Wednesday, 19 April 2017

How to Keep Employees Happy?

Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful” - Albert Schweitzer.
For any company to be successful, it’s the first requirement that all employees feel happy. If they feel happy then the productivity will automatically boost. Little things count whenever it comes to employee appreciation. It doesn’t need a lot of money to appreciate employees; even smaller companies with low budget can make their employees happy.

Here we are bringing together few ways to keep employees happy and productive at workplace-

1. Incentive Programs

Performance based incentive programs always work. It's a proven way to increase employee's happiness and company's productivity. Incentive programs can be complicated in the case of ineffective planning and implementation.
It’s better to focus on organization’s main goals that everybody can help achieve regardless of their position in the company. There should be a proper system in place to calculate the performance of every individual. Points should be awarded on the basis of contribution in achieving the goals. Then after a certain interval (monthly, quarterly, half yearly and or yearly), the incentives should be paid. It will create a healthy competition at the workplace to perform better to get the incentives.

2.  Encourage Employees for Outside Lunch

When employees are working really hard they need some rest to freshen up the mind. In workaholic culture even taking lunch breaks can be seen as a luxury. Most of the employees either skip their lunch or simply eat at the desk. It should not be a norm for any organization.

3. Provide Free Snacks to Employees

Nothing can be more satisfying than snacks in the office. It's one of the most successful ways to satisfy the employees. It can be a little challenging for a new company if they don't have enough money but the good news is that it can be done on a shoestring budget. From coffee machine to fruits, chips, it can be anything. Choose anything which works for your budget and company culture.

4. Mix of Office Supplies

Although it's a very small thing to offer a variety of office supplies to the employees, but it can make a big difference in happiness index. Different people have different preferences when it comes to office supplies.
Blue pen, black pen, spiral notebooks, plain notebooks, different shapes and sizes of water bottles and multicolor sticky notes, there can be a lot of variety of office supplies. When you offer them a variety of these things they will have a chance to choose according to their preference. It can enhance creativity and make your employees more productive.

5. Help Employees in Getting Discounts from Local Businesses

A business can help another business to grow. Keeping this thing in mind a lot of restaurants and service based companies are happy to set up a discount for a local company’s employee.  You as a business owner need to find out those local service providers and restaurants to get discounts for your employees.

By applying above strategies you can make your employees feel happy about the company. It doesn’t need to be expensive all the time. It completely depends on the business model and funds you have for the employees.  
We at Furnished Office Bangalore provide best options to rent an office space in Bangalore. Please contact us today for an office space which suits your budget and where your employees love to work.

Friday, 29 April 2016

How Do You Determine The Space Needed To Set Up Your Office?

When you are all set to start a new business or when you are moving into a new building, the first question that strikes your mind is that, how much space you need for your office. As a business owner, you must be able to determine the amount of space you need for your office. But how would you do that? You just have to plan carefully, as too much or too little space can be the budget breakers.

Getting locked in a wrong space can interrupt your business significantly, making it difficult to operate. However, there are certain techniques employing which you can get into a right space. First of all, you need to evaluate your current situation and decide your expectations for the business growth over the next few years. Asking the following questions to yourself can help you come to a conclusion regarding the office space size.
  • How many employees are there currently?
  • Can employees share the space or they need an individual desk?
  • Do I have to add employees in the next couple of years?
  • When will I add new staff to the company?
  • What kind of employees I might be adding in future? Administrative, executive or sales?
Knowing how many employees you currently have and how many you would add in future, helps you operate your business comfortably, and you can expand your business easily without any costly interruptions. Basically, the amount of space you require is determined by the type of your business and the head count. The conventional space for an office space is about 150-350 sq. ft. per person; it is the type of the space you require to accommodate your business that plays a significant role in narrowing the range.
At the lower end of the range, we have the open plan design which has no private space for the employees; this configuration is commonly designed in the call centres and sales offices where desktops and workstations are grouped together. At the other end of the range we have traditional private office layout with cubicles around. Most of the private offices and law offices follow this configuration which has large conference rooms, support rooms, file rooms and pantry.
At the initial stage, you can keep an estimate of about 250 sq. ft. per person; calculating it for the number of current employees and also by keeping in mind the number of employee you would add in future, will give you a rough estimate of the amount of space you need. The rough estimation can further be refined and narrowed down when you start searching for space.
As the business owner, you’ll have a better understanding about the business and can easily identify the positives and negatives of a space, and determine if it suits your business well; you can choose private office, open space or the combination of both based on the nature of your business. It helps you to estimate the amount of space you would need during your lease term.

Friday, 22 April 2016

Indian Real Estate Market Sees the Highest Office Space Addition!

