Expand Office Space As You Grow, Not After You Outgrow It
Many young companies find themselves scaling up their staff as projections show that more output is necessary to meet profitability goals or delivery deadlines. Bringing on new team members is an exciting sign of growth, but it does come with costs, and offsetting those costs is paramount to maintaining or growing profits. One of the most common methods new businesses use to keep expenses down as they scale up is holding on to their office space as long as possible, to delay increased spending on real estate. While this may seem on paper to be a fine solution, in reality it can cause or amplify a number of potentially serious problems.
Working conditions suffer when too many employees are forced to share a space that isn’t large enough to accommodate them. Noise levels rise, lowering productivity and raising stress levels. Keeping the office clean becomes more of a challenge, requiring more frequent work by your cleaning crew to keep trash from piling up. Lines for bathrooms increase frustration levels and lead to less productive time, while people mill about in queues for what should be a meaninglessly brief interruption to their work schedules. All of these factors conspire to throttle the innovation and productivity your company needs to grow, leaving your team bottlenecked in less than optimal conditions.
Perhaps worst of all, these conditions are impossible to hide from visiting clients, potential customers meeting with your sales team, and job candidates interviewing for critical growth roles. While in theory you can artfully dodge the client and sales problems, new hires will need to see where they will be doing business before they commit to joining your staff. Chances are good that skilled applicants, who can often choose from multiple job offers, will opt for a new employer that can offer them a workplace that doesn’t distract or detract from their ability to do their work.
One excellent way to control growth costs and expand your space according to need is to finance your office equipment and furniture through a provider like TimePayment. When you finance items like ergonomic desks and other workstations, computers, phones, and chairs, you can give your new team members new, high-quality equipment right away, and can pay for the items over time in easy-to-manage installments. This keeps your monthly costs down, and prevents you from needing to accompany each hire with cash purchases that can easily approach the cost of a month of rent in your new office space. Financing your office equipment and furniture can enable you to move into more spacious accommodations before cramped quarters start diminishing your return on investment in hiring and growth.
To learn more about leasing your office equipment, the financial products available to you, and how you can grow your company efficiently, contact a representative of TimePayment today.