Office Space Cost per Employee: Making the Most of Your Budget

Although having an office space is often a necessary business expense, it can quickly become one of the costliest aspects of running your company. This is because the traditional workplace comes with rental costs, equipment costs, taxes, and other associated expenses that make the cost of office space per employee high.

This calculation doesn't even include other expenses like utilities, equipment maintenance, and common areas, which make the true cost of the workspace per employee even higher. To mitigate these costs, consider an alternative approach to your office space that better aligns with your budget. No matter whether you opt for an open floor plan, co-working space, or virtual office, the simple steps below can help ensure you get the most out of your budget.

Lowering Energy Waste

Regardless of how your workplace is organized, invisible energy waste can easily rack up costs over time due to equipment, lights, ventilation systems, and devices running in the background.

To ensure energy is used as efficiently as possible, you can take steps like installing motion sensors or smart thermostats in your office space.

■ Discover the importance of a green workspace

Exploring Other Working Models

Exploring other working models, such as hybrid work models, can effectively reduce your office costs. This is because you can implement practices like hot desking and remote working to cut back on your physical office space and make sure you're using your remaining office space optimally. While hotdesking can significantly reduce the cost of office space per employee, remote working can eliminate office costs altogether.

■ Get inspired with these hybrid work model examples

Choosing an Open Office Layout

Open office layouts are becoming increasingly popular because they foster collaboration and creativity among teams while saving businesses money on office space costs in the long run. By eliminating private offices and cubicles, you'll incur fewer overhead costs and make the most of your budget.

■ Let your team benefit from an open office space

Make the Most of Your Budget With the Right Software

Making the most of your budget in terms of office space is all about being mindful of all the costs that come with it. Exploring options such as co-working spaces, virtual offices, and open floor plans can help reduce overhead costs while still providing employees with the necessary resources.

Automating many of your office space management processes can also help to save costs as well as time. POC's office space management software allows you to manage workspace planning, bookings, and finance from one platform, thereby optimizing your budget and helping you reduce the cost of office space per employee.

■ Book a demo to explore POC's features