Global demand for hybrid working has led to a significant increase in flexible, multi-market workspace memberships, according to new data from IWG, the world’s largest flexible workspace company.
Sales of IWG on-demand membership have increased by 93% year-on-year, with the UK (+137%), Spain (+123%) Italy (+93%) and India (+82%) among the rapidly growing markets. The on-demand model gives workers access to more than 3,500 flexspace locations globally, allowing them to take advantage of the greater flexibility offered by hybrid working.
Research shows that the adoption of hybrid working, and utilisation of flexible office space can significantly improve a business’ bottom line. Companies are now saving on traditionally fixed overhead costs including rent, heating, and support staff, adding up to an average of more than £9,000 per employee.
A study by IWG found that three times the number of FTSE 250 companies are looking to use a hybrid office model compared to those looking to carry on in the same way as pre-pandemic. This has been reflected in some of the large enterprise deals IWG has signed in the past 18 months, including Nippon Telegraph and Telephone Corporation for its 300,000 employees to work from any of IWG’s 3,500 workspaces globally, and similar agreement with Standard Chartered for its 95,000 employees.
IWG’s data shows that businesses around the world are shifting to a two or three day office week. In the UK, attendance per day across Tuesday, Wednesday and Thursday are 23% higher than Monday and Friday.
It is also becoming clear that the office is increasingly important for fostering in person collaboration. IWG’s meeting room sales are up 166% year on year globally, as employees seek to make the most of being in the office together. Businesses in Brazil and The Netherlands are leading the trend, with sales up over 200% year on year in each market, followed by the USA with 153%.
IWG CEO Mark Dixon said, “The significant growth of businesses adopting our on-demand model demonstrates that business leaders are well aware of the advantages of hybrid working. This fundamentally people-centric approach enables companies to attract and retain the best talent, which is absolutely key in today’s competitive market.”
He continues: “Ultimately, by adopting hybrid working, businesses save money, gain flexibility, and reduce their carbon footprint, while employees spend less time and money travelling without losing the social aspect of office life.”
https://www.iwgplc.com/en-gb