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Impacts of Long-Term Virtual Work

When people switch to working from home, which momentarily can boost the quantity of work they accomplish each day, work-from-home (WFH) employment cannot provide the real benefits of face-to-face interaction, such as learning and new long-term connections. The benefits of in-person work on productivity are better long-term as opposed to the short-term gains from working more at home for potentially unsustainable periods. In-person work stimulates invention. The one-time benefit from the time saved on commutes will be swiftly outpaced by an even slightly greater growth rate once workers return to their offices.

 

Members of the Team have Less Human Interaction.

Not everyone wants to be “besties” with their colleagues and treat their work for work only; however, according to Business Insider interaction helps in providing a productive and enjoyable environment. It’s also a social setting in which employees get to know one another, have casual chats, bounce ideas off one another, connect as a team, and come to appreciate the business culture. Even when you are no longer obligated to attend the monthly standup meeting physically, you might not know how much you’ll miss those free workplace coffees. 

Low Employee Morale

Building relationships with coworkers is more difficult while working from home. There are fewer chances for chance meetings or social gatherings like lunches, and happy hours. 

Inability to Focus

While some professionals find the home environment conducive to concentration and productivity, others are overwhelmed with distractions: children wanting attention, spouses, and roommates interfering, and street sounds boring into the awareness.

Overworking Dangers 

The possibility of working more hours than necessary exists when you telecommute. Burnout and increased work-related stress are unquestionably consequences of this. This may be prevented by carefully outlining your calendar and allotting certain work and personal responsibilities periods. For some people, having a designated workspace where you can leave when the workday is done is essential.



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Benefits of Bringing Dogs To the Office!

 

 

Four Benefits of Having Dogs At The Office:

 

During Covid, there was a heightened increase of pet adoption at the Hillsborough County Humane Society. The trend of companies bringing employees back to the office can be a point of concern for new dog owners, who have been home with their furry, loved one. Not just new dog owners, worrying how long you are gone with your furry friend, is a concern for most pet owners. How can you remove that concern from an employee from leaving their dog at home for a long period of time? Can a company experience a paw-sitive impact in the workplace from having dogs?

 

Here are four benefits of having dogs in the workplace:

  • Reduces Stress: 

Allowing dogs in the office has been shown to help employees feel less stressed while also enhancing productivity. When an employee is allowed to bring their dog to work, oxytocin levels rise. Oxytocin is a hormone that relieves stress and decreases cortisol levels in the body and is proven to make you happier. Not only does having a dog lessen stress, but it may also help people laugh and smile more in the workplace. Both of these things help to relieve stress and anxiety. The goofy activities of a dog may instantly lighten the mood at the office.

 

  •  Increases Productivity:

The presence of a dog in the workplace may boost productivity and creativity. Employees may feel more at ease and get along better with one another. Pet owners are more productive and even creative at work when they have their dogs with them. Employees may take brief breaks to walk their dog outside, giving them time away from work. Short periods of time apart have been found by researchers to boost attention to complete tasks. Also, employees are not worried about being away from their dog while working more hours, hence increasing their productivity.

 

  • Bring Your Team Back to the Office:

Bringing dogs to work can boost employee morale. Employees are happier if they do not have to leave their pets alone, unattended at home, or pay for doggy daycare while they are at work. Especially, if employees are newer dog owners (within the last two years) their dogs are more attached (and vice versa) from working from home.  As a result, the office rapidly becomes a more relaxed environment, with happier and more pleased staff.  Employee happiness, motivation, and productivity all improve as a result. Office morale improves, and employees become happier and less anxious about getting home to their dog.

 

  • ​​Health Benefits:

It has been proven that dogs have been linked to a number of general health advantages, including lower blood pressure, cholesterol levels, triglyceride levels. Pet owners frequently have more of a drive to exercise and do other outdoor activities since pets demand time outside, which can contribute to better health.

 

Do you have a pet policy? Maybe now is the time to consider it as you evaluate how to develop company culture, hire the right folks, increase productivity and overall company morale.

 

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Downfalls of Subleasing Office Space

Subleasing office space can offer a more superior building at a lower monthly rent, providing the Tenant the ability to be in the building they desire without the hefty price tag, flexibility of a shorter term and even use of existing furniture. 

There are rights a Tenant, who decides to sublease their space, gives up when subleasing their space. These “rights” are usually located in the “Sublease” clause in the lease between the Landlord and Tenant. 

Two main examples of building signage and an option to renew the lease. 

