Recently, there has been a massive relocation taking place in the United States especially in the tech communities. The pandemic as well as several factors such as the US election has made many companies reconsider their location priorities and preferences. You may be wondering if moving your office to the suburbs is the best decision to make at the moment. In this article, we are going to explore the factors you may want to consider when choosing to move to the suburbs.
Cost
As a business, it is essential that you manage all expenses, whether small or big. Staying in the suburb is one great way to cut costs and to use the resources available for other aspects of the company’s growth. It is less expensive to acquire office spaces in the suburbs. The cost of obtaining a large office in the city center can be used to get more suburban facilities. For many companies who have been hit by the effect of the pandemic, the cost is the reason why they are considering moving to the suburbs.
Traffic
This is another factor that necessitated the movement of many companies to the suburbs. Although, the pandemic has reduced the volume of cars on the road. Places like Millrock Park don’t have as many cars on the road as Salt Lake. Getting stuck in traffic during rush hours can mean lost business deals. Your employees and business partners will also find it easy to get to the office with little cost and no stress.
More Space
Affordable rent means more space to rent for the same cost. By moving to the suburbs, your company can cut down on costs and acquire more space which can be useful in increasing the company’s overall asset. More space also means more fulfilling centers and warehouses.
Adoption of Video Conferencing
With the increasing adoption of video conferencing. Many meetings are no longer conducted in-person. This has gradually reduced the need to be situated in the urban centers. This is another reason why companies are choosing to move to the suburbs.
Easier Commute
When companies are brought closer to the communities, employees do not have to waste productive hours in transportation. This means that employees will get to work earlier, be more relaxed, and ultimately there will be an increase in employee retention and productivity.
Economic Impact
The desire to make an economic impact even as the pandemic has affected many communities is another reason why many companies are moving to the suburbs. People-centric companies may be interested in bringing their technologies to improve certain communities.
In Conclusion
Moving your office to the suburb is a strategic decision, and you have to decide if the factors highlighted above are important to your company at the moment. As more companies adopt remote technologies for business operations and employee engagement, there will be a need for companies to revisit the traditional approach of having the headquarter in the urban center. This may lead to an influx of companies to the suburbs.
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