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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Office space Bangalore

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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Office space in Bangalore

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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Office space in Bangalore

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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5 Tips to Bargain the Finest Office Space

Once you have chose your options for office space and you like them, the next step is to acquire the best deal possible. But at times knowing what to bargain is peculiarly complicated. Landlords may be worried to congest empty spaces, but they are also keen to make up for the money and except you are not cautious, that negotiation lease you sign now can be filled with hidden charges, rising fees and clauses that knock down when you would least anticipate it. 

Obtaining great deals on office space is a blend of market timing, and good tenant planning. 

The real estate office market has strike a tipping point. With increasing vacancies and new sublease opportunities coming to market daily, when it comes to renting an office space it’s the tenants market. Rental rates are falling and will continue to do so. Landlords and Business centers are providing huge concessions to new tenants, but you won’t get the finest deal except for you know what to request. Smart business leaders know this as a suitable time to leverage their tenancy and take benefit from the market conditions. To take advantage of current market conditions business managers must bear in mind the following important success factors:

1.  What is the Optimum Price?   

When moving closer to the negotiating table, the peculiar tenant who’s doing this for the first time is most centered on obtaining the monthly rent as low as possible. This is the most frequent mistake tenants commit when a broker is not representing them.  The correct way to scrutinize a deal is to consider its total value (i.e. annual value, taxes, lease period, free rental period and other charges). That’s the way landlords evaluate deals, and that’s what you should also do.

2.  When to Initiate this Process?

Start the process early. This offers negotiating leverage and wiggle room. Initiate at least a year months before your lease ending date. Exploring the options can take 3 months, negotiating a lease can take 2 months, and if there is building new developments at another location can take 3 months or more. Set aside a generous amount of extra time for unforeseen delays in the leasing process.

3.  Don’t Give a Hint  

In no way give your landlord the feeling that their space is the only one that works for your company. Always create numerous feasible leasing options. Obtain proposals from each. Don’t grant a positive suggestion to any landlord until you have a fully executed new lease or lease renewal document with you. 

4.  Do your Groundwork

Always employ a tenant cost comparison spreadsheet. This spreadsheet comprises pricing of the potential offices you have chosen. Make the landlords completely aware of the fact that you will be directly weighing and comparing their lease suggestions with a tailored Excel spreadsheet. Put in the main factors from your different lease proposals. Make use of the resulting bottom line cost comparison as your major negotiating lever with each landlord to bring down the price of the competing sites. While making use of a tenant cost assessment spreadsheet, make sure that the landlord at each leasing option is offering you all the key cost factors you require. If it is clear that any landlord is delaying cost comparison details, just remove that property from the catalog of competing options. 

When employing a tenant cost comparison spreadsheet, pay attention to the landlord profit centers:

·         Put in key factors on base rent increases, tax and operating escalations, and other cost areas that increase over time.

·         Use the cost comparison keenly in your negotiations to eradicate, lessen or limit the landlord profit centers.

5.  Obtain a Representative 

Before starting the process, think about engaging an office tenant representative broker. If you are proficient in your business, you are most likely not a skilled in the profitable real estate office leasing business. Market dynamics change each day. An expert office lease negotiator is much better prepared to influence the market to the tenant’s fiscal advantage. Wait for each prospective landlord to be an expert office lease negotiator, controlling the office leasing market to the landlord’s economic advantage. If you settle on to employ a tenant representative, think about choosing one from an exclusive tenant rep commercial real estate firm. There are a lot of firms in the commercial real estate industry who stand for both landlords and tenants. This practice is observed by many tenants as a main clash.

Inquire your office tenant representative broker about economic details on current office leasing transactions in your local office market. The more deal your tenant rep broker has to reference, the more efficient he or she will be in influencing the local office market. Appoint your own commercial real estate architect to confirm the accurateness of the affirmed usable square footage of the office space.

Speak to other office tenants frankly regarding a potential landlord’s reputation in the areas of office building management and fair dealing.

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