  1. Right of building signage is more common for a Tenant who is leasing at least a full floor of a building. 
  2. Renewal options are more common in every lease. A renewal could say, “Tenant has a one time option to renew their lease at the current market rate.” If the Tenant decides to sublease their space, majority of the time, the option of the renewal is not passed through to the Sublease. 

What does this mean for a Subtenant?

Any terms that were agreed upon for a renewal, the Subtenant does not have a right to and is subject to whatever the current market rate and how the Landlord is marketing the building. 

There are two potential issue could arise when not having a renewal option:

  1. A Tenant in the building could have First Right of Offer to the said sublease space at the end of the term, this Tenant has first position and priority over the Subtenant, to lease the space.
  2. The current market rate could be higher than the Subtenant’s budget. If the Subtenant would like to move into a relationship as Tenant to the Landlord but cannot afford a direct deal the Subtenant will have to relocate. 

 Having a Tenant Representative can bring clarity when evaluating the best decision for your business to choose a sublease or a lease a space directly

 

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Is The Tampa Bay Office Market Overflooded with Sublease Office Space?

 

Is The Tampa Bay Office Market Overflooded with Sublease Office Space?

When we were evaluating the future of office space in 2020 there were several discussions of what the future of office space in Tampa would hold. I even wrote a blog explaining what I believed the two contributing factors would be: 2020 Presidential election and a second lockdown. 

Tampa Bay did not experience the second lockdown but we know other cities around the United States did and impacted their use of office space. 

Evaluating the national commercial real estate market is great when analyzing trends and an overall sense of where we are headed. We have to keep in mind, real estate markets are also very independent of the area: the people, culture, politics, and the diversification of companies somewhere like Tampa, can be different than Los Angeles. All the major headlines highlighting the surplus of office space on the market in New York, Los Angeles, and Chicago and most think Tampa Bay is experiencing the same trends. Has Tampa experienced an influx of sublease space on the market? Yes. Has it been to the level of other major cities? No. 

Why is Tampa not experiencing the same impact as other cities?

  1. The average size of an office space Tenant in Tampa is under 10,000 RSF in a 100,000 sf + building, the majority of buildings are diversified with a smaller Tenant mix. We are experiencing larger vacancies but the under 3,000 SF sublease vacancies are moving quickly in the market. The large sections of office space of sublease coming to the market are mostly Publicly Traded companies whose decision-makers are out of New York, Los Angeles, and Chicago deciding to maintain consistently from policies made at their HQ level to across the country. 
  2.  The average size company in Tampa has fewer people and privately-held businesses are the lifeblood of our business community. Smaller businesses typically have more flexibility in implementing new policies and procedures.
  3. Tampa is a pro-business environment. Tampa did not experience a second lockdown. I believe if we had a second lockdown there would have been a dramatic impact in our business community, just like NYC did. Tampa is benefiting from companies relocating to Tampa and the expansion of companies already located here. Sublease office space that might have been on the market is being subleased by companies moving to Tampa who want a smaller footprint as they grow and leveraging favorable terms. There are pros and cons to subleasing office space. A great pro can be more favorable terms of a below-market rent and shorter lease term but there can also be cons.
  4. The people component is the most important in terms of office space. Tampa has been known for diversity in backgrounds and melting pot natives with folks from all over the country. Culture in Tampa’s location is one factor but the culture of each company is different. The people who make up the culture in each company play a more important role.

As 2021 comes to an end and sights are set on 2022, the influx of sublease space has cooled down and folks will have at least 1-2 quarters under their belt of implementing back to work policies. Although office sublease inventory decreased in the third quarter, most U.S. markets are still dealing with record rates of sublease space. Additionally, unlike other major metro areas, there are no whispers of a second lockdown in our future. The data is showing to be optimistic for the Tampa office space market as we head into 2022. 

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Women’s History Month Client Spotlight Part Two

“In honor of Women’s History Month, I asked six clients who are women owned businesses to answer two questions about their success in business and one piece of advice and encouragement they would offer to other professional women. Each of these six women come from different industries and in most cases are trailblazers and trendsetters. Here are three of the women I highlighted. I highly recommend you read the advice and encouragement of the other three women too by clicking here.

I am so thankful for the opportunity to have worked with each of these women in identifying the right commercial real estate solution in Tampa Bay. I believe business is more than a transaction and I love working with companies who have an aligned mission. I can confidently say each of these women practice what they are sharing. Check out their website to learn more about their companies. If you have the opportunity to work with any of these women below, you could not be in better hands. Here’s to Tampa Bay, our business women leading the charge, shattering glass ceiling, making room at the table, spear heading initiatives and driving the heartbeat of our economy!” – Chelsea Drinkard.

