Today’s business landscape is very different from the pre-pandemic world. The way businesses operate has evolved and traditional employment models have given way to more flexible arrangements. As remote and hybrid work becomes increasingly commonplace, more and more companies are exploring different workspace solutions, including hiring flexible office space. In this guide, we’ll discuss the benefits to help you decide if flexible rental solutions are a good option for your business.
Calculating costs
One of the main reasons why shared office spaces have become so popular is the cost. For some businesses, switching to desk space rental from long-term rental contracts and fixed commercial bases is much more cost-effective. Calculating costs is essential if you’re thinking about embracing flexible hire options, or you’re looking for a new office and you don’t know whether or not to give up a permanent base. Think about your business needs and objectives, the type of company you run and your existing staffing structure. If your employees are already working remotely, or most of the workforce follows a hybrid model, it may make financial sense to swap a traditional office for a flexible, shared workspace. If you have employees in the workplace every day, flexible arrangements may work out more expensive.
Scalability
Flexible office rental can offer benefits for start-ups, established companies and growing brands, as they provide scalable solutions. If you rent premises on a long-term basis or buy an office, you may be limited in terms of size, layout and space. If your business expands, or you’re taking on more employees, you may outgrow your office. Hot-desking and hiring private meeting rooms and coworking spaces enables you to access solutions that suit your needs as your company grows and evolves. You may find that your requirements change from a small number of desks or a compact meeting room to a much larger office space or conference suite, for example.
Location
The location of office premises plays an integral role in dictating costs. If you’re looking for offices in a prime location, rental prices will be significantly higher than in less sought-after locations. Renting on a long-term basis may not be financially viable. If you choose to hire flexible office space, you can access the best locations without blowing your budget. If you operate remotely, for example, but you want to impress clients with a central location, you can organize meetings at a shared space with a prestigious address. Centrally located offices also make it easier for employees to commute and remote teams to get together periodically as they are usually easily accessible via public transport.
Utilizing shared workspaces and facilities that offer flexible hire options has become increasingly popular. If you run a business and you’re exploring new offices, it’s beneficial to think about whether flexible solutions are suitable for your company. Consider your requirements, calculate costs and potential savings and explore different locations before you decide. It’s also helpful to get feedback from your team and weigh up the pros and cons. Some businesses can save money, enhance flexibility for employees and gain access to better-quality office space in prime locations, but abandoning a permanent base is not the best option for every company.
