The shift to hybrid working, enabled by technology and increased flexibility towards work-life balance, has been a game-changer for businesses. While this trend may have removed some of the necessity for permanent office space, there are still many benefits that come from having a designated place to work.
Despite being in a period where home offices and coworking spaces have become increasingly popular, maintaining an office space is still an important part of doing business. We take a closer look at the significance of having a flexible office space that fits with the hybrid work model.
Why office space is important for any business
Renting office space is still an important consideration for companies looking to both expand their business and bring their team together in person. Having the right workspace allows your company to create a professional environment with better resources and amenities for more productive work.
In addition, having a physical office can provide employees with more space to work, as well as provide real connections which is important for teams and collaboration.
What is the key to a successful hybrid work model?
It's really important to have the right office space for you and your team, even when adopting a hybrid way of working. Having a designated workspace boosts productivity and builds a great office culture, meaning your employees feel excited to come to work.
But aside from having a productive workspace, how else can having an office space benefit your hybrid team?
Boosts morale
Giving employees the flexibility to balance home and work life through hybrid working can be beneficial for everyone, resulting in happier, more productive workers. Hybrid working provides better opportunities for work-life balance, reducing commute times, stress and providing teams with more hours in the day for recuperation and leisure activities.
Company community
For businesses looking to maximise their team potential and create a truly positive company culture, supporting team members and promoting work-life balance is crucial.
Research has shown that providing flexible working schedules can be an incredibly effective way of improving employees' satisfaction - by offering the best aspects from both traditional office setups and remote working.
By supporting hybrid working, teams can feel a greater connection to a company’s purpose, enjoy a sense of community and seek support from others to boost productivity.
Room for events
Bringing a hybrid team together in person can be a great way to remind them that their work contributes to a company’s overall success. Plus, there are many benefits of being face-to-face with your employees, including opportunities to conduct team building, build stronger connections and enhance future communication. Not every event needs to be strictly work, after all, but having a space for business events, social and seasonal parties can help employees feel better connected.
Whatever the event may be, it can be a great way to get the team talking.
Meeting space
Whether it’s a place for quarterly business meetings, or a space to brainstorm face-to-face, having a secure and professional location can make all the difference to important meetings.
Maybe you have a physical product to discuss, or simply want to engage with your team and/or clients in person to really build upon those professional relationships.
Types of office space
There are many types of office spaces, all of which can benefit employees, business owners and those who freelance. Usually, when we think about office spaces, we think of a serviced office space packed full of nine-to-five commuter workers.
Whilst that type of traditional office is still very much alive today, there are now also many more workspace options for businesses to choose from. It's just about choosing the one that suits your business goals and your team to help create the company culture you're striving for.
Private offices
No matter what your business does, it's important to have a private and personal space. It may be that you need somewhere to store sensitive information or paperwork; either way, private offices are smaller spaces with additional security such as pass access.
Custom offices
With a customisable office there is more flexibility for you to create a space that works for your business. You can move the layout of your desks around, create a breakout space and perhaps add branded features to the walls. So, even when renting an office, the design and space match your business personality.
Day offices
Day offices are physical office spaces that you can hire for a day. You may even find some providers that will rent out spaces to you by the hour, which is beneficial for businesses to secure a physical space with the features of a traditional private office, without the long-term commitment. If you're managing a team for a specific project or travelling for work, day office rentals are much more cost-effective than a long-term office agreement.
For hybrid teams, the need for an office may not be on a consistent schedule, which means that renting an office space as and when it is required can be of greater benefit. With this, there is added flexibility for hybrid workers to come together last minute, as well as have a professional setting when client meetings arise.
Office packages
Typically, office packages will include everything you need for a working day, such as call answering, mail handling, receptionist to greet guests, meeting room access, as well as the office itself being serviced and maintained for you. As well as these great benefits, an office package will typically include temporary office space for a number of days each month, offering hybrid workers a productive workspace to get things done. Plus, with separation from their home life, hybrid teams can enjoy greater work-life balance.
Depending on the plan you choose, elements such as printing facilities, breakout rooms, and a place to make a cup of coffee can be included.
You can utilise packages that include access to lounges with WiFi and printing services all the way up to office packages with coworking spaces, access to meeting rooms and private office access.
Who can use a serviced office space?
Flexible office space can be a great option for businesses looking to rent a workspace without the stress of a long office agreement or expensive running costs. For example, a serviced office may offer flexible terms, meaning that you can rent for short or long-term periods of time.
New companies and start-ups
Since coworking and office spaces tend to have more flexible terms, they're ideal for start-ups and small businesses that need to establish themselves quickly, to a budget.
If you’re a new company starting out in the new hybrid way of working, having an office space to bring your team together can be crucial to boosting morale and productivity - especially as you make the switch from either fully remote or working in an office full-time. Whilst some may prefer a hybrid working approach, some may opt for a hot desk office environment where they can be more productive and separate work from home.
Expanding businesses
Hybrid ways of working have made it much easier for businesses looking to scale up and expand their company far and wide. Serviced office spaces are the cost-effective way for businesses to branch out into new locations with a fully remote or hybrid working team. This means that growing businesses can test the water in new locations, without committing to a permanent office space.
Entrepreneurs and small teams
Many businesses with small teams and freelancers are typically working fully remotely or in a hybrid manner. Whilst for some, home working may be a suitable arrangement, others prefer the support of others around them. As an entrepreneur, surrounding yourself with an inspired mix of people can make you more productive and offer opportunities for collaboration.
