What’s going to happen to flexible workspaces post COVID-19?
Right before our world was put on hold, according to The Inquirer, the demand for coworking spaces in Metro Manila was rapidly increasing with clients from different sectors – freelancers, entrepreneurs, start-ups, small corporations, IT firms, BPOs, and even multinational corporations.
When the Enhance Community Quarantine was enforced, it was expected by those outside the flexible workspace industry that these places would close down, at least for the time being. The influence that this pandemic had on flexible workspaces was similar to those of traditional offices as several tenants decided to terminate their contracts to be able to save on their expenses.
The first few months of the lockdown were a huge challenge as businesses were very strict in monitoring their cash flow and the health of their employees. This means that most offices were empty because employees were instructed to work from home. But six months into quarantine, more people are now returning to their physical offices but not on a daily basis. This shows the need of a space that could accommodate flexible work schedules.
Despite this, there is still some doubt surrounding the flexible workspace industry. So how can flexible workspaces bounce back from this pandemic and separate itself from traditional offices?
As important as it already was, who would’ve thought that the importance of money to businesses could still drastically increase? The cost to work in a flexible workspace played a big role in the initial boom of this industry. One thing with coworking spaces is that they do not require long term leases and hefty deposits which is an avenue that companies will strongly explore. The need to conserve money has only become more vital now due to the limitations caused by COVID-19. Having an office in a flexible workspace is not only good for the short term, but could also help in maintaining a healthy cash flow down the road. One of the key reasons that these are cost efficient is that most payments are fixed while already including utilities and the like.
Another reason for the increased demand for flexible workspace is the community aspect that comes with it. And with the pandemic creating unprecedented challenges, community is the key to recovery, according to Forbes. The working environment it provides helps companies stay motivated by being around other driven individuals. These workplaces are also designed to build relationships between coworkers that could potentially lead to innovation and collaboration. Being exposed to people from different companies and industries, keeps your mind open and gives you a different perspective. In addition, being part of the community helps build your network which could very much play an important role in how your business bounces back from this pandemic.
Lastly, flexible workspaces provide much convenience to their clients. Your next workspace should be able to adapt to different challenges that arise, such as this pandemic. A flexible workspace not only means flexibility in lease terms, but also in terms of work arrangements you can offer to the team. The Business Mirror mentions how moving in and out of the space would be easier for your team. Since offices are already furnished and there would be no need to deal with negotiations with brokers, it would be a much faster process. Furthermore, it would be easier to monitor your office expenses given that all the utilities are already included in your rent. All you really need is your laptop and other work essentials then you’re ready to go!
The way we work is always changing and flexible workspaces will have a big opportunity to bounce back once quarantine is lifted. The future workspace should be flexible enough to adapt to different challenges such as COVID-19. These unpredictable challenges have become more common and because of this, flexibility of your workspace will only trend upwards as a priority when businesses are looking for a place to work.
If you are looking for a flexible workspace in the Makati area, Acceler8 could be the place for you! We have rooms of different sizes where you could work or conduct meetings. And don’t worry, we have rules for everyone to follow to keep the best safety practices for our clients. If you’re ready to bounce back, send us an email at email@example.com and we would be more than happy to help you out with your inquiry!