Rightsizing your workplace to its optimal size can increase your company’s productivity, reduce costs, and improve return on investment.
Legal work and culture are rapidly changing, and to keep up with those changes, law firms are making improvements to their office spaces. Many are “rightsizing” their office space to boost efficiency, and some are reinventing how they use their space.
Making changes to your law firm office space can help save on costs, attract and retain top talent and ensure that you’re using space efficiently. Most law firms no longer need ample space for filing cabinets, boxes, libraries and private offices. In today’s modern workplace, many files are stored digitally, many communal areas are utilized as libraries and many attorneys are working remotely or working in a private office with a smaller square footage.
In a more consolidated office, communal spaces can be used as in-person and virtual collaboration zones, and modular offices can be used as individual offices or shared offices, as needed. These flexible design features, combined with more natural light, on-demand meeting areas and advanced technologies, can help set your firm apart from competing law firms.
Rightsizing isn’t a new trend, but it continues to be a rising trend in Chicago and other cities across the globe. Chicago, the fourth-largest legal sector in the United States, is home to approximately 40,000 law firm employees. About 50 percent of these employees are located in Chicago’s Loop area, and roughly 32 percent are located in the West Loop neighborhood.
Over the past few years, law firms in the Chicago area have made the move to smaller offices to reap the benefits of rightsizing. In fact, in recent years, approximately 70 percent of large law firms in Chicago have contracted their space when completing a lease transaction, and 25 of the largest law firms currently averaging 800 square feet per attorney are targeting between 550 and 650 square feet per attorney in a rightsized environment.
The trend of rightsizing is expected to continue to grow in coming years, and as companies prepare to take the leap to consolidate their office space, there are several things to consider. From design and furniture to layout and flexible lease terms, it’s important that companies make the right decisions for their firm. And that’s where Vestian comes into play.
At Vestian, we are continuously staying on top of real estate and design trends, and we can help you Right size your law firm the right way by conducting a quick, 20-minute survey of your office and identifying effective and efficient solutions that best suit your needs. Whether you are looking to renew, relocate, or expand, let Vestian look at ALL angles so that you can make the best possible decision for you and your firm.