The benefits of office space in a hybrid world
Businesses looking to streamline the way they work within a hybrid workplace can do so by renting an office space. This solution offers plenty of benefits to companies of all sizes, making room for hybrid workers to productively work together, close to home.
Cost-effective
As a business with team members that are hybrid working, making the most of your office space is super important. If you were to take out a lengthy office agreement in a traditional office, you may be wasting money by paying for an office full-time which may often be empty. Consider downsizing your office space and creating a schedule where different teams have alternate days to come in. Alternatively, securing a coworking space can be just as beneficial to businesses, providing a place to carry out tasks and meetings at a more affordable rate.
Opting for a flexible office space allows you to save on expensive overheads while giving you the flexibility to have a designated workspace when you need it. As a growing business, you can upscale your office requirements as you grow, without the long-term commitment.
Flexibility
While many businesses may have downsized during the pandemic or even given up their office space entirely, with the rise of hybrid working, there’s now an even greater demand for flexible spaces.
By securing a permanent office space, with the ability to upscale your requirements, you’re able to provide a space where employees can work on their schedule according to your business's changing needs.
Providing somewhere for employees to easily connect and collaborate, where they might not be able to do so digitally, is imperative to the success of a hybrid business. One should also consider the office layout, ensuring it’s adapted to accommodate employees being in the office a couple of times a week. Open plan designs and hot desking will be important.
Useful facilities
These days, office space is a diverse hub that creates a great company culture and is somewhere people want to be. Since the pandemic, more workers strive for a better work-life balance, meaning that as well as fully equipped meeting rooms, having a space to unwind and recharge when your team isn’t working is essential.
Don't forget to consider other services that have been forgotten while working at home, such as an on-site receptionist to greet clients, printing facilities and refreshments. These facilities may seem small, but the added personalisation it provides can make all the difference in everyday work.
Varied locations
No matter where your business is based, there are many different office spaces to choose from. Here at Regus, we provide access to over 3,500 locations globally, so you'll never be short of office space to rent that matches your business needs. Plus, if your team is based across the country (or even the world), we make it easier than ever for small teams to come together and share a productive workspace that suits their location.
With a hybrid working team, there are many opportunities to bring your team together for collaborative working globally. Whether you're seeking an ongoing solution or day office space rental, we make it easy to have a productive workspace whenever you need it.
Networking opportunities
Many office providers look to build communities, offering events, hackathons and networking sessions - giving you opportunities to grow your contact list and collaborate in ways which you wouldn’t experience from a fully remote business. For hybrid team members, coworking spaces can be the perfect platform to work alongside like-minded creatives.
Reliable technology ready for you to use
Building your company and winning clients can be difficult enough, without dealing with tech issues within the home too. Due to the new age of working, it is now incredibly common to hold video conference calls with new and potential clients, making fast and secure WiFi a must. Providing an alternative option for employees to complete their work or attend meetings can be key to reducing work-induced stress and improving productivity.
With most office spaces, you can expect a combination of facilities such as high-speed WiFi, printing services, AV equipment and access to tools such as whiteboards and flip-charts.
How an office space can benefit your employees
You may find that your employees are more productive, happier and more efficient when working in an office environment. With many businesses adopting a hybrid way of working, a flexible office space or coworking space could be a more sensible and cost-effective solution.
Professional environment
Having a physical office space for your employees allows them to work at their best, work collaboratively and boost their professional development. Not everyone will have ample space to freely work at home, with flat sharing a popular way of living, especially in cities.
Even if you have some employees who want to work remotely every so often, renting a coworking space for them to meet up with colleagues and work on projects when required, can promote a healthy work-life balance.
Work-life balance
The hybrid way of working has become incredibly popular, across start-ups and global brands. Not only does it create a better work-life balance, but it also gives workers the option of working closer to home as well as remotely. Rather than have one central permanent office space, businesses are looking to create hubs in multiple locations that are better suited to their hybrid team.
Increased productivity and collaboration
When employees feel happy and comfortable in their workspace, they not only feel more engaged with their work but are more productive in their working day. While many types of work can be done remotely, bringing team members together can be beneficial for brainstorming and tackling creative problems that may not be easily done online, with workers easily able to engage and bounce ideas off each other.
Creative spaces to encourage productivity
Having all your team in the same office is great for boosting morale and productivity. Whilst some office workers may prefer their own space, others may want to split their time between working from home and in an office environment so they feel less isolated.
Being in the same office space allows you and your team to communicate face-to-face and engage more freely. Renting a flexible office space is perfect for getting your team together when needed, without the expense of paying for a traditional office full-time.
But it isn't just about being together, but the space itself. A creative environment can help your team thrive and perform. You may want to consider how a custom office will help you to create a productive and positive work environment for your team.
Breakout spaces for team meetings
Although working from home has the added benefit of home luxuries, it can be difficult to separate home and work life, especially when it comes to meetings.
A serviced office space can give you access to meeting rooms, for more focused meetings and training sessions. Plus, if you have clients visiting, you'll be well-equipped to make a great impression.
Varied facilities to suit your business
Whether you’re looking to fully customise your office space, hire an office by the day or secure a space long term, facilities are important. From business-grade technology and support services, to well-being spaces, it’s important to consider what your hybrid team needs and how they work.
No matter your way of working, get in touch with Regus today and find out more about our flexible offices. With locations all around the world, you'll be sure to find an office space that works for you.
