Since the pandemic and the lockdowns, the way we work has changed relatively fast. Employees are more and more demanding for flexibility and hybrid work arrangements, in the west and in Asia, forcing companies to adapt, and impacting their office management.
More companies are moving away from old-fashioned office leases and choosing workspaces that can change with their needs. This isn't just a trend, it's a clever move that's changing how businesses run and grow. But why is this happening? Why are all sorts of companies, from small startups to big firms, choosing flexible offices more and more?
What are flexible office solutions and why are they gaining popularity?
Flexible offices are office types managed by a third party that focus on flexibility, in terms of contract terms and types of offices as the main advantages. Flexible offices can either be serviced offices or coworking spaces. While coworking spaces focus on providing hot desks and dedicated desks in community areas, and sometimes private offices. Serviced offices are offering furnished offices within grade A buildings, located in central business districts.
They're different from the traditional offices where businesses generally need to sign a long lease. Traditional offices also come with the need for renovation and customisation of the workspace, making it less flexible for companies that are looking for ready-to-use spaces.
Flexible offices are becoming more popular because they fit well with how companies operate after the pandemic. Indeed, a shift has been observed as employees in the Asia Pacific region are more demanding in terms of hybrid work arrangements, CBRE reports. On their side, companies plan to return to office, still allowing employees to work from home several times a week, leading to an increased demand for flexible offices.
Flexible offices also let businesses easily change how much space they use. If a company grows quickly, they can get more space without the headache of moving to a whole new building. Alternatively, if they need to cut back, they can use less space without being stuck paying for rooms they don't need.
How do flexible offices address the changing needs of businesses?
Flexible office solutions are a perfect fit for the way businesses need to work in the future. They help companies deal with sudden changes in the market, which is really important these days. For example, if a company needs to quickly set up a team for a new project, they can easily get extra space in a flexible office. “Most serviced office and coworking space providers offer the possibility for companies to up-scale and downscale easily. This means they can react fast to new opportunities without being held back by long-term office commitments. This scalability is really valuable for startups and small businesses that might grow or shrink quickly, but it's also useful for bigger companies that want to be more agile.”, reports Mimi Lee from Bela Offices.
Another big plus is how well flexible offices support different ways of working. With more people doing a mix of working from home and coming into the office, companies don't always need the same amount of space every day. Flexible offices let businesses have just the right amount of space when they need it. This works well for hybrid teams where some people are in the office and others are working remotely.
What are the financial benefits?
One of the biggest advantages is the monthly rental cost. With a flexible office, you don't have to pay for a large space you might not always use. Instead, you only pay for what you need, when you need it. This can make a big difference to a company's bottom line, especially for small businesses or startups.
Flexible offices also help cut down on office management costs that come with running an office. Things like renovations, painting walls, buying furniture, setting up internet and phone lines, and paying for cleaning services are usually included in the price. This means companies don't have to spend time and money sorting out these details themselves. It's all taken care of, which can be a real relief for busy business owners.
Conclusion
Flexible offices are not just for one type of business, they can be a good fit for many different types of companies. For startups and SMEs, flexible offices are often a great choice: they can start small and add more space as they need it. Larger corporations and enterprises are also choosing flexible offices more and more. They might use them for special projects, to test out new markets, or to give their staff more choice about where they work.
