What is flexible office space?

Flexible office spaces are like a chameleon for your business – they can be whatever you need them to be. Whether it’s coworking spaces, shared workspaces, serviced offices, or hot desks, flexible offices adapt to your style and needs.

Since the pandemic, the demand for these adaptable work environments has skyrocketed. Businesses everywhere are shifting towards a more flexible approach to work-life balance. Remote and hybrid work models are the new norm, giving employees the freedom to balance their work and personal lives more effectively.

In this blog we’ll explore:

• Understanding Flexible Office Space
• Traditional Offices vs. Flexible Offices: How do they compare?
• Different Types of Flexible Office Spaces
• The Benefits of Flexible Office Space
• How Flexible Office Space Can Improve Your Business
• Who Should Consider Flexible Office Space?

Understanding Flexible Office Space

Imagine a workspace that moulds to fit your team’s vibe. Whether you’re heads down at a desk, chilling in a breakout area, or brainstorming in a creative corner, flexible workspaces keep things interesting and productive.

These spaces are perfect for businesses that want to give their employees more control over their work-life balance while boosting productivity and networking opportunities. It’s a win-win.

Traditional Offices Vs Flexible Offices: How do they compare?

There’s a lot of buzz about flexible versus traditional offices. With remote and hybrid work on the rise, more businesses are leaning towards flexible spaces that offer more perks.

In fact, 72% of UK employers offer total work location flexibility for their corporate employees, while only 28% require staff to be in the office full time. But what’s the real deal?

Different types of flexible office spaces

There are various different types of flex spaces that could serve your business needs, here are the different types and what they offer:

Serviced offices

Serviced offices are your plug-and-play option. Managed and maintained by another company, these spaces are perfect if you want to hit the ground running without worrying about the details.

If you’re looking for an office you can move into and crack on with business asap, serviced offices are probably a good choice for you. 

Managed offices

If your business is big enough to have managed offices, you know you’re doing well.

Managed offices give you the whole shebang – a full floor or building to customise as you see fit. Great for businesses that want complete control over their space.

Shared offices

A shared office provides space for multiple businesses to work in the same area and share the same facilities. They are often suited to businesses or startups who are looking for a part-time lease, where one company rents it for 1-3 days a week and the remaining days are rented by a different company. You get all the benefits of an office without the full-time commitment.

Coworking spaces

Coworking spaces are like the Swiss Army knife of office spaces – versatile, flexible, and perfect for freelancers, individuals or small teams who want to meet up and collaborate in a vibrant environment.

Since the COVID-19 pandemic and the rise of hybrid and remote working, they have become increasingly popular as go-betweens for teams from one business to meet and collaborate. They’re so popular in fact, that the percentage of remote workers using coworking spaces is expected to double by 2026. 

Coworking offices offer a flexible approach to working, as they can often be booked on demand.

Satellite offices

Satellite offices are additional branches of a larger company that are in a different location to their main offices.  They’re suited to businesses wanting to create a productive and collaborative work environment for employees outside of their main offices.

They’re a particularly great option when looking for talent in different areas or countries. They provide an office for employees to work from in a new location, making it easier to collaborate and work with their team in person.

Virtual offices

A virtual office allows businesses to get all the benefits of a physical office space, without actually having to rent a full office space.

They’re perfect for businesses wanting to dip their toe in the water in a new location before fully committing to a satellite office. They often include many benefits such as:

• A different postal address (a great option for entrepreneurs just starting from home)
• A receptionist that takes calls for your business so you don’t have to provide your personal phone number, open mail to your virtual postal address and scan it over to you.
• Access to meeting rooms, so if you were looking for talent or opportunities in the area, you have somewhere to meet with them.

Not all virtual offices will provide all of these services, so it’s worth checking what’s on offer before you commit to a virtual location.

Hot desks

Hot desks often get confused with coworking spaces, but they are related. ‘Hot desk’ just means not having an ‘assigned’ to seat in. Office spaces tend to have hot desks if the employees are hybrid or remote, and co-working space will almost always be made up of hot desks (which is where the confusion comes from).

Different offices for different businesses

With so many options, how do you choose the right one? It all depends on what your business needs.
A creative business might thrive in an open, airy workspace, while a corporate team might prefer assigned seating and easy access to coffee and tea. The key is finding the right fit for your team’s vibe and your business goals.

The Benefits of Flexible Office Space

There are many benefits when it comes to choosing office space, from how much money you spend to location and whether it aligns with your business goals and future plans. 

