Today’s work environment is a dramatic shift from the rows of cubicles and desks that were once a staple of traditional offices. Now, open-plan offices and hot desks are aiming to even out workplace hierarchies.
London has been central in this pivot to a more open work environment, particularly among corporate offices. Currently, coworking firms account for 5% of office space in the city for clients big and small. For example, about 7,000 investment bankers are moving into the eighth floor of Goldman Sachs’ European headquarters. This space is outfitted with adjustable walls that can be removed and subleased if the company needed to downsize.
This evolution is reshaping our work habits, how managers operate their offices and how landlords build out their spaces.
Modern technology has allowed developers an easier way to create flexible spaces to meet growing demand. Such technology includes the collection of data that is helping optimize the use of resources such as temperature control, noise-dimming products and more.
Moving forward, landlords should anticipate updating their buildings with flexible work options as more firms become wary of signing a 10 to 15 year lease.
This is particularly true for companies with thousands of employees, who no longer wish to take out long-term leases for branch offices. Now, they are opting for flexible options to cut costs and boost productivity.
But as more companies continue to densify their allotted work areas, they must also keep in mind to compensate with larger spaces to take a break or socialize. Finding balance is key in sustaining the flexible office model.