New research from The Instant Group has found that employees could save over £2,200 annually and 98 minutes per day if companies embraced a “work near home” model.
The workspace company’s research also found that companies could save up to 23% if they used a hub-and-spoke model that focuses on providing offices outside of city centers.
Even more, 57% of employees said they want an office that is closer to their homes. While this bodes well for a more flexible future, research also indicated if demand for office space remains at this level, supply will run out in 18 months.
“With 20 to 40 percent of the workforce predicted to move towards more suburban locations in the coming years, then the office market has some work to do to generate sufficient supply of quality workspace,” said John Duckworth, Managing Director of the Instant Group UK and EMEA.
The beginning of the pandemic marked a stark contrast between demand for office space in major cities and demand in suburban areas. For instance, suburban offices in Manchester saw occupancy rates of over 85% throughout the various lockdowns.
Duckworth added that one of the most essential aspects of the future of the office market is the ability to test out which strategies work best for each company.
