Flex work is now the future!
According to a survey done recently by a coworking space provider, with flexibility becoming the new workplace trend, 35–40% of businesses of all sizes prefer the concept of hybrid working. According to the report, 35% of businesses have embraced a multi-office strategy by working with co-working spaces, while 45% of firms are looking for new office spaces, both traditional and flexible ones.
A large number of Indian labour force returned to their hometowns after the pandemic broke out. Businesses changed to a hybrid work style in response, giving their employees the benefits of working from home or the office. In spite of the expansion of office space in many locations, organizations are increasingly working with a flexible model of work providers to enable the seamless implementation of the hybrid work model.
Current occupier trends, which are also generating fresh expansion prospects for flex space operators in the short term, will define the long-term future of business in general. Flexibility continues to dominate workplace strategies for businesses of all kinds, making now an ideal time for flex space operators to rethink their workspaces, diversify their presence in cities, and carefully analyze tenant expectations to properly meet them.
It’s interesting to note that the poll reveals that while just 15% of larger organizations support working from home, more than 70% of smaller firms do. Seventy per cent of them favour the hybrid mode.
According to the report, due to the financial services sector’s swift adoption of digital platforms and the abundance of tech-savvy people in India, banking, insurance, and technology industries would lead to the demand for office spaces in 2023. In the post-pandemic age, various workplace models have been used to retain profitability, promote workplace flexibility, and improve employee well-being.
As things are returning to normal and workplaces are opening again, the majority of the workforce also prefers to work 3-5 days per week from the office because they believe this will promote higher productivity and better teamwork. Fewer employees prefer working two days per week.
What can we infer?
It has become crucial for important stakeholders to comprehend the mindset of contemporary organizations and their employees in order to make educated judgements in the face of such novel and growing developments. The most recent survey report, intended to provide a better viewpoint, provides insightful information on the evolving preferences of flexible occupiers.
The report identifies the main drivers for businesses to complete the workspace, give amenities first priority, and focus on technological upgrades. The majority of respondents, according to the study, are keen to work with co-working organizations to put out a plan for a distributed workforce, while 30% of respondents are looking for more cheap alternatives to rented workplaces in order to have more financial flexibility.
The remaining respondents, on the other hand, desire managed offices in order to free themselves from workplace administration responsibilities that would otherwise be competently managed by office space providers. By providing a seamless user experience, technology will be crucial in changing workspaces. According to the poll, 76% of occupiers desire an intuitive tech interface for booking meeting spaces and handling visitors. While many other factors influence a worker’s decisions, the experience that office spaces offer has a considerable impact on the decision-making matrix that will govern workspace selection.
The survey also reveals that cost and budget, together with the availability of office space, are more important considerations than the layout and aesthetics of the workspace. Even though they are not given top attention, events, activities, and technical infrastructure should nonetheless be taken into account.
What advantages does flexible work offer to employees?
Given some of the numerous advantages for workers, it shouldn’t come as a surprise that flexible work arrangements are in demand:
The average American commuter spends about an hour in transit each day for work, therefore, eliminating the daily commute can result in significant time savings.
Employees are able to boost productivity on tasks that need for their undivided attention by reducing interruptions and working from home or setting their own hours. According to Stanford research, a Chinese company that ran a nine-month experiment allowing workers to work from home reported a 13 per cent boost in production.
Another study discovered that while people execute “boring” jobs more effectively in an office environment, they are more productive when working from home on tasks that call for creativity.
Flexibility in working hours necessitates that managers let go of their need to micromanage and trust staff to complete tasks when they are not around, ultimately fostering a stronger sense of autonomy in the workforce. And other studies have connected higher job satisfaction with higher levels of employee autonomy.
Employees are less prone to burn out and quit for another job when they are more satisfied with their work. Flex work can help by allowing workers to work when and where they feel most productive, rather than forcing them to remain at a desk from 9 to 5. However, it is not a magic solution that can entirely eradicate feelings of burnout.
What advantages does flexible work offer to employers?
Flexibility in scheduling is frequently thought of as an employee benefit, but it’s much more than that. Flexibility in scheduling has the potential to help enterprises significantly and permanently. These advantages are expected to serve as the impetus for many firms to seek a long-term flexible work structure.
Businesses that allow employees to work remotely must be ready to do so in the event of unanticipated disruptions, as the COVID-19 global pandemic demonstrated. Only 28% of those who are unable to work remotely said they would be able to continue working in the event of a disaster, compared to 75% of those who can.
Decreased overhead expenses
According to Global Workplace Analytics, companies save $11,000 annually for each half-time telecommuter (a person who divides their time between their home and workplace). These savings are the result of a number of reasons, including improved disaster readiness, decreased absenteeism, more productivity, and cheaper real estate expenditures.
Less turnover among the workforce.
Flexible work schedules provide employees with more freedom, which boosts job satisfaction and lowers the likelihood of turnover. Global Workplace Analytics believes that higher employee retention might result in savings of up to $400,000 per year for a 500-person company that permits employees to work remotely half the time.
Greater Talent Pool Access.
Employers may access a far bigger talent pool when they are not restricted to recruiting candidates in particular geographic regions. Additionally, businesses that allow for flexible scheduling are more likely to draw a wider spectrum of talent than those that insist on office-based employment.
Flexible work is now the future
Employers and employees must be committed to adopting a flexible work model successfully, but the benefits to productivity, morale, and company efficiency outweigh the costs. Flex employment is here to stay, and businesses will quickly recognise its long-term benefits to their operations the sooner they change to reflect this.
When you think about flexible working, the first thing that comes to mind is a work environment where employees have the freedom to choose where they want to work. You might imagine a scenario where there are no fixed desks and everyone’s got their own laptop. While that may be one way of implementing a flexible culture, it’s not the only option. There are several other ways you can implement a flexible work culture if you’re looking for something different from what’s already out there.
One great option is to use tools like Neoffice’s meeting room booking system, desk booking systems and hot desking features to create a hybrid working set-up where staff can choose whether they’d prefer to work in an office or remotely
Neoffice Workplace Management Solution
Neoffice is built with a suite of workspace tools that help employees choose how and where they work while providing organizations with a platform to manage their hybrid workplace with ease and complete control.
The solution comes with 9 features on one single app – Team planner to manage a collaborative effort for a team, Seat Scheduling, Meeting room Booking, Hot Desking, Car park Slot Booking, Digital cafeteria to pre-order your meals at work, Employee commute solution, Survey forms. All Features are modular and the client can choose to subscribe to the relevant solution.
To know more about the solution, do drop a mail to [email protected] or a call us on our Helpline +91 80 4680 5757