Using Incentives Wisely

October 26, 2011

To lure tenants in tough economic times, fit-out incentives are more common. To keep ahead of the competition, Landlords are making contributions to whole or part of a commercial tenant fit-out.

Using these incentives wisely has many tangible and intangible benefits that are worth considering.

So why should you consider moving?

A new premises and fit-out has many tangible benefits including the opportunity to refresh your brand. The look and feel of your space and physical location creates an identity that reflects your business ethos.

First impressions are a strong driver in the decision making of your potential clients. Your office and front of house staff are instrumental in portraying your values and culture to your network.

A well-planned office environment can also deliver great benefits to your staff. Quality planned environments designed with you and your operation in mind reinforce and assist the way that your teams communicate and interact. This is not a debate about open verses closed office planning, but understanding what is appropriate for your culture and operation.

Ellivo Architects recently went through the exercise of comparing benefits of refurbishing our existing premises against moving to a completely new space.

We were faced with spending more money on our existing tenancy to upgrade lighting, build-in storage and additional workstations to enable any growth. All that we would have achieved was enough space for an extra two people, some very expensive storage and lengthy disruption to staff and clients as we carried out the work.

The flipside – we negotiated a lease in an A grade space, with a new fit-out designed around our current needs that allowed us to express who we are.

The results include a truly open plan continuous bench arrangement has improved communication and design collaboration within the team immensely. The more flexible spaces are a better representation of who we are and our ethos, and are designed around the way we work.

A recent NSW Government study found that “In organisations where teamwork and collaboration are critical, socialising is the glue that binds a team together.” This is certainly our experience and the internal communication has improved dramatically as the design of the space reinforces our work processes.

An incentive that is carefully allocated on a fit-out that delivers on brand, message and budget can also deliver on the way that your teams function and interact.

How can you achieve all of this?

It is as simple as spending the incentive wisely and understand how your office works. These are crucial to delivering success using an incentive;

Firstly –

• Get to understand your office system and interactions. Is the current fit-out you occupy helping or hindering the way your staff and teams interact? What would you change to make the environment work for you?

• Is the current fit-out delivering on the image and message you are trying to communicate with your client and industry colleagues? Is your space supporting your business’ success? Is it time to move or refurbish?

Then –

• Find the right space and location. A design team can help to decide if the space is the right size and configuration for you operation.

• Look at how the incentives offered can be best utilised to deliver a great quality and functional work environment that reflects what you offer.

A new fit-out for your firm can be delivered with the assistance of incentives that can deliver results beyond your expectations. Designing a new fit-out for your firm is an investment that is easily delivered with the right understanding of your business, budget and the right team on-board. Making the decision to engage designers to design your new space should be an enjoyable process and result in your business enjoying the results for a long time to come.