- International Workplace Group (IWG) recently published its 2018 flexible workspace report.
- The report gathered insights from 18,000 professionals across 96 countries.
- The report found that reliable Wi-Fi, well-equipped rooms, and guaranteed safety are key factors when looking for a flexible workspace
Regus and Spaces’ holding company, International Workplace Group (IWG), published earlier this month its 2018 report “The Workspace Revolution: Reaching the Tipping Point.” The report, which gathered insights from 18,000 professionals across 96 countries, states that the world of flexible workspaces has reached a tipping point.
IWG’s report confirms what many others have recently found, coworking and flexible workspaces are the new normal. In fact, the report even states that “one day soon, flexible working could simply be known as ‘working’.”
Over the past couple of years, companies of all sizes and across a wide array of industries, have started to embrace flexible workspace solutions, realizing that these spaces play can greatly benefit a company’s real estate and human resource strategies. The upcoming new lease accounting standards has also driven the adoption of flexible workspace by large corporates and enterprises.
Key Findings from the Report
Of those who participated in the survey:
- 91% said that flexible workspace enables employees in their company to be more productive while on the move
- 89% believe flexible working helps their business grow (compared to 68% in 2016)
- 87% believe flexible working helps their business stay competitive
- 83% believe flexible working helps their business maximise profits (compared to the 67% that said it improved sales in 2016)
- 80% stated that enabling their company’s employees to work from anywhere helped them recruit and retain top talent (64% in 2016)
- 81% said remote working locations help employees achieve a better work/life balance
- 78% said an increasing proportion of companies are choosing flexible office space to respond to employee demand for drop-in locations
- 72% said providing access to a huge network of flexible workspace helps them attract more talent
- 82% stated flexible working helps them create a presence in new markets
- 73% stated it helps them mitigate risk
- 89% stated optimized costs is a key driver for increased use of remote working locations
In other words, flexible workspaces allow companies to run leaner businesses, invest more in growth, and attract top talent. And although the flexible workspace industry has experienced incredible growth over the past five years, IWG’s report found that there is still room for growth, especially in underserved areas where people still have to choose between working from home or from a coffee shop.
“There is still huge potential for flexible working to continue its expansion. With workers still largely forced to opt for unsuitable workplaces when they are not in one of the main office locations(…) it’s clear that more professional drop-in facilities are required.”
Offering Choice and Productive Workplaces
Operators seeking to grow their brand or newcomers hoping to enter the industry should focus on three key elements, according to the report: 1) reliable and fast Wi-Fi, 2) smart and well-equipped rooms, and 3) guaranteed safety to members.
These three elements “are far more important for business people to be productive than perks such as socialising and refreshment, it seems,” the report reads.
Moreover, while coworking spaces have taken center stage in terms of flexible workspace options, the report emphasizes the importance of recognizing that “other types of workspace solutions continue to be needed.” This includes hybrid spaces, private offices, niche spaces, business centers, and the like. There is no one size fits all, and flexible workspace operators need to make sure they understand their target audience in order to provide a service offering that truly caters to their needs.
Offering choice and workplaces that drive productivity will help operators not only attract members, but also retain them. At their core, flexible workspaces must be flexible themselves, this comes in terms of working areas, amenities, and schedule, especially as more people view the workplace as a destination and work becomes an experience.
Related reading
- CBRE Research: Flexible Workspace Is Fastest Growing Industry In Manhattan
- The Us Flexible Workspace Market Is Dominated By Independent Operators
- Key Findings From The Instant Group’s Research: “The Marketplace For Flexible Work”
To read the full report, click here.
