Why Modern Office Spaces Matter | Toronto
Mar 20, 2020
In the past, offices have simply been a location for employees to perform their jobs. Now, companies are placing more and more emphasis on modern office designs. There is no doubt that one's surroundings can affect the work they do and a collaborative office space can increase creativity and overall feelings of positivity and satisfaction. For start-ups, it can be a big decision to invest in a modern, central office space in Toronto or Vancouver as it can often become the largest overhead of your company. When making this step, it is important to consider the non-economic benefits investing in a hub for business activity can drive. This year, our own Foxquilt team will be moving into our new office space in Toronto so we wanted to share a few reasons why office spaces can benefit your team to inspire you too:
Facebook Office Space - Source
1. Morale & Employee Productivity
There is no question that every person likes to work differently; providing a flexible workspace that empowers your employees to work in the ways they want allows them to achieve higher levels of productivity. Office spaces that offer a variety of work environments from collaborative to private areas, allow employees to choose how they work based on the task at hand. The key is flexibility.
IBM VentureLabs Markham
Additionally, employee morale is closely linked to the office environment of the company they work for. This makes sense as we spend one third of our lives at work - that's over 90,000 hours in a lifetime! For example, studies show that people who work in spaces with natural features reported 15% higher levels of overall well-being. Moreover, the respondents voiced feeling 6% more productive and 15% more creative at work.
To sum it up, offering employees the freedom to choose the way they work is great for their health and motivates them to work more efficiently.
2. Company Culture
There is no doubt that company culture is the foundation of a business's long term success. Creating a warm office environment allows companies to boost morale, inspire creativity and increase productivity. For example, having an office with an abundance of natural light will make your employees feel more creative and comfortable than in a dull, darkly lit room. Additionally, having a pet friendly office can take some of the pressure off of high-stress roles as these employees can have the companionship of their furry friend.
Rover.com Office - Source
The culture in a segregated office space will also be very different from that of an open-concept layout. It is important to consider your type of business and the type of work that the space will be used for when making design choices. One important factor that is often missed is that every employee will like to work differently. It is just as important that introverted employees who need to stay tuned in to a task-at-hand have a quiet place to work, as it is for the sales team to work in an open space for increased collaboration. However, some of the employees who prefer to work in isolation may be able to benefit from a shared space for breaks such as lunch. Researcher Ben Waber of MIT found that software developers who sat at a large lunch table had 10% fewer mistakes in their code than those who sat alone at lunch.
Want to learn more about work culture? Check out our HR tips for Business growth.
3. Talent Acquisition & Retention
With intense competition for top talent, it is essential for companies to have a central location that is attractive to their top prospective employees. Additionally, a third of office workers say that the design of an office would affect their decision to work at a company. According to Forbes, "93% of workers in the tech industry said they would stay longer at a company who would offer healthier workspace benefits, with options ranging from wellness rooms, company fitness benefits, sit-stands, healthy lunch options and ergonomic seating."
Trustmark - Source
The trend of working from home is also growing as remote communication technologies become more and more advanced; however, many employees still benefit from the routine of having a place to go each day outside of their home. This allows employees to create a division between their work and personal life that enhances mental health and overall satisfaction.
4. Coworking Spaces
Perhaps no office delivers on modern and employee-loved spaces better than coworking offices and WeWork spaces. This new trend has allowed companies to provide flexible working conditions, surrounded by benefits such as on-tap kombucha, natural lighting and networking opportunities. Driven by a more technological world, these remote offices let employees spend more time working, with their families and less time commuting. Furthermore, these options can be much more financially feasible for start-ups who are not ready to invest in their own office space, and allow them flexible contracts to scale at their own speed.
WeWork coworking space - Source
If you've decided to go with a modern approach for your new office space in Toronto, Calgary or Vancouver, there's one thing you shouldn't forget as you pick out new furniture - proper insurance to protect your new space! At Foxquilt, you can join up with other entrepreneurs and start up owners to access group savings on your business insurance.
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