Cost efficiency

Flexible offices can help businesses manage costs more efficiently than traditional leases. Unlike traditional office leases, they don’t require an upfront cost to fit-out the office, pay security deposits and furniture expenses. 

Flexible offices come with all this ready for you to move in and start work, usually on a shorter term commitment with added flexibility. Having shared amenities such as meeting rooms, reception, kitchen areas, parking, showers etc. make flexible offices a popular option for new businesses, as it reduces the need to invest in and maintain their own amenities. 

Scalability

If you need to scale up, or scale down, flexible office spaces generally have the ability to flex to your business needs by easily being able to adjust the amount of space you rent without being locked into a long-term lease. 

Unlike traditional offices, leases can range from month-to-month rolling contracts to 1-3 year leases depending on your business needs. Shorter term leases reduce the risk of paying for unused space during downturns, or unforeseen circumstances (like a global pandemic). 

Collaboration and networking

Many flexible office spaces come with a community atmosphere that is welcoming and makes it easy to find new connections.

Think about it, if you’re working in a shared office space with entrepreneurs and individuals, you’ll have a lot more resources at your disposal than if you were working in your own, managed offices, siloed from other small businesses and freelancers. 

Many buildings also hold events to help businesses connect and find services local to them. 

Employee satisfaction and productivity

Flexible office spaces are a big win when it comes to keeping employees happy and productive. Why? Because they let people choose how and where they work best.

Whether it’s finding a quiet corner to focus or a cosy spot to collaborate, flexible offices cater to everyone’s needs. This not only boosts morale but also helps people get more done in a way that feels good to them (and benefits your business!).

How Flexible Office Space Can Improve Your Business

Adaptability

Change happens. When it does, flexible office spaces make it easier for your business to adapt. Whether you’re expanding, downsizing, or just need a new kind of workspace, these spaces give you the freedom to adjust without the stress of long-term commitments.

Attracting Talent

Today’s top talent is looking for more than just a paycheck – they want a workplace that fits their lifestyle.

Offering a flexible office space can make your business more attractive to potential employees. It shows that you value their needs and are willing to provide a work environment that’s modern, comfortable, and adaptable.

Supporting Hybrid Work Models

With more businesses embracing hybrid work, flexible office spaces are the perfect fit. They provide a blend of spaces for both in-office and remote workers, making it easy for your team to stay connected and productive, no matter where they’re working from.

Who Should Consider Flexible Office Space?

Startups and Entrepreneurs

If you’re running a startup or a small business, flexible office spaces are a great choice. They allow you to grow without the worry of long-term leases. Plus, the vibrant, community-focused environment is perfect for networking and finding new opportunities.

Small to Medium Enterprises (SMEs)

SMEs can benefit from the cost savings and flexibility these spaces offer. With shared amenities and short-term contracts, you can focus more on growing your business and less on worrying about expensive leases.

Corporate Teams and Satellite Offices

For corporate teams and satellite offices, flexible spaces are a smart solution. They provide a professional environment without the hassle of long-term commitments, making it easier to set up a new branch or project team in a different location.

How to Choose the Right Flexible Office Space for Your Business

Assessing Your Office Needs

First things first – figure out what your business needs. How big is your team? What amenities are must-haves? Do you need a space that supports collaboration, or one that’s more about quiet focus? Knowing these details will help you pick the right space for your team and your business.

Exploring Flexible Office Options

Don’t rush the decision. Take your time to explore different options. Whether it’s a serviced office, coworking space, or virtual office, each type offers something unique. Make sure to choose one that aligns with your business goals and work style.

Making an Informed Decision

Choosing the right office space is a big deal. It’s worth doing your homework to make sure the space you pick supports your business and helps your team thrive. Consider location, cost, and the specific features each option offers. The right space should feel like a natural fit for your business now and in the future.

Explore the Benefits of Flexible Office Space

Flexible office spaces are more than just a trend – they’re a smart choice for businesses looking to stay adaptable in an ever-changing world. Whether you’re seeking a space that grows with you, supports hybrid work, or simply inspires creativity, there’s a flexible office option that can meet your needs.

We’ve explored how flexible offices differ from traditional setups, the variety of spaces available, and the many benefits they offer – from cost savings to improved employee satisfaction.

In essence, flexible office spaces provide the freedom to create an environment that truly fits your business. They’re designed to evolve with your company, making them a great option for businesses of all sizes.