The future is still looking bright for flexible workspaces!
The pandemic has left a lot of businesses in disarray and confused as to how they could continue operating efficiently in the new normal. According to an article by Julie Tucker of Headspace, market analysts have said that coworking is on its way to significant growth.
Despite the current challenges the industry is facing, we believe that the Flexible Workspace industry is here to stay and will form part of each company’s Real-Estate portfolio beyond the Covid crisis. Many of these companies believe that flexible leases, a managed facility, and access to a community are critical support structures that coworking spaces provide that will help them adapt to the New Normal.
How can flexible workspaces help shape businesses in the future?
Over the past few months, more and more businesses have been looking into flexible workspaces as a solution. If there is one thing we all learned from the global pandemic, it’s to adapt to the situation at hand, and the benefits and flexibility of coworking space allow just that which makes it difficult to overlook moving forward.
Flexible terms with stress-free transitions
Flexible workspaces have similarities with traditional offices, but their differences are clear-cut. One big difference is flexibility when it comes to leasing terms. With the pandemic still looming, a flexible workspace can act as a band-aid solution for businesses given the flexibility in lease terms.
A flexible workspace also opens the opportunity to start as soon as possible. Moving in and out of the space would be a stress-free transition and could be done right away. With already furnished workspaces, all individuals would need is their personal laptop, other equipment, and documents necessary to fulfill their tasks. This provides a perfect solution for businesses that are looking to gradually expand given all the options available such as adding an individual to cowork or getting another serviced office without the need for long-term commitments.
Diversifying office locations
Businesses that were commonly found in coworking spaces prior to the pandemic were usually startups, freelancers, and mostly smaller-sized businesses. But due to the pandemic, a lot of bigger companies have also started looking into a flexible workspace to act as a satellite office in an effort to decongest in their main offices.
The pandemic has made businesses reevaluate their real estate strategies. A number of companies we have spoken to are now revisiting their current workplace strategy in anticipation of the re-entry of employees by the end of 2021. This new structure called “workplace 2.0” involves a mix of remote working where employees are given the opportunity to work out of a coworking space or their traditional headquarter office. For larger scaled companies, diversifying locations will help improve risk management as well.
Reduced capital expenditure and utilities
Reducing capital expenditures is another benefit, which has strongly attracted newer companies to flexible workspaces. And over the past few months, there has been a growing number of businesses that have been looking into flexible workspaces as a solution, including larger scaled companies.
With this, reducing capital expenditure has become a top priority for all businesses as they figure out the most efficient way to operate in the new normal while keeping expenses at a minimum. Moving into a flexible workspace would require a smaller capital expenditure as there wouldn’t be a need to fit nor construct your own office. In addition, there would be fewer expenses for furniture and utilities as these are already included in the payment.
Being part of an innovative community
The sense of being in a community would increase your network and could even help with productivity. Being able to share ideas and receive feedback feeds creativity and innovation as you get to see the perspectives of people outside your company. When you’re surrounded by people from different companies and industries, it can open several doors of opportunity for your own business.
This could be an escape from isolation to being in a professional setting with fellow colleagues. Having people around allows coworkers to brainstorm and collaborate while also building a relationship at the same time that could go beyond the walls of the office.
Flexible workspaces are here to stay for the long run and is a viable solution for many businesses. Whether the goal is to survive the pandemic or gradually expand your business, a flexible workspace is a step in the right direction! As we’re all itching to move on from this pandemic, the benefits that come with a flexible workspace are difficult to overlook for businesses.
If you are looking for a safe, flexible, and productive office space, Acceler8 could be the place for you! Send us an email at connect@acceler8.com or visit our Facebook page here to learn more about our flexible workspace.