Evolving working landscape

> Exploring the changes in demands of the workforce and transforming with the times

Aworld study reported more than two-thirds of global employees work remotely every week, and over 50% do for at least half the week. The figures herald for a major reassessment of corporate real estate.

Emergence of this mobile workforce is deemed driven by technological advancement, globalisation and change in employee expectations.

IWG, parent group of leading workspace companies that include Regus and Spaces released this information. It was based on insights from a study that involved over 18,000 business persons across 96 companies. It revealed that every week, 70% of employees are working at least once a week out of the office.

More than half (53%) work remotely for half of the week or more, whilst more than one in 10 (11%), work out of their company office building five times a week.

Said founder and CEO of IWG, Mark Dixon: “People from Seattle to Singapore, London to Lagos, no longer need to spend so much time in a particular office.

“We are entering the era of the mobile workforce and it is hugely exciting. Not just for individual employees, but for businesses too. There is a huge shift in the workspace landscape globally, and businesses are now looking closely at what this means for their corporate real estate portfolios.”

The study also found that Malaysian businesses recognised that offering flexible working strategies to their employees came with significant benefits: Business growth (94%). Competitiveness (96%) Productivity (92%). Attracting and retaining top talent (80%). Profit maximisation (90%). While for generations, the world has understood officebased work to be carried out at a fixed location via a nine-to-five schedule, an unprecedented number of businesses are now adopting a different working model, one which benefits employee and employer.

According to the survey, flexible working reduces commuting time, enhances productivity, improves staff retention, boosts job satisfaction and even creativity. This is in addition to the financial and strategic advantages that it brings for businesses.

The move to flexible workspaces reflects the changing demands and expectations of the workforce.

Apparently 80% of Malaysian businesses claim that providing access to a huge network of flexible workspaces helps attract more talent, and 88% agree that remote working locations help employees achieve better work-life balance.

These convey the need for businesses to provide suitable working environments for today’s employees to maintain a first-class workforce.

A resounding 92% of Malaysian businesses claimed that flexible workspaces enable employees to be more productive while on the move.

To this, IWG Group managing director and global head of Brands and Ventures, Ian Hallet said: “New technologies mean many of us can now work anytime, anywhere. The challenge for businesses is to optimise this new landscape. Companies are realising the benefits of flexible working and its ability to increase productivity, job satisfaction and business performance.”

The survey also showed that flexible working and the use of shared workspaces are no longer the preserve of startups.

And some of the world’s most successful businesses/ companies – Etihad Airways, Diesel, GSK, Mastercard, Microsoft, Oracle and Uber – are already adopting a flexible workspace approach.

“Changes in technology and digitalisation have led to a growing use of on-demand services generally in business, with organisations of all sizes wanting to increasingly outsource non-core activities,” said Dixon.

“Flexible working, supported by a professional on-demand workspace network, is now being discussed by senior leaders across functions in companies including risk management, business development, human resources, marketing and strategy.

“One day soon, flexible working could simply be known as ‘working’ ... we are reaching the tipping point,” he said.