Office space is one of the areas where businesses often find their resources drained; with the cost of the real estate, plus the cost of management and utilities, a high percentage of company revenue and cash flow is usually allocated to financing office space.
Though this is how companies have operated in the past, the situation need not be the same today. Technology, remote work policies, and an increasingly focus on wellbeing have given rise to the workspace-as-a-service concept; and companies have been forced to think outside of the box when it comes to office space, in order to make better use of their resources, attract new talent, and have a more resilient business strategy.
Workspace-as-a-service includes various types of flexible offices: coworking spaces, executive suites, virtual offices, dedicated desks, and business centers. Though there are various service offerings, these workspaces all offer ready to use space with additional amenities that create a holistic and unique workplace experience.
There are various benefits for companies that decide to incorporate flexible office spce to their real estate strategy, especially as these spaces encourage companies and individuals to interact with other members.
Oftentimes, these offices create ample opportunity for ‘healthy collision’, where people interact with one another, exchange ideas, and collaborate. This constant interaction with people that are outsiders to their particular company drives team members to think outside the box, to change their mindset, which often leads to creative and innovative solutions to traditional problems.
Additionally, flexible offices do not require for companies to make a significant investment upfront; neither do they require the use of a high percentage of cash flow. This opens the door for companies to find new and inventive ways in which they can use, invest, or allocate their financial resources. Doing so can help companies address needs of different areas, power their research efforts, grow the business to other areas, or hire new talent.
Finally, by providing a plug and play type of service, flexible offices empower individuals to fully focus on the tasks at hand. They do this by eliminating the need to worry about management issues and administrative tasks–such as paying utilities bills, making sure all areas of the building work property, greeting guests, making sure the wifi is working, that there’s coffee ready, that the printer has ink, etc. Though these are minor tasks, when they add up they consume valuable time from people, time that could be better spent working, in meetings, or even at home.
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