Demand for flexible office space is on the up – in a big way.
A recent survey found that 77% of companies seeking relocation were planning to factor flexible spaces into their future plans.
This rising interest makes sense, especially given the broader shift we are seeing towards hybrid work and flexible ways of operating. But should your company be considering a “flex space”? Let’s explore the 5 signs that you’re ready to go fully flexible.
1. You are looking for ways to reduce overheads
In the past people were predictable, and spaces were static. Now, spaces are flexible, and people are unpredictable. 2023 is proving to be an exceptionally tough year — for even the most robust businesses.
If you, like many, find yourselves in a position where cost-cutting and optimization is top of mind, you might well be looking towards your office space as an opportunity for cost saving. (And you wouldn’t be wrong in doing so!)
Running a traditional office can be very expensive, and the overhead costs can add up quickly. With a flex space, however, you’ll only pay for the space you need — while also saving money on utilities, maintenance costs, and other expenses related to running an office.
Additionally, you’ll have the flexibility to choose from a range of pricing plans, depending on your business requirements. You can select hourly, daily, weekly, or monthly plans, depending on how much space you need and for how long.
The result? Flexible costs, a more predictable budget, and cutting out your largest monthly expense.
2. Your office is frequently underused
This is something we are all experiencing to varying degrees.
With remote work so universally available, many employees are choosing to forego their long commutes and spend that time in other ways: helping out with child care, relishing their improved work-life balance, or focusing on their physical and mental health.
The fact is: employees are struggling to find good reasons to come into the office.
That’s where flexible spaces come in. With flex spaces, your employees will have the opportunity to choose a space that is local to them — and therefore much more accessible.
Furthermore, with the right hybrid work tool in place — giving your employees oversight over their coworkers’ schedule and helping with the day-to-day of flexible work — your team will know exactly when and where it makes sense for them to be.
Underuse of office space is not just damaging from a financial perspective — but also a cultural one. The office should feel like the company’s watering hole — a place to draw inspiration from others, get down to focused work, and build long-lasting social connections.
Flex spaces are bustling neighborhoods that will help bring your employees back to a physical space and — crucially — show them the unique value in doing so.
3. You find yourself stretched managing your physical office space
Managing a physical office space can be an uphill struggle, especially if you have limited resources.
Even if your office is being adequately used, you might find the stress of its management and upkeep far outweighs the benefits it brings about.
With a flex space, you’ll drastically reduce the responsibility you have over your physical workspace.
No more worrying about maintenance, cleaning, or other finicky day-to-day tasks — these will all be managed by the flex space provider. A flex space will also generally offer a wide range of professional services, such as administrative support, reception services, and IT support.
If you add the right hybrid work software into that picture, you’ll also not have to worry about the nitty gritty of desk booking, meeting room management and employee work schedules.
A flex space equipped with a leading hybrid work tool might just be the thing that helps free up your time to focus on things that matter the most.
4. You don’t want to compromise on quality facilities
I hear your concern. “Flexible spaces sound nice, but I’m worried about compromising on quality. I want the best for my employees.”
An honourable goal! Luckily for you, the modern flexible space goes above and beyond ensuring your employees are met with quality.
A quick browse of the best options near you and you’ll see spaces kitted out with high-end amenities, modern furniture, state-of-the-art technology, and premium meeting spaces — not to mention high-speed internet, video conferencing tools, and industry standard office equipment.
Flex spaces are designed to create a professional and comfortable workspace — but also a versatile one that caters to a wide range of industries and creative focuses.
This eclectic, polished environment, can act as the perfect platform for your team to continue enjoying in-person work without sacrificing on any smallest convenience — and act as a totally new source of inspiration and fulfilment.
5. You are looking to reduce your environmental impact
Reducing environmental impact is a priority for many businesses and their ESG missions.
Research has shown that empty offices are still devouring almost as much energy as in pre-pandemic times.
By choosing a flex space, you’ll not only greatly reduce your company’s carbon footprint through vacating a whole physical space, you’ll be committing to a system that has space and energy efficiency at its core. No more empty or underused office floors – flex spaces are set up to maximize the usage of their work areas, while also providing eco-friendly technical infrastructure, such as energy-efficient lighting, heating and powering.
Even if you keep a core office and choose to introduce flexible spaces for your international employees, the benefits are significant. Flex spaces have excellent access to public transportation, and some will even have bike storage and shower facilities — encouraging low-emission travel to and from the office.
Giving your employees a tool to book these flex spaces and see how their colleagues plan to use them will go one step further to ensuring a commute is never wasted, and in-person work is carried out as intentionally as possible.
A flexible space set up for hybrid work ultimately works in the interests of the environment.
So there they are. The five reasons it may be about time for you and your team to explore flexible spaces.
Remember though — there is never a one-size-fits-all. Before committing to a move, you might want to ask yourself a few questions:
Would it make financial sense? Would it really help reduce our carbon footprint? Is it feasible from an organizational point of view?
Most important of all is to get a feeling for how your employees see the situation. Maybe they value having their own space, and it’s time to downsize or choose a different office. Maybe they are raring to commit to a fully hybrid system.
At Kadence, we’re all about treating each individual case with the attention and detail it deserves. We’re also all about partnering with outstanding solutions that help companies get even smarter about the way they operate.
Big news coming soon!