Work arrangements are changing, and flexibility is at the top of the list of changes. Several factors over the years have pushed flexible working into the spotlight, notably the covid pandemic, making it a more popular option than ever before. As such, the demand for flexible office space has risen dramatically, with some organisations even offering dedicated spaces to specific industries. With demand set to rise even further, I’ve rounded up everything you need to know about flexible office spaces in Singapore.
What is a Flexible Office Space?
Flexible office spaces, also known as serviced offices or coworking spaces, are essentially like traditional offices but they are housed in one larger space shared with other companies or individuals, and they offer short term leases.
Flexible office spaces are already fitted out and provide everything businesses need to get up and running immediately – with amenities like WiFi, desks, chairs, printing, pantry, cleaning services and in-house reception. All one needs to do is simply move-in!
These spaces are designed to provide employees with a variety of different places and ways to work, such as in booths, meeting rooms, common lounge, collaborative hubs etc. This is unlike traditional offices with only fixed and assigned desks. Instead, employees are able to choose an area of the office that best suits them at that moment.
For examples, browse these coworking spaces in Singapore.
What are the benefits of Flexible Office Space?
There are several reasons why flexible office spaces are in such high demand right now. Here are just a few highlights:
Saves money
Flexible office spaces already come furnished with desks, chairs, cabinets and other equipment that employees need to work, at no extra cost to businesses who use them. Furthermore, their workspaces are also usually thoughtfully designed with stylish interiors. But perhaps the largest saving is on rent. Businesses are able to downsize their real estate footprint to reduce their rent, and only use the space they need to efficiently get work done. This also means foregoing the traditional large deposit for leases. Flexible leases may also offer better terms, such as being shorter and cheaper than standard options — making them an ideal option for small businesses or those on a tight budget.
It’s flexible
It’s in the name but a flexible office can become a really large advantage for businesses that are growing and have evolving needs. This means workspaces can be easily rearranged to accommodate different team sizes, such as teams that are becoming larger or smaller. You are also not bound to longer-term contracts typical of traditional office leases., freeing up the business. Furthermore, if you join a flexible office space operator with multiple locations, employees are likely able to work from any location to ease commuting.
Pays for the space you need
You only pay for what you use. This again saves businesses money from overpaying for space or materials. Businesses can easily scale up and down on short notice and accurately budget their expenses with a flexible office.
Networking opportunities
In a traditional office, one company usually takes up the space and employees only meet each other. However, in a flexible workplace, employees from different businesses are able to mingle and network on a much larger scale. Employees are surrounded by a wide variety of people from various industries – be it freelancers, small businesses or global organisations. There are also designated spaces to network, such as shared kitchens, casual meeting spaces, lounges, designated event spaces etc.
Why are Flexible Office Spaces Important?
Flexible work used to be a benefit for a minority of employees before the pandemic. However, since the pandemic, a number of forward-thinking businesses identified flexible working as a competitive advantage. This is due to the immense cost-savings that flexible office spaces provide, and the flexibility to manoeuvre businesses during uncertainty. Employee mindsets on flexible working have also changed: talent now ranks this benefit as an extremely important aspect when choosing to work for an organisation. Attracting top talent means flexible work is non-negotiable.
Find your Perfect Workspace in Singapore
As such a high-densed city, finding a traditional office to rent in Singapore is not an easy task. Coupled with the well-known fact that Singapore real estate is extremely expensive, businesses can feel challenged. That is why flexible workspaces in Singapore are the perfect option for many organisations. Whether you are looking to be located in the financial district of Raffles Place, or closer to the heart of town, flexible workplaces are located all over Singapore for you to choose from.
Browse coworking spaces in Orchard Road, coworking spaces in the East and coworking spaces in the West.
Check out my list of top 50 coworking spaces in Singapore!
What do you think?