Insights

The return: flex space makes more sense than ever

November 25, 2021

As people begin to return to the workplace, the landscape has changed. Flexibility is now at an all-time premium. By offering flex space capabilities, you can keep step with the times and ensure your occupants do as well!

Flex space has been making waves in the world of commercial real estate for years now, but it’s never been as sought after as it is today. As we discovered in our recent Global Office Tenant Report, 37.1% of returning occupiers highly desire Flex Space facilities.

Why the sudden surge? Well, it’s simple. The landscape of work has been transformed by the COVID pandemic. And employers and employees alike are looking for a new way to work.

Coworking offices make sense for hybrid work

As a result of the events of these past two years, many workers have shifted away from full-time office work. Today’s professionals have well-equipped home offices, flexible work arrangements, and a desire to hold on to the new freedom and self-determination they’ve gained.

However, we also know that workers are ready to spend more time in the office – especially in offices that offer a better workplace experience. On top of that, our Global Office Tenant Report revealed that workers value the office as a hub for community and collaboration. These are the facets of work that remote work has most greatly hindered.

Offering flex space to your tenants is a great way to foster collaboration and community. And it’s the perfect way to demonstrate the strength of your site to returning workers and tenants.  

How do flex space and coworking spaces work?

Flex space is a great way to take advantage of your existing common spaces or unletted areas. With the aid of Equiem’s Space functionality, you can easily book out spaces around your site for the use of your tenants. And as tenants make the transition from remote work to more time in the office, they’ll have plenty of reason to take advantage of these flexible arrangements.

Coworking spaces are easy to manage with Equiem
Equiem boasts a robust management system for your coworking spaces

You are able to offer these spaces for the free use of your tenants, or charge a fee. The option you choose depends on your strategy. If you are looking to encourage a return of your occupiers, then freely offering bookings of common areas can be a powerful carrot.

On the other hand, if you want to recoup losses from unletted space, charging for the use of space may prove mutually beneficial. With many companies placing new emphasis on the hybrid model, there are new and returning workers who value a more flexible approach to in-office work. Your tenants may value access to temporary office space for workers who see the office as an opportunity to collaborate and engage with their work community.  

Coworking spaces worldwide are incentivising returning workers

Many businesses and workers around the globe have spent the last two years establishing remote capabilities. So, it’s understandable that some workers have become attached to their home office. It’s no surprise that employers would prefer to spend more time in the office. But here’s something that might surprise you… many workers actually want to as well.

When asked what they miss the most about the physical office, a massive 81.4% of respondents said that they missed informal chats with their colleagues.

We know that tenants and users view the office as the best place for connecting and collaborating with colleagues, and flex space can help to ensure that your tenants have a place to do just that – even when working under a hybrid model.

Today’s workers don’t want to be obligated to spend time at the same desk every day. They do want free access to an office when they feel it will be beneficial to their own work experience and productivity. Flex space is an ideal tool for making this new relationship with the workplace a permanent possibility.

And it’s a tool that’s as beneficial to your tenants as it can be for you.

Future-proof yourself with flexible coworking spaces

If there’s one thing the last couple of years has made clear, it’s that it pays to expect the unexpected. And your best defence against an uncertain future is flexibility. That’s why so many occupants value flex space arrangements. These sorts of plans allow companies to be agile in the face of change, with the ability to grow even beyond the space they lease within the site.

Coworking spaces offer a perfect solution for workers who want to continue under a hybrid model without feeling isolated or boxed in. And for tenants wary about the future, an available coworking office onsite can help to smooth the transition. 

Ultimately, tenants and workers value flex space because it safeguards the best attributes of the workplace. A combination of flexible space and hybrid work can create a truly dynamic workforce. One that never sacrifices collaboration or connection for flexibility.

Interested in offering flexible solutions for your tenants? Reach out to us today for a demo of your flex space solution, and launch in as little as four weeks.

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