away the traditional office spaces, and getting a new flavour of working with someone. This new style of self-employed people working with others is changing the way the people are functioning across the globe, as they are sharing their knowledge and ideas with each other. So co-working is now hailed to be the hot trend of 2016. If you haven’t tried it yet, here are few reasons for you to try!

Why Co-working Space?

·         Co-working space has got lots to offer you; you’ll get to use the office desk, chairs, Wi-Fi, conference rooms, printer, photocopy machine and lot more without having to invest much on the office space.

·         The emanation of co-working spaces with low cost memberships have been enticing the start-ups, so that numerous entrepreneurs, consultants and others who need a flexible yet professional workspace are opting out co-working plan.

·         If you have moved out of your old office space because of its high rent, co-working can be an ideal choice for you. It provides you with the bunch of benefits like low rentals, clean working area and also the flexibility to move out of the place as and when you want.

·         If yours is a start-up, all that you would need is a little space to work to cut down the hassle of spending lots on infrastructure. Co-working could be the ideal choice for you as it offers a focused environment while also allowing you to have a brainstorming session with co-workers out there.

Like all the work-driven areas, the main focus here is people and their work, as it offers full-flexibility to the workers in the shared workspace. This certainly benefits the entrepreneurs as there will be a great bonding between the likeminded people working together; they can also exchange their ideas with each other which could be a spark for a great venture ahead.

Still there are lots of people out there who think co-working is not for them! But proven results and the increasing demand for co-working spaces clearly say that it’s far better than spreading out cluster of records and documents at a coffee shop! The rise in demand for this new style of working has made it clear that the trend grows even more, especially among the people of Gen Y.

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5 Simple Tips to Keep your Office Space Organized

We all know that how an orderly and neat office space creates a way for less wasted time and higher productivity. Most of us think that organizing the office space takes a whole lot of time, which is not true. It doesn’t have to take days, organizing can be done taking little at a time.

Fact is that, maintaining an organized office space is much more effective if you see it as an on-going project, instead of looking at it as a massive thing. So if you are thinking to have a neat and organized office space, here are a few tips which can help you transform your office into an efficient workplace.

1.      Purge your Office: Just take a look at your office space and observe the things which aren’t necessary. Shred, de-clutter and get rid of the things which are no longer in use. Take your time to see what you haven’t used for quite a long time. Consider one area at a time and see if the things can be repaired and reused; if not, show them the way to the bin. This applies for unused furniture, supplies and other equipment. Not to forget the artificial plants, knick knacks and the decorations that are covered with dust; it often makes your office look shabby.

2.      Establish Work Zones: Establish the work zones to keep your office organized and neat, so that the defined activity happens only in that particular area; this avoids things messing up at office. You will probably have a main workspace (your desk), a supply area (shelves, closets and drawers) and a reference area (cabinets and binders). Make sure you use appropriate area to carry out your work.

3.      Organize your Desk and Drawers: Organizing the desk space stands in the first place when it comes to neatness. Make sure you keep your desk space clean by removing the things which are not in use and putting back only the things which are essential. Also, keep your drawers organized by placing the relevant items together in the same drawer space, like stick pads and notes, stamps and envelops, etc. It avoids clutter and provides you easy access when you need them.

4.      Clear the Piles: Pile or heap of files or any other things can add a clumsy look to your desk. Make sure you clear the heap then and there itself. Also, go through the old files and check if they are really necessary, and keep it in an appropriate place if they are necessary; dump it if they are of no use. Consider maintaining a separate tray or a folder for all those you work with. This keeps the things more organized and avoids the formation of heap.
     

5.      Assign Discard Dates: Assigning discard dates for the things which are in place for a long time helps you get them out. You don’t have to keep each and every piece of paper indefinitely. Give a discard date for the files and documents after which they can be tossed or shredded. Some documents and legal files have to be maintained for some specified length of time; make sure you know the length.

Not just the above mentioned points, you just have to be aware that the amount of effort you put in to create an efficient work place will certainly pay off in a great way. You can spend your time productively instead of shuffling the files and looking for the things you need.

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How to Design a Productive Office Space?

World Green Building Council recently concluded that there is overwhelming evidence linking the office space design and productivity of employees. But it’s not a new thing; it’s been there from quite a long time and we all know that productivity level of employees go down when they aren’t comfortable. May it be the atmosphere, temperature or the noise level; the employees need to be relaxed and comfortable to work at their best productive levels.

So, it’s really important to set the office to create the best possible working environment to make the employees more comfortable. There is no straight answer when asked, which is best among closed cubicles and open plan offices. As there are pros and cons associated with both the designs, you just have to think which design suits your business type the best and which design would be comfortable for your employees.

Cubicle vs. Open Plan

Cubicle Offices: Today, closed cubicle has almost become a synonym for ‘office space’ being employed across the major cities in India. It was designed to get the employees out of the old time open plan offices.

In 1960s, a designer called Robert Props proposed an idea of providing independence and autonomy to the employees working in office, and offered a flexible three walled design that can be reshaped to satisfy any need.

It didn’t take too long for businesses to realize that they can cram more people into a smaller space if they use cubicle design at offices. As the result, we can see majority of the office spaces designed with cubicles.

Open Plan Design: It has been the latest trend to have an open environment at office. The logic behind this is that, the employees will be more productive and happier when they work together instead of getting isolated within the walls.

Open plan offices allow employees to interact with each other which make them feel less isolated. The design also allows spontaneous interjections which helps in promoting the creativity.

