Why Flex Offices are in Demand

November 4, 2020

Prior to the onset of the global pandemic, many multinational companies were implementing agile workplace initiatives, creating increased flexibility in how and where their employees work. While many employees and employers embraced working from home at the beginning of the pandemic, they are now realizing that the office is still a key part of operational success and employee wellbeing. At the same time, most employees have expressed the desire to continue to have the option of working from home 1-2 days per week.
When they do go in, many employees would like to be closer to home, reducing commute times and negating public transportation concerns. This has facilitated increased interest in de-densifying space, or creating a hub and spoke model. In this scenario, a company would have a smaller centralized office, with several “spoke” offices located closer to where employees live.
Flexible office solutions are a great way to execute this strategy and support workplace flexibility. Companies can avoid long term lease liabilities and investment in large capex projects by opting for pre-built flexible office spaces with lease flexibility. In addition, enterprise flexible office solutions can provide purposefully designed office space, with custom branding, and even increased safety measures, ensuring well-being.
The bottom line is that flexible office space is in demand because it offers a better alternative to long term, inflexible leased space. It allows companies to open and close locations as needed, as well as scale up or down the amount of space in each location based on employee usage. Increased flexibility (both term and size of space), reduced capital investment and an enhanced employee experience make flexible offices a long-term solution in creating a real estate portfolio that adapts to the speed of business.

OfficeNetwork Client Solution:

Client Objectives:
A US-based software company specializing in business intelligence tools and visualization, sought to provide its Singapore employees with a dynamic office environment, with a flexible structure in order to scale up or down.

Challenges:

• Source the right flex office partner able to deliver a fully demised and turnkey office solution, on time and built to spec.
• Avoid any and all CapEx outlay for the fit out.
• Achieve maximum flexibility, especially in uncertain times.
• Ensure the same look and feel as their direct-lease sites.

Results:

• Client partnered with OfficeNetwork to source top flex office providers in the market, able to deliver the desired demised office environment in plug-and-work condition.
• No CapEx outlay was required, with the chosen office provider delivering the exact space needed.
• Signed for a 24-month term, achieving maximum flexibility with the “accordion effect”, able to right-size at the 12-month anniversary by giving 6 months’ notice, and with no penalty.
• Achieved the same corporate look and feel as their other office sites, with 100% client branding, logos, and colors.