Is your company thinking about downsizing its office space? If so, you’re not alone. According to Business Insider, “Half of the world’s biggest companies are planning to downsize office space as hybrid working continues, according to a survey from real estate agent Knight Frank. The largest firms – defined as having more than 50,000 employees – anticipate cutting 10% to 20% of their office space by 2026.” In the lifecycle of a business, as well as during economic ebbs and flows, companies often look for ways to increase overall efficiency and revenue, which results in leadership teams taking a closer look at the organization’s structure.
When that change involves relocation to a different space or reconfiguring a current office, it’s an excellent opportunity to optimize operations. Document management systems that automate workflow approvals and provide instant uploads into a business’s various applications can help ease the operational burdens often associated with such transformative times.
During a business’ downsize, it is essential to increase operational efficiencies while decreasing the volume of occupied space. Here are some considerations for navigating organizational change and how companies can successfully leverage document management systems to downsize.