For decades, large corporations have stayed with the traditional office model; however, that’s quickly changing. More corporations have found flexible offices spaces offer many benefits over the traditional model. What’s driving this trend?
Flexible Office Spaces are Increasing in Number
The number of flexible office spaces have been growing quickly in recent years. Forecasts, for the U.S. and Europe, predict this trend will continue into 2030.
As a result, corporations have a larger number of options when it comes to finding the right space for their business. Not only are there more flexible office spaces available, but they’re popping up in more locations, too. In addition, many of these workspaces are increasing in size, with some offering entire office buildings that can accommodate large companies.
Corporations are paying attention to the added options and choices available, making flexible office space more attractive and a better fit for their needs.
Main Benefits for Corporations Offered by a Flexible Workspace
There are several benefits corporations have come to enjoy in a flexible workspace. These are often not available in a traditional office setting.
1). Cost-Effective Office Solutions
Coworking and flexible office spaces offer a cost-effective office solution for many large corporations. For instance, there’s no need to buy office furniture and equipment, which can be extremely expensive. Instead, these necessities are supplied by the office space facility.
Utilities can be expensive when renting an entire office building or a large office space. The price of heating and cooling vary from season to season. When an extreme weather event causes excessive highs or lows, the business must pay those costs. On the other hand, utilities are usually included in the monthly rent and the variances caused by extreme temperatures are not passed on to the tenant.
Additional costs that can be more expensive in a traditional office include an IT network, communications, security, and more. Instead, these are all included in with the monthly rent.
As a result, a large corporation can save literally thousands or hundreds of thousands of pounds a month by leasing flexible office space.
2). Branding Allowed & Bespoke Spaces Available
Many flexible office spaces provide beautiful, un-branded, private spaces, which a corporation can make its own. The spaces are modern and offer ultramodern facilities. Many allow tenants to add their own branding.
In addition, many workspaces can be customised to fit the company’s needs. They’re able to choose the type of space and may be able to decorate it as they’d like. This sometimes does cost extra, but it is minimal when compared to leasing traditional office spaces.
3). Fast Move-in & Setup
With everything supplied, moving in and setting up are fast and easy. A large business may often find they can move in immediately, without all the hassles of arranging a new space, moving office furniture & equipment, and then setting up.
Downtime is also minimal, making it faster to be up and running sooner than when moving into a traditional workspace.
4). Flexible Leases
Traditional offices usually require a long-term lease, which means a business must stay in the office space, even if it’s not working for them.
A flexible office workspace, on the other hand, offers flexible leases—both short and long-term. This way, a company can lease the space and enjoy all the amenities offered. By choosing a short-term lease, the business isn’t trapped into staying in a space that isn’t working for them.
5). On-Demand Scaling
We live in an unpredictable world, in times that often call for flexible services and support. Corporations that are saddled with a long-term lease are not able to scale down in difficult. Traditional office spaces are not known for their flexibility.
However, flexible office spaces are more adaptable. In good times or bad, a flexible office space allows a company to scale up or down as needed.
6). Employee Recruitment & Retention
Many large corporations are finding that recruiting and retention of employees is better in coworking or flexible workspace. This is true especially with Millennials. It comes down to the community and inclusive nature of people working together in a coworking space.
Think of it this way—when working at a traditional office, employees may feel like just one in a hundred. It’s more like being a cog in a wheel, rather than being a unique individual. On the other hand, in a flexible workspace, working within a community of like-minded individuals is uplifting and exciting. Employees feel they’re more valued for who they are and the job they perform.
7). Improved Productivity
When it comes to employees in a traditional office vs a flexible workspace, those working in a flexible space tend to be more productive. Corporations have taken note of this. They have seen that employees are more motivated when they’re working in an atmosphere with others who are likeminded.
Plus, coworking and flexible workspaces are designed with inspiration and productivity in mind. They are created in ways that promote productivity by using colours, lighting and more to create a space that inspires.
8). Improved Company Culture
Traditional offices are not usually geared to creating a beneficial company culture. You may find employees gathering in the break room, but that’s about it.
Instead, flexible offices supply a space that’s dedicated to building relationships and company culture. Workers from different companies can come together to share ideas and make new friends. This is a setting where community and company culture both thrive.
9). Collaboration & Access to Top Talent
Coworking and flexible office spaces are amazing places for collaboration and access to top talent. As a place that fosters community, it’s easier to find business for collaboration on new projects. It’s also easier to meet freelancers and entrepreneurs who are highly talented and creative.
These are some of the top benefits enjoyed by large businesses that choose to operate in a flexible or coworking office space. Not only is it a cost-effective choice for the company; employees also find working in a flexible setting to be exciting, which increases their productivity, along ultimately improving the corporation’s bottom line.