Why Corporate Businesses Should Operate in Flexible Offices

The flexible working trend is shaking up the market for commercial office space, and its impact isn't just limited to trendy startups and SMEs. As the benefits of flexible working have begun to attract attention across the globe, some of the largest corporate businesses have been keen to venture into flexible office space for themselves. In fact, JLL predict that up to 30 percent of corporate portfolios could be co-working of flexible spaces by 2030.

Many multinationals including the likes of Microsoft, Google, Apple, IBM, Amazon and Facebook have already shifted their focus towards flexible coworking spaces – but what is driving them to do so? In this article, we'll be delving into some of the reasons why flexible office space has proven to be a match made in heaven for many of the most established players in the market today. Here are five key reasons why corporate businesses should operate in flexible offices.

Positive Brand Promotion

There's an obvious reason why major corporations are as well-known as they are – their brand. Building a brand is far from easy, and organisations that have been able to do so are ideally placed to reap the benefits of their marketing success. On the flip side, this also means that major brands are constantly under the spotlight, meaning that promoting and safeguarding their brand is more important than ever.

With the flexible working revolution rapidly gaining ground, it offers an opportunity for major brands to establish themselves at the forefront of an innovative and exciting trend. Whether they're looking to demonstrate their future-proof approach to visiting clients, prospective employees or their target market as a whole, making the move towards flexible office space can help major businesses strengthen the reputation of their brand even further.

Great Offices Attract Great Talent

All organisations thrive on great talent, and major multinationals are no different. Whilst many of the world's biggest companies have offices in locations such as New York, Tokyo and London, it's impossible to be everywhere at once. This can represent an obstacle in finding the right talent to work in areas where a brick and mortar presence is out of reach or simply doesn't make commercial sense.

Coworking spaces offer major companies an opportunity to combine remote working with the very best office utilities. With countless coworking spaces situated throughout every corner of the world, corporations are able to house employees in an exciting and inspiring office environment without having to invest in a permanent office location. This means that corporations can employ a remote workforce whilst retaining many of the benefits associated with a traditional working environment.

Unmatched Flexibility

Although listing flexibility as one of the key advantages of flexible offices may seem obvious, the benefits provided by it are so significant that it is nonetheless worthy of a feature on our list.

Corporations benefit from this flexibility in many different ways. Cost-effectiveness plays a role in every business strategy, whether it be large or small. Whilst major corporations have a significantly greater pool of resources to rely on, they aren't immune to the costs of a rising overhead. Finding a flexible, non-committal office space can help them keep some of these costs under control.

Flexible office spaces can also benefit corporate businesses through increasing their capabilities to adapt effectively to change. From rapid expansion to job cuts and everything in between, changes are bound to occur in today's competitive marketplace. Through providing office space free of hassle and long-term commitments, flexible offices help businesses be better prepared for what the future may bring.

Large-Scale Productivity Gains

The relationship between flexible workspaces and increased productivity has received significant media attention in recent years, and there is significant evidence to suggest that flexible working does play a role in driving productivity.

A survey conducted in 2018 and reported on by The Independent, for example, found that flexible workers were more productive and took less leave. Building the case further, a report by HSBC suggests that a staggering 89% of respondents believed flexible working to be a key motivator in making them more productive in the workplace.

Faced with driving workforce productivity on a massive scale, corporate businesses are preparing en masse to shift their focus towards flexible workspaces in recognition of that potential – and who can blame them?

Fast Turnaround Times

Keeping up with the demands of the modern marketplace requires corporations to react quickly to whatever challenges come their way. In practice, this means that businesses may need to set up operations on a short timescale. Time-consuming moves and drawn out procedures can represent a major obstacle in achieving that aim.

This is just one of the areas in which flexible offices break with tradition. From minimising paperwork to providing pre-prepared furnishings, flexible office spaces offer faster turnaround times and minimal delays. Corporations are only too eager to turn these time savings to their advantage.

Driving Employee Wellbeing

Employee wellbeing has become one of the most important considerations when shaping a welcoming and productive work environment, and flexible offices have a role to play in supporting satisfaction in the workplace.

Breaking with long-standing traditions, flexible offices generally provide employees with more freedom as to how they approach their work. This goes beyond providing flexible working hours alone, although that can undoubtedly help employees feel more satisfied about their work.

Increased diversity, a wider range of amenities and the absence of a one-size-fits-all approach can all contribute towards a more satisfied workforce – which is good news for corporations looking to rethink their approach to employee wellbeing.

Commenting on the role of flexible offices in driving employee wellbeing, Richard Smith, CEO of leading office broker Office Freedom, said:

"(...) the sector offers large volumes of predominantly unbranded space that can accommodate much larger requirements, providing high-end contemporary space with state-of-the-art technology, amenities and facilities that are ideal platforms for nurturing and retaining existing talent as well as attracting new talent. Today's flexible workspace provides a habitat that supports staff wellness and welfare, helping companies become happy and productive places of work. As a result, the flexible workspace industry has attracted large corporations, enterprise companies, FinTech businesses and many more."

Entering New Markets

The ability to enter or expand into new markets is crucial to achieving commercial success on a multinational level. With this in mind, many of the world's foremost corporations are continually on the lookout for new ways to establish themselves in front of an international audience. Taking advantage of flexible office spaces can be one way of doing so.

Flexible office spaces provide corporations with an easy, non-committal way of breaking into new markets. The lack of long-term commitments and the widespread availability of flexible office spaces means that corporations can set up shop anywhere in the world, as well as allowing them room to adapt to any challenges unique to the market. At the end of the day, that means more commercial opportunities and less risk.

The Future of the Corporate Office

Flexible office spaces are helping global organisations venture into a new direction, allowing them to build further upon their pre-existing formula for success. As such, according to Knight Frank, 69% of global corporate plan to increase utilisation of co-working and flexible spaces over the next three years. Providing such a wide range of benefits in terms of business growth, there is no reason to question why these large corporates are joining their smaller counterparts in flexible spaces and changing the world of commercial office space for the better.