CEO new office search insights – the results are in!
On our 25th year in the industry, we decided to survey 25 of our decision maker clients about what’s important to them when searching for an office. Without knowing where to look or what to prioritise, finding a workspace that meets the expectations of clients and employees can be a journey fraught with difficulties.
Luckily, we’re here to help! We hope you’ll find these insights useful, and if you have any questions – feel free to get in touch.
What prompts a company CEO to move office?
We asked decision makers to tell us the main reason behind their search, and discovered that more often than not, it’s because they’re a growing business and need more space to accommodate a growing team.
We can infer from these results that the startup scene is thriving, in spite of an uncertain economic climate. 657,790 startups launched in the UK in 2017, and so far 430, 464 have set up shop this year. You can track the live number on Startup Britain.
What is the number one priority for CEOs?
We got decision makers to rank the following in order of importance: Flexibility, Price, Design, Amenities and Location. Interestingly, 41 per cent of decision makers listed ‘Price’ as their number one factor when choosing an office, followed closely by ‘Location’.
Compared with lengthy leases, flexible workspaces offer great value for money when you consider the monthly fee includes everything from rent to a superfast internet connection. Location remains high on the list of priorities for CEOs – it’s important to choose a place with good transport links that everyone (including clients) can get to easily.
What do company CEOs look for in a broker?
Results show the most desired competence required from a commercial agent or broker is experience – someone who has longevity in the industry and knows it inside out. Decision makers use consultants to save time; they want someone who can present them with options that match all their requirements quickly and professionally.
As industry pioneers, Office Freedom consultants have been matching decision makers with great workspaces for 25 years. The team is comprised of people who have been working in the world of workspace for over a decade and have close relationships with both clients and operators. They’re a bit like black cab drivers of the office world – they know where every office is off by heart, along with the availability, price and features.
How long did the process take?
So long tiresome office searches! The majority of of our clients either secured or moved into their new space in less than a month. This just goes to show that flexible workspaces are incredibly convenient and perfect for people who want to move quickly or on an ad hoc basis.
Of course, depending on the size of your team and the length of your contract, it’s sometimes better to spend some time considering options and viewing as many options as possible before making a final decision.
So there you have it! By speaking with our clients we’ve learned that location and price are fundamental to the decision making process, as well as the ability to grow within the workspace and upscale easily. We’ve also discovered that experience is invaluable; having a comprehensive understanding of the industry enables a quick and professional search process.
To find out more about benefits of flexible workspace, take a look at the following articles: