Flexible Workspaces: Why Business is Switching

Flexible Workspaces: Why Business is Switching

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Why are companies switching to flexible workspaces in these uncertain times? From the standpoint of both the organization and the employees, the use of flexible and serviced office spaces, even at distributed locations, may be the best and most cost-effective alternative.

The organizations save a lot of money on energy and other expenditures by having spread out, smaller offices in different places.

When the pandemic struck in March 2020, the entire globe came to a halt. Organizations closed their doors as a result of the pandemic’s lockdowns, forcing a large portion of global and Indian labor to work from home. Due to excessive rental and maintenance costs, many Fortune 500 organizations and corporations have begun to release their leased office properties.

Without a question, the ‘Work from Anywhere’ concept saved the day for businesses and their employees, and it came with a slew of additional perks. The organizations were able to save money on real estate and operating expenses. They were also able to grow to multiple locations, allowing them to serve a wider audience with a fewer number of flexible workspaces. They were also able to hire people from all over the world with no geographical restrictions. Employees benefited from the flexibility of
working from home, as well as reduced commute time and lower travel expenditures, as well as a better work-life balance.

Let’s take a look at why businesses are moving to smaller, more distributed office locations, which is a win-win situation for both them and their employees:

The Advantages of Flexible Workspaces Include:

  1. Low Capex: Purchasing/leasing office space, as well as the upfront expenditures of procurement, can be a significant expense that has a negative impact on the bottom line. Switching to flexible workspaces, even across different cities, can save a company a lot of money.
  2. Flexible Lease Terms: Because of the long and strict lease terms, having rented space might put an organization in a bind. Because of the shorter and more flexible lease terms available, moving to a smaller serviced office may be the best option.
  3. Adaptability: This pandemic has taught us that nothing lasts forever. Any business will either grow quickly or need to slow down from time to time. Serviced office spaces allow users to scale up or down according to their needs.
  4. Business Support Services: Legal and legislative compliances, tax filing, travel bookings, and concierge services can all be a major headache for businesses. Experts are on hand at serviced office spaces to assist you with all of your needs while you focus on your core business.
  5. Ready to move in: In today’s fast-paced world, buying/leasing an office and then getting it set up can take a long time. Serviced Office Spaces provide organizations with plug-and-play office spaces in which they may begin working immediately.
  6. Recurring Costs: Recurring costs have the potential to eat into a company’s profitability. From the upkeep of the common areas to the start-up of the backup generators, everything is taken care of. Serviced Office Spaces handles everything from insurance to equipment AMCs.
  7. Lower Carbon Footprint: Organizations save a lot of money on energy and other expenses by having distributed and smaller offices in different places. Reduced commuting means fewer automobiles on the road and less energy utilized, which incidentally helps to clean up our environment and lower our carbon footprint, which is a pressing need of the hour.
  8. Shared Common Places: In a large, single-office system, you end up maintaining areas that are rarely used or under-utilized, with common areas being the most prominent example. In a serviced office, on the other hand, you can share the entire area with the other tenants without having to worry about paying for the upkeep.

Employee Advantages:

  1. Cost savings: For staff working from serviced office facilities closer to their homes, the main benefit is not having to endure long and exhausting trips. As a result, all of the time and money saved can be put to personal or family use.
  2. Work Environment: A positive work environment improves productivity, while a negative one might be detrimental. Serviced Offices provide ergonomically built and lush green environments that increase productivity and morale.
  3. Ready to Work: Employees just connect their workstations into the internet-ready workplace and begin working immediately, saving time and money on the time and effort required to set up their workstations in a leased office space.
  4. Reduced Workload: Admin managers do not need to worry about finding vendors and haggling with them to hire the appropriate services because each service has been properly curated and offered on the service provider’s end, taking into account all of the requirements.

In a nutshell, adopting flexible workspaces/serviced office spaces, even in remote locations, may be the greatest and most cost-effective solution for both the organization and the personnel.