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Flexible Workspaces … All you need to know

COVID-19 disrupted the way we use office space and accelerated the transformation towards flexibility.

If you are confused or unsure of what flex exactly is, why it’s the future, and how you can benefit from it.

We created this post to help you figure this out, take advantage of the workspace revolution and stay ahead of the game.

What is a Flexible Workspace?

With its increasing popularity, it is not rare to see the terminology around flex space frequently misinterpreted.

The terms “coworking space”, “serviced office”, “flexible office space”, “flex space” can often sound confusing.

Although they might be a little different from one another, they are all united by the flexibility of lease terms and focus on the tenant experience.

Another common characteristic of these offices is the multipurpose design that increases productivity, improves the tenant experience, and encourages engagement.

The main concept of flex space is to accommodate the diverse needs of business owners, entrepreneurs, employees, putting the focus on the human experience at the workplace. The flexible workspace can convert into a collaboration space, a conference room, or a quiet zone, depending on the needs of the employee who uses it at the time.

Although there are plenty of types of flex spaces, at Office Co we have focused on these two main areas:

  • Coworking space: an open-plan area where companies and individuals share the space with a variety of amenities, including desks, internet access, refreshments, meeting rooms, etc. Priced on a per desk/per month basis, and are mostly used by small startups and freelancers.

  • Serviced office: fully furnished offices available for immediate move in for bigger companies, with an option of customizing a space to a company’s brand image. Extras include reception services, and additional support, such as maintenance and IT. The contracts are longer, from months to years, and can comprise from one desk up to 8 employees.

The future of the workspace is flexible

The demand for flexible workspace solutions has been steadily increasing in the past 10 years (at least!) and 2020 just fuelled this demand.

Most standard leases range from 7 to 15 years. But companies are no longer willing to stick to traditional leasing terms, especially in times of uncertainty and economic pressure.

The disruption in the flex market is notable, especially in the corporate sector. Before, flexible space mostly served the needs of freelancers and start-ups, whose struggles of projecting future cash flows craved for flexibility. The focus has now broadened to bringing in corporates that aspires to accommodate the wishes of their employees in order to attract the best talent.

And what employees wish nowadays is clear – abandon the traditional office environment in favour of adopting the hybrid workspace.

If you’re looking for a dedicated workspace with everything included for you hot desking at a coworking space might just be the perfect option.

Collaborate, Innovate and Grow, with Office Co.

Book a walkthrough at one of Office Co’s branches today

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