01 November 2019 | Herpreet Kaur Grewal
Many companies expect to double commitment to co-working in next five years, according to a survey by real estate firm Cushman & Wakefield.
Nearly two-thirds of companies use co-working to some degree, and many corporate respondents expect to double their commitment to co-working over the next five years.
The report reveals corporate perceptions of the value of flexible workspace and co-working strategies.
Cushman & Wakefield partnered with CoreNet Global, a worldwide association of corporate real estate executives, to survey more than 550 key commercial real estate (CRE) executives at organisations around the world.
Participants were asked about their general perceptions of the co-working sector, the pros and cons of using co-working, expected effects on cost, and past and future employee use of flexible office spaces.
Other findings show that one-third of companies using flexible space report occupancy cost savings of more than 5 per cent.
Tamás Polster, head of strategic consulting EMEA in Cushman & Wakefield's global occupier services team, said: "The results show that corporate leaders have a generally positive view of co-working and see flexible space as a growing part of their occupancy strategy."
Polster added: "The percentage of employees with access to flex space is on the rise, and respondents on average plan to have 24 per cent of their staff utilising co-working on a regular basis within the next five years."
Despite an overall positive view of co-working, CRE executives are realistic about the challenges for the workforce.