June 18 2021
Five Ways to Reduce Office Rental Costs
Lockdowns have forced every individual business owner to keep a keen eye on every penny. This mostly applies to office maintenance costs and in general – a company’s operational costs. Running your own business and looking to save some money? Keep on reading!
Limiting your office space demand with a flexible contract
The first and probably the most obvious step to take is to reduce the space your business occupies. Many businesses decided to take this step during the first lockdown already, sadly also combining it with redundancies or holding off recruitment processes and merging duties in existing positions. This allowed to reduce fixed costs without significantly affecting efficiency.
Home office and ‘Hot desk’ system
Remote work is also an effective way to reduce office rental costs. More and more often employees are able to carry out their duties away from the office. Since March last year, millions of people all over the globe have been doing various office jobs from their homes or other locations of choice. Obviously it is not possible for every single position and line of business, however such cases are relatively few.
– Remote work advantages? If your business operates under a flexible rental contract, you are bound to save much on the cost of renting an office and operational costs. This is an option available to all our customers at each of our locations. All you have to do is to notify us in advance that you want to optimize or adjust the office space to your needs. Many entrepreneurs decided to reduce the rented space, because they see ‘home office’ as a chance to save their companies. Several of our tenants also introduced ‘hot desk’ – a system of desk rotation for employees who are at the office on any given day – explains Marta Kamińska from Solutions.Rent.
If you are planning to reduce your company’s running costs, you should consider outsourcing – entrusting some tasks to outside companies. This means transferring some tasks and processes to a third party based on a contract. At critical stages of business development, it is a good idea to focus on the priorities and use external assistance for any minor matters. Surprisingly, outsourcing can drastically reduce the costs of running a business. You don’t have to employ additional staff or invest in technical infrastructure. However, you need to carefully check the entity you want to cooperate with, so that you are sure that the entrusted duties are completed with utmost diligence.
Inspiring people to work more efficiently
How the business is doing depends largely on its employees. If you want them to get really involved in their tasks and work effectively, you have to motivate them at every opportunity. Employees quitting, especially on short notice, may even make completion of certain processes impossible. Handling recruitment yourself and finding an appropriate specialist usually takes time and carries a high risk of making a mistake. Prolonged staff shortages can lead to financial losses at your company. To remedy that, you should motivate your employees in the proper way, also with non-financial means. These can range from a simple praise for the successful execution of a task, through discounts for the company’s products and up to organization of internal training.
Read also: How to take care of employee relations?
Save on your bills!
Current affairs of the company occupy your full attention and you don’t have the time to verify if your utilities and external services bills aren’t too high? Catching up on this would be vital – look at your monthly bills and seek ways to save. Even changing your mobile operator or courier company can lower your operational costs. A dozen or so of such micro-savings can amount to a significantly lower quarterly total.
Are you looking for an elegant and prestigious working space? Click here and check out Solutions.Rent offices.