Daily Digest News – December 18, 2020

Hand selected flexible workspace news from the most reliable sources to keep you ahead of the pack. We find all the latest news, so you don’t have to. Morning and afternoon updates. Stay in the know.

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Here’s what you need to know today:

• New Workplace Strategies Spikes Coworking Growth
• The Five Pillars To A Successful Business
• Wellness Trends That Will Define 2021

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New Workplace Strategies Spikes Coworking Growth

The future of the office has been up in the air since the pandemic forced a mass exodus from these spaces. 

Now that companies have explored alternative work solutions, amny are seeking to apply these new strategies in the long-term.

Demand from employees for more flexibility continues to rise, but there is simultaneous need for social interaction in an office and away from the distractions of home.

Trying to meet all these varying needs can be overwhelming, which is leading companies to turn to coworking operators to take care of outfitting workspaces.

“Demand for coworking space is very much driven by people who need a location to work that isn’t their home,” said Ben Munn, global flexible space lead at JLL. “We’ve seen demand increasing in near-to-home, suburban locations or dense residential areas and it tends to be for smaller requirements.”

The uptick in demand for coworking follows a slump the industry experienced last year. This growth is particularly impacting suburban areas as employees look to work closer to their homes and away from dense cities.

Operators were also forced to make major changes to their offices. Typically, coworking has been known to be high-density, with members sharing most amenities. 

For Industrious, the company worked with epidemiologists, behavioral psychologists and more to reconfigure their spaces to ensure that employees and members were as safe as possible.

Using feedback from those working from home, Industrious created a new membership called Oasis which offers users a monthly membership with access to any Industrious location.

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The Five Pillars To A Successful Business

Companies have undoubtedly experienced one of the most transformative years in recent history. While this transition has been challenging to say the least, Jeffrey Magee, an expert in Executive and Corporate Development, says there are five pillars that are key to a company’s success.

First, having a strategy or business plan that clearly defines your product and services is essential. Doing so helps companies establish goals that make operations more efficient and optimize earning revenue.

Operational structure itself should be completely planned out in terms of workspace, supplies, software and hardware and more. Doing so ensures that your team is equipped with the right tools to meet your company’s bottom line.

Tactics and behaviors help employees have a deeper understanding of the business model and skills used towards the company’s operational system. This means business leaders need to make sure that staff have sufficient training on the technologies and processes that the company uses every day.

According to Magee, these three pillars have long been crucial to any healthy business. 

Now, businesses need to take the lessons learned from the last nine months and apply it towards improving their current model and strategy.

Execution and accountability are the fourth and fifth pillars that truly help businesses thrive in the long-term.

Companies must identify the best way to grow their talent in areas where they want to executive new projects. If workers are learning new skills to adapt to the evolving needs of the business, success is guaranteed.

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Wellness Trends That Will Define 2021

The pandemic has made wellness in the workplace a priority, and this will likely continue to be a critical component of companies in the future.

According to a new report from wellness portal MediKeeper, there are four key wellness trends that will define 2021.

For starters, remote working is making the need for wellness programs more urgent as some employees are learning how to maintain a work-life balance. 

Companies have had to become more reliant on technology more than ever before, and these advancements can help them monitor employees’ health.

Planning the return to the office needs to start now in order to keep employees safe and alleviate any anxiety they have about coming back into the workplace.

Businesses should also utilize collected data to gather insight into what employees actually want and need from wellness programs. 

“There is no doubt that this past year has tested people in ways that they never could have imagined, and the new year is likely going to continue to push people outside of their comfort zones while the world continues its fight against COVID,” the report’s authors wrote. “By planning ahead with these four trends in mind, you’ll be better prepared to handle the challenges of the upcoming year.”