Public perception vs what what CEO's actually look for from their office space differ. CEO's, especially Tech CEO's know that there are 3 basic things that make office space work.
Cost-Effective – Your office space lease is going to be one of the largest expenses that you have which means finding an office space lease that matches the company's financial needs is most important. However that does not mean finding cheapest space. There are many that still occupy Class A downtown office space and they do just fine. Being cost effective means you are wanting the best price compared to other spaces on the market. You also want to make sure that you are running the space at maximal efficiency with little waste.
Productivity – Office space is where work gets done, and CEO's want to get as much work done as possible. They now look for office space in areas that can reduce worker commute time. In the past they leased office space in locations most convenient to the company. They are also incorporating many design features to help drive productivity also. For example, many tech companies build out their space with open floor plans to encourage easier communication and increase levels of productivity. The use of a lot of glass and light helps make employees healthy and productive also.
Happy Satisfied Employees
It's hard for CEO's to find and keep good talent and even harder when they have a crappy office space. Nice office space design and amenities motivates employees to work harder and makes them want to keep working there. Having nice space also also makes it easier to hire employees, especially in markets that don't pay high wages. Besides leasing office space in a cool location CEO's must also think about the look and feel of the building, space, and amenities. A space with lot's of natural light that is open with lots of areas to collaborate can also be inspirational for employees. Work out rooms, cafes, and other fun areas make employees happy which may encourage them to hang around longer. Buying a good espresso machine would only cost you a couple hundred bucks…………and would save each employee about $1,000 per year from buying Starbucks and keep them in the office longer.
What Some Tech CEO's Say They Want From Their Office Space
Clate Mask – InfusionSoft – “We invested a great deal of time in our search for the ideal home for Infusionsoft as we continue this next phase of explosive growth. Chandler’s Price Corridor represents a budding center for tech companies and talent.”
Evan Williams – Obvious Corporation – “We need the right space from which to grow the Medium team and position Obvious to focus on bringing our new ideas to life. We’re excited to get three custom floors on Market Street, in the heart of downtown. Being surrounded by like-minded peers in a creative space also serves as an inspiration.”
Marissa Mayer – Yahoo! – “Some of the best decisions and insights come from hallway and cafeteria discussions, meeting new people, and impromptu team meetings. We need to be one Yahoo!, and that starts with physically being together.”
Jack Dorsey – Square – “We were very inspired by city design and by cities in general—by areas where people cohabitate, come together, and share things in a quick and easy manner. We wanted to bring that same sensibility to the office.”
Duncan Logan – RocketSpace – “When you’re a five-person startup, you find space you can afford and you probably don’t have money to do anything with it. If you’re hiring away from a big tech company, it helps to be in a good location with high-quality facilities.”