Flexible Is The Future Of Work
5 questions to ask when considering flexible workspaces
Posted on 11-24-2020, Read Time: Min
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When creating a physical office environment, it’s not new for companies to consider adding flexible workspaces as an option. Startups have flocked to flexible workspaces for years, and medium- and large-sized corporations have turned to flexible workspaces to replace or complement existing traditional office space, to launch an office in new geography and related business reasons.
The flexible workspace market has been growing at nearly 23% per year annual growth rate for 10 years. Today, independently-owned flexible workspace providers control just 5% of office space, that number is expected to grow to 30% by 2030.1
As it has in so many other business functions, the Covid-19 pandemic has caused businesses to reconsider their workspace strategies. Many organizations that required employees to come to a traditional office on a Monday-Friday, 9:00-5:00 basis have observed during the pandemic that their teams perform as or more efficiently in a work-from-home environment as they do in a traditional office space environment. They also realize, however, the value of team interaction in areas such as training and collaboration. Move-in ready workspace solutions give organizations the ability to retain the efficiency of working from home while supporting the social, team building and other business-related aspects of meeting in-person.
HR teams are often the drivers in developing workspace strategies at organizations of all sizes. As these teams update their workplace strategies post-Covid, flexible work environments must be part of that conversation. When considering flexible workspaces, it’s important to consider questions far beyond location and general appearance. Five of these questions include:
- Does the workspace solution tailor their space for each tenant’s unique needs or do they expect the tenants to fit into a pre-built layout? Many workspace providers have fixed spaces and plans, and are unable to address the unique needs of tenants.
- What does the workspace provider do to build communities among the tenants – sharing information on everything from funding to marketing? Interaction among tenants; sharing information and resources, making an introduction to investors and potential partners, and more, are often as valuable as the workspace itself. Sessions such as curated webinars on topics ranging from fundraising during a pandemic to work-life balance, led by industry experts, go far beyond simply providing workspace.
- How does the provider accommodate the “new normal” of work – do some employees come to the office for specific meetups, others come in for 1-2 days per week, still others come in the traditional 9:00 a.m.-5:00 p.m. five days a week? Each type of employee has different workspace needs, can the workspace provider accommodate these?
- What will the provider do to help employers re-think how their employees can work most effectively/efficiently? Progressive workspace providers understand companies need to navigate how COVID-19 has changed the way people work and share best practices gleaned from their networks of companies. The provider should recognize that maintaining and building a company culture is a vital component of each company’s brand.
- Does the workspace provider offer cultural diversity so employees benefit from different backgrounds and perspectives? Understanding cultural differences and viewpoints gives all tenants a wider perspective and helps them uncover new opportunities.
Flexible workspaces give organizations of all sizes new and exciting options. And, the choices for flexible workspace service providers is diversifying: the top 10 workspace providers offer 36% of the flexible office space.2 Companies need to carefully evaluate their current and future needs when looking at workspace solutions, and asking the five questions highlighted here is a strong start.
Notes
1 https://www.us.jll.com/en/coworking-market-growth
2 https://allwork.space/2019/11/the-us-flexible-workspace-market-is-now-the-largest-in-the-world
Author Bio
| Vickey Li is the Founder and CEO at OnePiece Work, a global flexible workspace solution. OnePiece Work was built upon Vickey’s experience living and working abroad in major metropolitan cities like Shanghai, Hong Kong and San Francisco. Her passion for community and extensive experience in commercial real estate led her to the vision of a cross-border co-working space that would promote entrepreneurship, innovation, and accelerate global expansion for startups. In just three years, OnePiece Work has expanded to 10 cities globally and is a community of over 300 companies worldwide. Visit www.onepiecework.com Connect Vickey Li |
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