Global uncertainty in today’s post-pandemic environment is the main driving force behind the trend away from lengthy lock-in contracts in office real estate. With workers looking for more flexibility at work, business owners are moving away from long-term fixed lease situations and the exorbitant costs of fit-outs when shared working spaces can offer them flexible and scalable office solutions for all their business needs.
According to Chris Butt, co-founder and global CEO of Figari, the world’s leading premium flexible office space brand, many business owners are increasingly breaking away from traditional fixed-term leases and opting to relocate to shared office hubs that offer private and serviced offices, as well as virtual offices and coworking, because of the significant flexibility and reduced cost.
“The future is in flexibility. A good flexible workspace offers a business a great environment and culture set in a dynamic and buzzing ecosystem of flexible working solutions that are productive yet creative and inspirational. Flexible office hubs offer you opportunities for networking and collaboration, with unbeatable convenience and the benefit of shared resources and reduced costs,” Butt said.
“Businesses across Australia are already moving toward flexible office hubs which is why we have recently launched our new Figari flexible office hub site in Collins Square, Melbourne. Enquiries and new business onboarding numbers are higher than expected which signals just how rapidly the shift is happening in Australia.” He also outlines the benefits of flexible office hubs.
“When a number of businesses come together under one roof, it invariably opens up the opportunity for your business team to interact, collaborate, support, and thrive together organically. Unlike traditional business networking events like conventions, seminars, and workshops, networking in a flexible office hub enables you to build relationships in a more relaxed environment without any particular time pressures,” Butt said.
“Flexible work environments present your business opportunities to connect and build relationships with people from related or unrelated professions, different backgrounds and expertise, and experience. It’s a way for you to create new social and business relationships in a supportive, inclusive, and collaborative environment.”
“There are many costs that can be reduced and shared just by the cooperative and shared nature of flexible office arrangements,” Butt said.
“These include costs like office space leasing fees, office furniture, building insurance, cleaning, maintenance, amenities and services, internet fees, and general office expenses just to name a few. In shared office environments, these costs are spread across all businesses which significantly reduces the costs and in some cases, eliminates them altogether.
“While Figari includes these benefits at no extra cost, many shared office spaces offer a flat rate all-inclusive pricing to include all these facilities which is more cost-effective than setting up everything and maintaining it all separately.
“Workspaces conceptualized and built by the Figari group have fully furnished offices with a selection of resources like client greeting, mail handling and front desk assistance being available to businesses, helping businesses to stay focused on making their work time more productive by minimizing distractions.”
“Most flexible office spaces share resources such as amenities, foyer areas, meeting rooms, breakout rooms, board rooms, kitchens, and business resource centers like printing and photocopying. This means getting rid of unnecessary doubling up of resources. Most coworking spaces offer top-notch facilities and office equipment, and your business can have a share in the benefit and use of these items without the hefty costs involved,” Butt said.
“Figari’s serviced offices are available for both long and short-term leases and have all been thoughtfully equipped with a range of modern furnishings and facilities. Their workspaces are designed to meet all professional corporate needs, suited to a range of business sizes, from large corporations to smaller entrepreneurs starting up their own business.”
“Flexible shared office spaces offer you a greater work-life balance, with many of them having excellent locations that are conveniently close to shops and natural spaces. These additional perks have a great positive impact on your mental health and well-being. For sole operator businesses like freelancers or remote workers, coworking spaces offer them social interaction that they might otherwise lack if they worked from home,” Butt said.
“One of the problems that we faced while working from home during the pandemic was that people tended not to have a clocking off time, and the work day just took over and blended into their personal lives. Having the structure of going to a place to work offers people the structure of having to leave work.”
“Localising your business’ supply chain is a great contribution to your local business environment. Besides opening the channels of building local channels of networks, it brings along the environmental and logistical benefit of partnering with local businesses. This results in a better local economy too. Besides this, there are many logistical benefits of using local suppliers, such as efficiency of communications and lowering logistical risks. There can also be cost savings in utilizing local suppliers regularly,” Butt added.
“Employees who are happy and satisfied with their work situations are less likely to want to move on,” Butt said.
“Studies have shown that even the occasional use of flexible work arrangements can significantly improve a worker’s workplace satisfaction, translating to higher employee retention. As for the younger members of our workforce, millennials have shown to regard workplace flexibility as a high-ranking factor in their work ethic, often ranking higher than income. Offering them flexibility in their working arrangements can greatly reduce the cost to your business of regular recruitment and training that results from hiring turnovers.”
“Coworking spaces are redefining the concept of collaboration. By offering a common platform for different businesses, the close proximity of a mixture of businesses creates opportunities for businesses to come together in a way that’s mutually beneficial,” Butt said.
“The exchange of expertise and knowledge offers a huge opportunity for mutual learning and other forms of collaboration. In many cases, it also gives smaller start-up companies the chance to team up with bigger companies.”
Intuitively designed workspaces for the future
“Flexible office spaces offer businesses a variety of advantages without the trappings of traditional long-term leases that lock you in at significant cost,” Butt said.
“Office spaces can be tailored and scaled to meet the needs of growing businesses. This is very important for businesses that need the ability to change their circumstances quickly without being financially penalized.”
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