Also, open plan is potentially helpful for less experienced members or interns as they can interact with the experienced employees easily.

There are lots of employees who think that privacy has been one of the major causes of work dissatisfaction, and they also complain about increased noise levels and distraction. This issue is just because the employees feel that they are being watched and they can’t just get away with their Facebook visits during work hours.

Colour and Lighting

Different colours at office can have different impact on the employees. Green makes the employees think broader and help them come up with creative ideas; Red boosts their energy; Pink gives them a calm effect and White has a modern appeal associated with it. So, while choosing the colours, make sure you consider the psychological effects of the colours.

Next comes the lighting; just check how much natural light the office is receiving and see is there any way to increase it. If you have to get settled in a windowless space, obviously you’ll have to go with artificial lighting. In such case, consider using full-spectrum bulbs which simulate daylight keeping the light soft and warm.

Ultimately it’s you who know the business well, so just look at the size of your company and the roles of employees, and choose a layout that suits the best for your business and employees. If your employees spend a bit more time on their phones, open plan might not work out for you. But if the team looks creative sharing their ideas with each other, open plan can allow your employees interact with ease. The same applies for colour and lighting as well;all that you do is not just for your employees, but also for your own

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2015 – A Favourable Year for Real Estate Industry

The office space absorption in India stood at 35 million square feet in 2015, which is the second highest absorption rate after 2011. While the vacancy in PAN-India stands at 16%, it’s just 8-9% that’s being supplied to the corporate occupiers.

The major cities like Bengaluru, Pune, Chennai and Hyderabad have a vacancy rate for office space is  just 5-10%, and they are prompting the need for fresh supply to meet the growing demands. Though, the land and construction costs are rising each day, rents have not reached a point where developers can get an IRR (Internal Rate of Return) of about 20%. This has been a main reason for developers moving away from commercial projects.

Residential Real Estate

Though the year 2015 didn’t bring up the expected growth in residential real estate, the bad days seems to have vanished. The sales have picked up in a few major cities like Mumbai, Bengaluru and Hyderabad. The initiatives taken by developers like offering attractive schemes and deal terms along with the lowered interest rates seem to have engaged the fence-sitters. The signs look encouraging; so the year 2016 seems to put an end to the difficult journey of the sector.

Retail Real Estate

The year hardly saw major happenings in the retail real estate sector. However, two big trends were noticed.

·         Consolidation of retail real estates by retailers and brands that focussed on the profit making stores closing down the loss causing ones.

·         Entry of institutional investors; this would make the single brand retail companies undertake ecommerce business independently.

More and more mature investors are expected to come and buy built-up real estate spaces in 2016.

Manufacturing and Warehousing

The year did nothing except putting a solid foundation for the manufacturing sector to get going in 2016. Under the Make in India programme, the states can come up with their own strategies, schemes and policies, which would help them in fuelling the industrial growth.  The warehousing sector seem to be reaching an inflection point and it’s sure to take a huge leap forward once the Goods and Service Tax (GST) is rolled out.

The real estate industry is getting matured each day; until 2014, the industry was highly inefficient, fragmented and unregulated. Though 2016 is expected to bring in some positive changes in the industry, the experts still feel that the industry still remains fragmented and moderately inefficient in 2016 as well! Only the growth in Indian economy can bring some favourable reflections in the real estate sector.

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Bengaluru Tops the Chart of Cities Having Great Demand for Office Space!

According to a recent research made on the corporate real estate, Bengaluru seemed to lead the demand for corporate real estate spaces among the top seven cities in India in the year 2015. The report stated that, the demand for ‘Grade A’ office space among top seven cities in the country rose up to 18%, which touched an all-time high demand of 38 million square feet in 2015.

But what has to be noted is that, out of 38 million square feet, Bengaluru led the race with the share of 32% (12.2 million square feet) driven by the demand from traditional IT and new ecommerce companies. Even in 2014, 33 million square feet was the total office space absorption in which 34.2% was contributed only by Bengaluru.

India – Established Outsourcing Destination

Anshuman Magazine, the managing director of CBRE (Real Estate Services Firm) said in an interview that, India has been a favourite outsourcing destination for many multinationals who wish to outsource their operations to major cities in India, and this has been a main reason for the sustained spurt in office transaction activity. This combined with the positive market sentiment and macro-economic climate, has encouraged office space occupier demand in the year 2015.

Areas in High Demand in Bengaluru

The micro markets of Bengaluru which saw a major increase in office absorption include Electronic City, Whitefield, Jayanagar, JP Nagar and Sarjapur Outer Ring Road (ORR) stretch. In Electronic City and Whitefield, the transactions were mainly driven by IT/ITes companies for small and large sized office spaces, but in ORR region, the demand was mainly because of ecommerce companies.

Rental Appreciation on Quarterly Basis

The report also said that, the Outer Ring Road (ORR) region witnessed the completion of three prominent Special Economic Zones (SEZ) and commercial investment grade projects.  Also, the sustained demand from occupiers and limited availability of quality spaces resulted in the rental appreciation of about 1-2% on a quarterly basis across both SEZ and IT segments.

Looking at the reports, Ram Chandnani, the managing director of transaction services at CBRE South Asia said that, the corporate occupier demand for office spaces seems to continue its growth in the coming months also. According to him, the consolidation and expansion strategies of corporate agencies will continue to be in the Greenfield projects whereas the pre-committed space will be in under-construction projects, and it seems to be true if we go with the statistics.

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