Since the COVID-19 pandemic, we’ve seen a dramatic shift in how businesses choose to run. Physical locations were shut down or even sold, and employees found themselves relocating to their couch as their work-from-home days began. Now, two years later, we see that businesses continue to find ways to adapt to the evolving times. This includes opening up a physical location again, whether an owned office space or shared. We’re finding many owners are up in arms on if they should require a physical presence in the office or if virtual is still the way to go. What are some advantages and disadvantages of reopening a physical space?
Having a physical space for your team to meet and collaborate is something that can never be fully replaced by a video camera. Bringing your team together creates a more cohesive and accountable group. Virtual meetings can be convenient and quick, but nothing can substitute real human interaction.
Working remotely can also be isolating for some, so re-opening a physical space for your team may be just the change some employees need. This could add to employee motivation and, as a result, productivity.
A physical location also provides a place for clients or customers to stop in for meetings, see your business in action, get to know your team, and feel as though they have a place to come when needed.
The major downside to re-opening a physical space is the added cost. By cutting out rent, utilities, and other costs that come with owning or renting a space, your business has been able to re-allocate that money to purchase work-from-home equipment for your team, hire additional employees, or even just save more monthly. To invest in a physical location, you would need to establish a new budget and financial plan for your business.
Some employees may still be hesitant to work all day in a shared space. It’s important to take into consideration the needs of your employees. Re-opening a physical location means you would need to create and execute a plan for employees to come back into the office.