SALM TEAM 
As major businesses make a move from one centralised office to a hub-and-spoke model for their workers, the flex space industry is more critical than ever
Flexible and coworking spaces have long been a lifeline for small and medium-sized businesses. But, as we embrace the ‘new normal’ of home working, they’ll increasingly become a part of the picture for large-scale companies, too.
With slick meetings technology and group-chat-style project management on hand – and long commuting distances a reality for many, priced out of urban centres – making long trips into one head office seems less logical or efficient than ever.
It’s not a trend solely sparked by the pandemic, either: in the past two to three years, many larger businesses have been actively looking for ways to downsize their permanent space in favour of offering more widespread flex- or coworking spaces to their employees.
Ahead of the curve
A case in point: Standard Chartered Bank signed a ground-breaking deal with Spaces’ parent company IWG that will grant 95,000 of its employees’ access to 35,000 IWG workspaces across the globe.
They were followed by IWG’s biggest client to date, the Japanese telecommunications company NTT, whose recent deal enables its 300,000 employees access to a global network of flexible office spaces.
“This arrangement gives flexibility to our colleagues, as well as driving greater inclusion,” explained Standard Chartered Group Head of Talent, Tanuj Kapilashrami”; in the future, the bank’s headquarters will perform a completely different function; she explained: to induct employees, to meet with customers, and to collaborate on top-level innovations.
Meanwhile, hybrid workers can drop into Spaces’ centres nearer to their home – when collaboration, superior facilities and tech (or even quiet time) is needed.
The age of workplaces being seen as one central office, with uniform rows of desks and a photocopier at the end, are over, Tanuj predicts. “We want to use our premises very differently – to induct our employees, meet customers, collaborate and innovate.” The company’s goal, she emphasises, is to measure “the behavioural changes we see in how work gets done” to find the optimum balance of central office, home-working and flex space ‘hub’ offices for employees. The focus will move to learn from employee feedback, “asking what works best, and feeding that back into the organisation.”
Workplaces without borders
While coworking spaces have been a favourite of entrepreneurs and small businesses for some time, adding flex space to the mix as part of a hybrid working approach is increasingly alluring to bigger companies.
As well as saving on the cost of long leases on central properties, many want to lighten their carbon footprint – a side-effect of slimming down their workforce’s commute with a local office option.
Employees will thank their companies for a flexible approach, points out IWG’s CEO Mark Dixon – and talent will likely start to shop around based on who has adapted to a hybrid style. “If you make your workforce happier by giving them more balance, they will be more productive. You’re going to have less churn, and you’re going to keep your talent because your people aren’t wasting their time commuting unnecessarily.”
“We’ve seen many businesses considering or making the change,” Dixon continues. “Companies like Standard Chartered are early adopters of something that, in a year or two years, will be the norm for many companies.”
Instead of viewing the future of work as an office-centric or work-from-home model indefinitely, we should consider the workplace an incredibly dynamic environment. In offices, spaces are increasingly important, how they’re used, how they’re accessed, and what they can offer employees in terms of collaboration, flexibility, and adaptable seating plans. That is precisely what flex space is and should be in the modern landscape – highly adaptable to meet the needs of the ever-connected workplace
About IWG PLC
IWG is the global leader in hybrid work solutions and workspace brands. We create personal, financial, and strategic value for businesses of every size, from some of the most exciting companies and well-known organizations on the planet to individuals and the next generation of industry leaders.
They all harness the power of IWG’s hybrid working platform to increase their productivity, efficiency, agility, and market proximity. IWG’s unrivalled network coverage includes approximately 3,500 locations across more than 120 countries, and 83% of Fortune 500 companies are amongst our growing customer base.
Through our brands, including Regus, Spaces, HQ and Signature, we help millions of people and their businesses to work more productively. We provide the world’s leading hybrid work platform with professional, inspiring and collaborative workspaces and digital services, all available via the IWG app.
For more information:
Visit www.iwgplc.com and for more information on partnering with IWG, see:
https://www.iwgplc.com/develop-a-location
Dj Chilu 
