Downsizing Your Business Plan
Top Strategies for Creating a Downsizing Your Business Plan
Moving your office can be a challenging experience. You need to consider many things during the process, plus moving an office takes more time and is more complicated with all the high-value assets your company needs securely transported to the new space. Not to mention, you need to think about your employees and how to minimize their downtime during the packing and transporting of your office assets and equipment. This is especially true when you are downsizing your business. Office “rightsizing” can guarantee you will spend less on leasing office space and related insurance and utility costs. Plus, the results can be employees that are happier in and out of the office, more collaborative when they work together, and more likely to stick around while you make the downsizing transition.
Lile is the trusted leader in office relocation services. Our professional office moving staff will work with you to determine which services you need. We will work with you throughout the process to ensure that your move is completed quickly, efficiently, and on budget. We are here to help. For this reason, we created our top strategies and advice for developing a downsizing your business plan.
Reasons to Consider Downsizing Your Office
- Commercial real estate prices are rising with no slowing down in sight.
- You can reduce overhead by eliminating or reducing office expenses, such as rent, utilities, office supplies, equipment, etc.
- Many employees can show an increase in productivity and job satisfaction when they have the choice of working remotely.
- You can create a more collaborative and productive office environment with a condensed office floor plan.
- If manual work can be done by automation in a much better and cost-efficient way, that can reduce the number of employees.
Speak with the Experts
Tips for "Downsizing" or "Rightsizing" your Office Space
Declutter your office
The first step should be to declutter your office space with any office move, especially if you are preparing to downsize your business. You don’t want to waste money transporting IT equipment and office furniture you no longer will need. Before the packing starts, create a comprehensive plan of office assets you need to keep and other items you need to dispose of or donate because they no longer serve a purpose.
For example, this is a great time to dispose of electrical equipment, such as old computer hardware, fax machines, and printers. Furthermore, you can dispose of office furniture and decor that you may no longer need in your new office space.
Understand your team’s needs
Work with your team to figure out what their work-life will look like in a smaller space. Or, if you plan to go remote or even to a hybrid work schedule, check in with your employees to determine what they will need. By understanding their preferences, you can do what’s best for their productivity, how this varies between each task, and to what extent the office and working from home will impact their work-life balance. Involving your employees in the office downsizing plan can help them feel like they are part of the solution in the future for your business.
Find the right office location?
Downsizing your office can be an excellent opportunity to find a better location for your business. If you have fewer people coming to the office every day, you may find that moving to a cost-effective location outside the city may help reduce your costs. Alternatively, you can move closer to a city if you are looking at a smaller office space, so your employees can have an excellent work-life balance. And you may be able to tap into new talent if your office is located in a more desirable area.
Convert your files to digital
If your business still has physical files, you should consider converting them to digital format. It will make for an easier transition when corporate downsizing because you won’t have to move heavy filing cabinets. Once you scan all your files, you can store them on a secure server or in the cloud.
You can spend your lease savings elsewhere
Today, having office space is more of a choice than an obligation. Employees have shown that they can be productive from home. Often, corporate downsizing is done to cut costs, but if budget isn’t an issue, you could use the money you are saving on high-quality office space with more amenities for your teams to enjoy.
You can always upsize, again
Even though you are “downsizing” or “rightsizing” your business now, it doesn’t mean you can reevaluate your business situation in a year or even six months. You may determine that you need a larger space or could even further reduce your space. However, this does depend on your lease agreement.
Speak with the Office Relocation Experts
If you’re confused about the right move for your business, speak with one of our office relocation consultants. They will work with you on the planning and organization of the moving process. Their job is to make your office transition as easy as possible.
If you need help developing downsizing strategies for your business, contact us today at 888-507-6304 or fill out our commercial services quote form.