Skip to main content
Facilitate Magazine: Informing Workplace and Facilities Management Professionals - return to the homepage Facilitate magazine logo
  • Search
  • Visit Facilitate Magazine on Facebook
  • Visit Facilitate Magazine on LinkedIn
  • Visit @Facilitate_Mag on Twitter
Visit the website of the Institute of Workplace and Facilities Management Logo of the Institute of Workplace and Facilities Management

Main navigation

  • Home
  • News
    • Comment
    • People
    • Reports
    • Research
  • Features
    • Analysis
    • Features
    • Round Tables
    • Webinars
  • Outsourcing
    • Contract Finder
    • Contracts
    • FM Business Models
    • Interviews
    • Mergers & Acquisitions
    • Opinion
    • Procurement
    • Trends
  • Know-How
    • Explainers
    • Legal Updates
    • White Papers
  • Jobs
  • Topics
    • Workplace Services
      • Hospitality
      • Catering
      • Cleaning
      • Front of House
      • Grounds Maintenance
      • Helpdesk
      • Mailroom
      • Manned Guarding / Security
      • Pest Control
      • Washroom Services
      • Disaster Recovery
      • Specialist Services
    • Professional Performance
      • Behavioural Change
      • Continual Professional Development
      • Education
      • Management
      • Recruitment
      • Training
    • Workplace Performance
      • Benchmarking
      • Health & Wellbeing
      • Operational Readiness
      • Procurement
      • Security
      • Workplace User Experience
      • Workplace Culture
    • Compliance
      • Health & Safety
      • Risk & Business Continuity
      • Standards
      • Statutory Compliance
    • Building Services
      • Architecture & Construction
      • Asset Management
      • Building Controls
      • Building Fabric
      • Drinking Water
      • Fire Protection
      • HVAC
      • Landscaping
      • Mechanical & Electrical
      • Building Security
      • Water, Drainage & Plumbing
    • Technology
      • Building Information Modelling
      • CAFM
      • Data & Networks
      • Document Management
      • Information Management
      • Internet of Things (IoT)
      • Software & Systems
    • Energy management
      • Energy Management Systems
      • Electricity
      • Gas
      • Solar
      • Wind
    • Sustainability
      • Environmental Quality
      • Social Value
      • Waste Management
      • Recycling
    • Workspace Design
      • Agile Working
      • Fit-Out & Refurbishment
      • Inclusive Access
      • Lighting
      • Office Interiors
      • Signage
      • Space Planning
      • Storage
      • Vehicle Management / Parking
      • Washroom
    • Sectors
      • Corporate Office
      • Education
      • Healthcare
      • Manufacturing
      • International
      • Retail
      • Sports & Leisure
      • Regions
  • Buyers' Guide
Quick links:
  • Home
  • Sections
Topics
News

World's largest companies shift focus to flexible workspace

Open-access content Monday 3rd December 2018 — updated 7.14pm, Tuesday 26th May 2020
p12_quiet-zone_CREDIT-Getty

The demand for flexible workspace is set to accelerate globally, reports Herpreet Kaur Grewal.

4 December 2018 | Herpreet Kaur Grewal


The demand for flexible workspace is set to accelerate as over two-thirds of global corporates plan to extend their use of flexible co-working and collaborative space over the next three years, according to property consultant Knight Frank.


The firm's Your Space report, published in November, surveyed senior executives at 120 global companies that collectively employ more than 3.5 million people and occupy 233 million square feet of office space - equivalent to the total amount of office space in central London.


It shows that global companies intend to operate increasingly from flexible, serviced and co-working spaces, those designed to create a collaborative working environment and allow the freedom to expand and contract quickly in line with market conditions.


Earlier this year, commercial property agent Cushman & Wakefield's research also showed that the rise of flexible workplace has been a driving factor in recent positive office performance, particularly in central London.


Across the capital alone, flexible workplace providers have taken nearly 20 per cent of office space, while competition in regional cities is intensifying. Take-up in the UK's largest cities outside of London has jumped from 2 per cent to 7.5 per cent of all leases in 2017, powered by the growth of WeWork and Spaces.


Productivity links to well-being

Despite this revolution, Knight Frank's report states that most global corporates still occupy office space on a traditional lease model. Two-thirds of those surveyed say co-working, serviced and flexible office space comprises 5 per cent or less of their current office space. A small minority, less than 7 per cent, say flexible workspace exceeds a fifth of their total workspace.


But the study shows that the proportion of flexible space within companies' portfolios is set to rise dramatically. Over 69 per cent of global firms plan to increase use of co-working spaces, and 80 per cent expect to expand the amount of collaborative space they use over the next three years.


And almost half (44 per cent) state that flexible space would constitute up to a fifth of all office space in the next three years. An additional 16 per cent estimate that as much as half of their workspace globally would be flexible space within the same time period.


Over half of companies (55 per cent) identified increased flexibility as the main driver of this change, with 11 per cent stating that the sense of community fostered among workers is the main benefit. Another 11 per cent say the greater speed to becoming operational is the primary reason for selecting co-working or serviced office space ahead of more conventional offices. 


The overwhelming majority of respondents - 75 per cent - say personal productivity linked to well-being and happiness would increase as they shift to a flexible and collaborative model of occupancy that is more in keeping with today's business structures and working styles.


Dr Lee Elliott, global head of occupier research at Knight Frank, said: "A decade of global economic uncertainty has reshaped how many of the world's largest companies view workspace. Shorter business planning horizons, together with the emergence of new, more agile corporate structures has driven demand for flexible space that enables companies to react to change quickly." 

Emma Potter

 

Also filed in
Content
Topics
News

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Today's top reads

 

Latest Jobs

Head of Facilities

Norwich
Market competitive salary with excellent benefits package
Reference
59397

Deputy Director of Estate Services

Newcastle-under-Lyme
£75,000 per annum
Reference
59396

Health and Safety Manager

London (Central)
£50,000
Reference
59394
See all jobs »

 

 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to print

Sign up to receive our bi-monthly magazine

Subscribe
Facilitate magazine cover, June 2020
​
FOLLOW US
@Facilitate_Mag
Facilitate Magazine
Facilitate Magazine
CONTACT US
Contact us
Tel: 020 7880 6200
​

IWFM

About IWFM
Become a member
Qualifications
Events

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to Facilitate Magazine
Write for Facilitate Magazine

General

IWFM Jobs
Help

© 2023 • www.facilitatemagazine.com and Facilitate Magazine are published by Redactive Media Group. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