Big benefits for big companies
Staff wellness and productivity are two key trends driving growth and diversity in today’s flexible workspace sector and big businesses are taking full advantage.
Some of the world’s largest corporations have recognized the benefits of coworking and have taken advantage of the opportunity, committing millions of square feet to flexible space over the last decade.
Supply of flexible space is increasing rapidly. In fact, flexible space forecasts for both Europe and the US suggest momentum is building on both sides of the Atlantic. Industry estimates predict that the continued shift towards flexible workspace and shared amenity spaces are projected to account for approximately 30% of the global office market by 2030. Flexible workspaces in the USA alone grew 20% year on year in 2017 with over 27 million square feet available. The top three city locations; New York, Chicago and Atlanta, each offered more than 2 Million square feet of flexible space.
“more operators, more locations, more space… more choice”
The number of operators of flexible working space are at an all-time high, providing more space at more locations than ever before. Conventional landlords are now entering the market joining the established players in this growing sector. This provides customers with more choice and greatly widens the appeal of flexible office space to large corporations.
Ten key reasons why corporations are choosing flexible workspace
10. Staff wellness
Flex office centres have many amenities and staff friendly features such as coffee shop style breakout areas. They promote employee well-being and happy employees lead to increased productivity.
9. Short or long-term leasing
Space may be hired for a day or several years. Whether it’s office space, meeting rooms, virtual offices, day offices or business continuity/disaster recovery, corporations are choosing flexible spaces on flexible terms.
8. Absolute flexibility
In an unpredictable world, uncertainty demands flexibility. Flexible office space enables large corporations to upsize or downsize at short notice, without having to relocate.
7. Immediate occupation
Companies can move immediately into furnished, internet and telephone ready space. License agreements are usually 1-3 pages long and can be signed very quickly – legal costs are either not applicable or nominal.
6. Bespoke configuration
The choice in types of office space for large companies is very wide, from managed offices to coworking spaces. Most spaces can be customised to meet the customer’s requirements.
5. Staff productivity, recruitment and retention
Large corporations know the positive benefits of great work spaces on staff and their productivity. Corporations know that the working environment is also a key factor for recruitment and retention.
4. Great spaces to stamp your identity
Today’s flexible workspaces are contemporary and creative spaces with state-of-the-art meeting room facilities. Gone are the days of mundane, dated office space. Corporations welcome the fact that the majority of flexible office spaces now provide un-branded, self-contained and private space they can make their own.
3. Flexibility and access to talent
The transient nature of the fast growing “gig-economy” has fuelled the need for short-term agreements and contractual flexibility. Flexible spaces, and in particular coworking spaces, provide corporations with easy access to innovative ideas. Flexible spaces tend to thrive on collaboration and social interaction and also attract start-ups with ground breaking ideas and the newest talent.
2. Speed to market
Fast access to key markets is a primary concern for corporations. They need to be located where there is easy access to the resources and talent required to capitalise on business opportunities. Flexible spaces provide the fast access they need.
1. Cost reduction
Flexible and coworking spaces allow all companies, big and small to save money, provided they choose the right space. Companies can make substantial savings on office rental, fixtures and fittings, utilities, IT, security and staff amenities. Significant growth in flexible space and competition within the sector is lowering office costs in many locations. Richard Smith, CEO, Office Freedom – “In many cases, looking at the entire cost-benefit equation, flexible, serviced solutions are often more affordable than leases and involve a lot less stress before, during and after a business takes up a space.”
If you’re looking for a flexible workspace solution, contact one of Office Freedom’s experienced consultants and get your office space search underway.