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.”