According to a recent study conducted by a global property consultant, Indian office space market witnessed the completion of 10 million sq. ft. during the third quarter of 2015 and the overall office space addition was the highest in 9 quarters. However the news to cheer is that, most of these supplies were pre committed to occupiers a few years back. This means that if an occupier decides to lease the space now, the propositions that are available are just a few.
Here are a few highlights of the report:
  •  The research has reported that, Bengaluru led the new supply addition while the development completions surged by 21% on a quarterly basis and around 44% on yearly basis. Also, the commercial and SEZ developments were completed across Pune, Bengaluru, Hyderabad, Gurgaon and Chennai during that quarter.
  • Looking at this report, the transaction service experts have said that, the availability of new office space continues to be minimal, as the developers are still facing difficulties of liquidity to undertake commercial real estate. But the fact is that, the supplies that are coming these days are mostly the pre-commitments made by occupiers in the past.
  • The business of commercial realty is highly leveraged because it’s not like the residential market where the customers start paying for the properties like apartments right from the planning stage of the project. In commercial real estate business, the developer can start earning only when the building is complete.
  • The consultants who are tracking the commercial real estate sector say that, it’s seeing an exactly opposite scenario to that of residential market, as the demand is outstripping the supply. According to the commercial real estate experts, the market is seeing brunt since when the developers stopped high leveraged developments (commercial buildings) after the global financial crisis.
  • Even though, the demand for office spaces is at the peak, there is a great dearth of quality office spaces. The scarcity of good office spaces continue in the prime locations. The supplies which are coming in are either of inferior quality or they are in the locations which lack infrastructure.
Office space absorption of more than 9 million sq. ft. was registered in the third quarter of 2015 across the major cities in India clocking the growth of about 20% on an annual basis. This rise in office space absorption, which is mainly driven by corporate occupiers from the sectors like IT/ITeS, finance, health care and ecommerce companies reflected a sustained improvement in the office space leasing across most cities.
However, the scarcity of Grade-A office spaces has compressed the capitalization rates significantly, and this has made the commercial real estate scenario seem better than what it was after the global financial crisis in 2008. This change is helping the developers who already have high grade office projects that are generating good income.

Wednesday, 17 February 2016

Forced Appreciation: A Booming Trend in Real Estate!

Forced Appreciation is buying something that’s not a good investment and turning it out into a good investment. Real estate investors can also use the force to make their investment worth their decision. Especially, the investors who own commercial properties that are value-based are prone to forced appreciation.
Assume that you can manage to get your rental to generate a little more income; this income divided by the capitalization rate will be the value your property will appraise for. So, you can force the value up by surging your income stream, and this is nothing but forced appreciation.
Forced Appreciation needs Foresight
  • The investors can’t just blindly get into forced appreciation, as it requires a foresight while buying any real estate deals, so that they can plan for the value creation. Firstly, the investor will have to see the value potential the property might have. Many times, the real key for being an ideal real estate value investor is seeing the value or opportunities that are missed by others.
  • The investors will have to analyse a few things like, are there any things that you can add to the property in order to increase the rent? Is the property capable of serving the tenants to its best? Is there any chance of redesigning the space so that it generates more revenue? Are there any services or amenities that can add more value to the property?

Make Your Strategy Work
  • Once you know how to create value to the property, you need to create a well thought out plan that lays out the vision of your value creation. The essence of your plan should spell out pointedly, how you are going to add value to your property and generate more revenue. This can help you in executing the plan; it can also help you in raising the debt and equity funds.
  • You can then sell your plan to the potential stakeholders. If you have found a solid deal having lots of value creation opportunities, it will be easy for you to get buy-in from potential partners. But finally, the ability to see the value in a deal and the ability to communicate it is the most critical thing, where you have to bring out your entrepreneurial spirit.
If you just look at it, the forced appreciation strategy looks really simple. But what’s hard to see is the hassle accompanied with the property. But a little hard work, unique strategies and marketing intelligence can turn out an average investment to a great one.

