More than three-fourths of UK businesses in a recent survey are looking for a new workspace, specifically flexible or co-working spaces.
The survey of 1,002 senior executives by digital infrastructure specialist NCG found that 76% of organisations are actively considering changing their workspace or expect to do so in the next 12 months, and 59% said that flexible spaces are the best fit for them. Moreover, 45% of businesses currently using flexible workspaces are unlikely to rent a private office in the future.
“The times have changed,” NCG CEO Thomas Proctor said. “Today, businesses have so much choice of where their employees can work. Clearly, leased and serviced offices remain popular, but flexible and co-working spaces are on the rise, while pay-as-you-go spaces are also becoming an attractive option for businesses that are largely remote but meet in person on occasion.”
The survey found that 70% of businesses currently use an office or workspace on a hybrid (46%) or full-time (24%) basis.
More than ever, UK companies are using a mix of office spaces: Serviced offices (37%) were the most common type of space cited in the survey, followed closely by office and meeting space hired by the hour or day (36%), private offices (35%), and flexible or co-working space (32%). Many employers use more than one type of space to meet their needs.
“There are significant knock-on effects for the entire office and commercial real estate sectors,” Proctor said. “Ultimately, choice is power, and our research highlights that businesses are constantly evaluating their options. This means that delivering great spaces and great experiences is imperative. Otherwise, as our data proves, businesses will simply vote with their feet.”
— To comment on this article or to suggest an idea for another article, contact Kevin Brewer at Kevin.Brewer@aicpa-cima.com.
