As progressive companies continue to expand into the San Diego market, office space has begun to shift to the more creative and amenity-driven model that attracts today’s young talent. We are seeing the millennial workforce being drawn to employment opportunities where companies are investing in their employees as if they are an integral piece of the puzzle, rather than simply a function of the business.
There is a fine line between spaces that provide the right amount of amenities vs spaces that have unnecessary & extravagant features. Tenant’s need to be conscious of this line while considering new space, as once an agreement is struck with the Landlord, it is nearly impossible to alter the agreement. This is why we recommend that our clients carefully consider all of these factors when looking into new space. You can always add flexible employee incentives (i.e. offer employees a gym pass, cater lunches for the team, or have team building events, all which can be added or reduced based on the company’s performance) but once you agree to terms with a Landlord, what once looked like an amazing amenity, may later turn out to be outrageous fixed expense in the event of changing circumstances.
Citation & Link to Article/Picture: De Crescenzo, Sarah. “WORKING THE ROOM | What Is Cost-Effective?” San Diego Business Journal. N.p., 7 July 2016. Web. 28 July 2016. http://www.sdbj.com/news/2016/jul/07/working-room/