Tuesday, 9 February 2016

Commercial Real Estate Trends for 2016

The Commercial Real Estate (CRE) industry now seems to be in a solid grip when compared to the previous years. While the US economy continues to progress, the investors are seeing incredible performance across most of the property types and markets. So, what would be the future of Commercial Real Estate? Will it be fruitful? Here are the 4 trends that are expected to play a significant role in the on-going year.
  1. Global Urbanization:
It looks like the global urbanization trend continues in US as it does in the other parts, as the Millennials and boomers lookout for enhanced access to jobs and amenities, from shopping to healthcare. It’s been noted that, the US urban population has increased by 12.1% from 2000 to 2010, outpacing the nation’s overall growth of 9.7%. And, even the sub-urban seem to be taking more of an urban form, having mixed-use development and limited automobile dependence. While this trend of urbanization continues, it certainly creates a huge demand for retail, housing, offices and other property types.
  1. Rise in Interest Rates:
The interest rates seem to rise for sure this year; the forecasts may vary, but it’s more likely that, the Federal Funds Rate (FFR) will rise at least to 1% in 2016, with the treasuries of 10 years pushing fractionally higher towards 3% mark. There are number of factors for the interest rates being low for now, like limited inflation and the strong dollar. But, the Federal is more likely to weigh the effects of each and every move before it adds an additional friction to the current economic growth trends.
  1. Increased Capital Flows:
US property market is the most stable and transparent market in the world because of which it has been an easy choice for many investors. According to Real Capital Analytics (RCA), a research firm, just the foreign purchases of US real estate properties rose up to $62 billion with Norway, Canada, China and Singapore leading the wave. Looking at this statistics, a substantial proportion among the Association of Foreign Investors in Real Estate, expect increase in investments in US.
  1. Limited Supply Additions:
Limited supply additions seem to continue with only modest supply growth in the sectors like multifamily housing, student and senior housing, single tenant industrials and so on. As the last recession was a bit deep and protracted, the lending sources were extremely doubtful about funding new constructions. Also, many local and regional banks were hit by the residential mortgage crisis, and both the commercial and residential real estate were seen as highly risky sectors. Because of this many lenders decided to leave real estate, which resulted in limited supply.
Looking at the above mentioned points, we can say that the property landscape of US in 2016 will almost be similar to that of 2015. Also, many economists say that, employment situation of US would remain on its current path adding the demand for housing in various forms.

Thursday, 8 May 2014

Advancements in North Bangalore Move up the Requirement for Office Space

In the previous few quarters, the economic sector in North Bangalore has seen an exceptional bounce. The Bangalore International Airport is the
In the last few quarters, the commercial sector in North Bangalore has witnessed an outstanding bounce. The Bangalore International Airport is the pivot, which maintains all the activities concerned with real estate in the region.
The novel idea of office space in Bangalore has come into new corridors and is not limited within four walls. The only purpose of such a step is to enhance the productivity of the employees considerably. As per market statistics, the north of Bangalore has been constantly experiencing a climb in demand for commercial and office spaces. Even though, sizeable chunks of plot have been allotted for SEZ, IT and aerospace, the requirement from private entities for real estate development has been extensive.
Reason for the growth in demand for office space
Presently, there are numerous continuous constructions for mid-sized commercial offices in North Bangalore. Well known builders have commercial office assets in pipeline or under-construction between Yelahanka and Hebbal. Forthcoming IT industries on Hennur Road and Bellary Road are anticipated to arouse the development of suburbs of North Bangalore as the prime office market.
The planned location of the international airport shows up the key driver for the realty growth in the area. Rate for commercial properties have seen a rising trend mostly because of the eminent road by NHAI – National Highways Authority of India over the projected Metro Rail Link and Bellary Road.
Requirement for Office Space
Almost 2 million sq ft of space has been leased in North Bangalore in the last few quarters. As per JLL reports, the main drivers behind the development of office space are the monetary services and IT/ITes sector. Both these sectors justify about 60 to 70% of the general requirement for profitable space.
With associations planning for campus growths, the north of the city has seen a rush in requirement in demand for office space. Closeness to Outer Ring Road (ORR) also makes the area a source for office space. ORR has given an important momentum to the development of the North Bangalore along the route. With the attempts of BDS to build underpasses and flyovers along the ORR, there has been a major reduction in time travel for travelers.
The development of the 22-km stretch from National Highway-7 from the Hebbal flyover to airport and HSRL from CBD to airport have granted greatly towards the expansion of office demand in this region.
Role of Infrastructure
Infrastructure development is possibly to increase the growth of capital values. As per property experts, expansion in infrastructure has worked for North Bangalore. The first mall at Yelahanka (under construction) and the forthcoming hotel projects are probably to give huge boost to the social infrastructure.
Intended Peripheral Ring Road and connectivity to Devanahalli and International airport will boost the demand for commercial space. To add to it, the region close to the airport will experience a total alteration after the founding of International Finance Center, Hardware Park, and Information Technology Investment Region (ITIR) etc.
As per market reports, the top performing areas in 2012 were Hebbal, RT Nagar, and Sahakar Nagar in North Bangalore. These localities experienced high expectation for office space owing to enhanced infrastructure, improved connectivity and nearness to BIAL (Bangalore International Airport).
North Bangalore persists to give in significant commercial sales, owing to its reasonable price and key workplace centers. Development of infrastructure has marked the openness of the occupiers to move in this region. Thus spending in real estate projects in this area will assure profitable returns for a developer as well as an investor. For more info: Office space in Banagalore