Carrie Charles

BROADSTAFF

About Carrie:

Carrie Charles is the CEO of BROADSTAFF, a Technology Staffing Firm, named a 2019 Tampa Bay Fast 50 company. Carrie is the host of 5G Talent Talk Podcast and has been a featured expert on NBC, HSN and Clear Channel networks. Carrie is a thought leader on workforce development, diversity and is a keynote speaker at national conferences. She is a 2019 Businesswoman of the Year Honoree in Tampa Bay.

Carrie is a member of the Board of Advisors of Cable Runner,  a member of the Board of Advisors of NEDAS Technology Association, the Executive Director of Industry Relations for the Women’s Wireless Leadership Forum and is a sits on the Board of Directors of the National Pediatric Cancer Foundation.Carrie has a diverse background as a lifelong entrepreneur,

Certified Financial Planner, Master Certified Executive/Business Coach and the United States Marine Corps.

Best piece of advice for women in business:

“Build a personal brand and a strong network.  Leverage your network to build your business.  Be persistent in sales, sometimes it takes months or years to close big accounts. Do not take no for an answer EVER. Find another way.”

Key ingredient to your company’s growth:

“Hire the best people, even if they are more expensive. Nurture your business relationships by giving first, always give before you ask. Outwork everyone, including your team.  Have mentors and ask for advice from those who have succeeded in your field.”

 

Casey Corwin

Corwin Design and Graphics

 About Casey:

Casey has led an impressive career as a business owner and hands-on graphic designer in her thirty-five years working in the print marketing industry. In 2012, Corwin was named Business of the Year by the City of Tampa. Corwin has also been featured in several well-known industry publications and associations, including the Tampa Bay Business Journal, LinkedIn, the Florida Health Care Association and the National Association of Activity Professionals.

Serving as the CEO at Corwin Design & Graphics Corporation, Casey plays a major role in the day to day operations and mentoring her staff. Through her commitment to this role, she has helped Corwin retain valuable team members who have been with the company for over twenty years.

Before starting the Corwin team, she was the “hands on” Business Partner at The Sharper Edge from 1989-1993 where she was a printing press operator and graphic designer.

Best piece of advice for women in business:

“My biggest advice is to follow your passion and stay on track with your goals – they don’t have to line up perfectly, they just have to be followed. When the going gets tough, that’s when you’re in your jam; keep going.”

Key ingredient to your company’s growth:

“Honesty and respect to my team and our clients. Laughter and great music (it’s my day too so we all enjoy it).”

 

Angie Speller

CEO and Lead Clinician at Enso Behavioral Healthcare

About Angie:

Angie is a Licensed Mental Health Counselor and Board-Certified Counselor. She received her Master of Arts from the prestigious Rollins College. Aside from her training in Mental Health Counseling, Angie received specialized training in Dream Interpretation, Mindfulness Meditation, and Hypnosis. Her experience in the substance abuse treatment field as a clinical director for over five years, and eleven years additional experience in the field, indicates her dedication to the recovery population and community.

To say that Enso Behavioral Healthcare provides professional, ethical, and effective mental health services is true. That’s the essence of what we do but hardly tells the whole story. Our practice aspires to be a luxury beacon of holistic services, treating the mind, body, and spirit. We believe that we will be successful if our clients are successful.

Best piece of advice for women in business:

“One piece of advice that I would say to women in business is ‘don’t ever forget who you are’. It’s so important that you are represented in everything that you do. Your passion, your voice, and your vision are reflected in your work. No one, absolutely no one, is you and your business needs you.”

Key ingredient to your company’s growth:

“The key ingredient to my company’s growth is God and integrity. If I don’t enlist the support of powers greater than myself to come to my aid then I am lost. I believe there is value in investing in marketing, networking, or web designs but nothing can out measure God and asking for what I want. If I don’t ask God, the universe, or others for what I need and what my dreams consist of then I will never attract it to me. Keeping that a secret will not surprise others into viewing my success it will isolate me and keep me stuck doing it all myself. However, if I enlist the power of others support and help then they will look forward to my success and encourage my growth. Lastly integrity is paramount. I have to do what is right for people and not just myself. Selfishness and ego have never encouraged anyone to support someone. You don’t think about that selfish person and say, ‘I really want to help them succeed and do well in life’. We think this for the people who are genuine and kind and full of integrity. We want them to win at life. I want you to win at life. Be a person worth cheering on.”