KEY FINDINGS FROM THE INSTANT GROUP’S RESEARCH: “THE MARKETPLACE FOR FLEXIBLE WORK”

Last week, the Instant Group published its 2018 research report “The Marketplace for Flexible Work”. The findings were based on responses from over 500 corporate users of flexible workspace, landlords, and operators to provide a realistic view of how the industry is perceived.

The initial results showed that 50% of those surveyed “envisage spending less time working from traditional office space in the future, while the number of corporates looking for more flexible options is growing.” The official release stated that “respondents cited greater work flexibility, expanding professional networks, business opportunities, greater levels of energy at work, innovation, and a generally improved working environment through the adoption of flexible workspace.”

The demand for flexible workspace has grown exponentially over the past couple of years, and the Instant Group believes demand will only continue to increase in the following years, as different players realize the value and benefits of these spaces. The key benefits vary by type of client, with flexibility being a common benefit for all. 

The report focuses on 4 key players and provides information as to how each player has been positively impacted by flexible workspaces, citing the following:

 

ENTERPRISE REAL ESTATE LEADERS

Flexibility for employees

More flexible real estate costs

Reduced real estate costs

Greater work productivity

Improved work setting choice

 

OPERATORS

More ways to offer flexibility to customers

Ability to attract enterprise customers

Better service offerings

Increased brand value

Increased revenue per seat

 

END USERS

Flexibility around how I work

Expanded professional networks

Business opportunities

Higher feeling of energy at work

Innovation

 

LANDLORDS/DEVELOPERS

Increased property values

Ability to attract new kinds of tenants

More ways to offer flexibility to prospective tenants

Better offerings for prospective tenants

Premium on revenue per square foot

The benefits of flexible workspaces are clear. However, there is still space for improvement. The research found that “end users flagged that service improvements, innovations in workplace design, and the quality of the social/community experience will help sustain long-term satisfaction with flexible space.”