We all know staff turnover is part of running a company. But employees stay at a company for reasons other than money — training, advancement, mission, coworker relationships, and the vibe of your company are all part of their decision matrix.
Even if your staff is only coming to the office a few times a week, they will notice how it makes them feel. Despite the large number of people working from home, the office environment is still an important ingredient of your brand and company culture.
The good news? Right now is a fantastic time to update your office. We are seeing landlords offer enticing concessions that include space redesign and improvements to keep space occupied. This means there has never been a better time to upgrade your office space than now.
While rental rates are down across the board for office space in most major cities, the percentage that rates are down in Trophy and Class A buildings is minimal compared to Class B, which has dropped dramatically.
The battle for top talent is going to continue for many years, so don't let your dated office space keep you out of the running for quality employees. You want an office space that gives you an edge in the competitive job market.