How Flexible Offices Could Help Your Business Grow

Flexible offices are one of the top office trends we've seen this year, helping many businesses take their operations to the next level — especially with the rise of flexible and agile working.

As we navigate our way through a period of slowing growth and restricted spending, businesses need to spend their budget wisely and as effectively as possible. Whether it's keeping costs low by only using what they need, wanting greater freedom with their lease arrangement or something else entirely, there are many reasons to explore the many great flexible offices in London.

In this article, we'll look at how businesses have grown thanks to flexible offices, what the core flexible office benefits are and how Knight Frank can help you find your perfect office space in London.

What Is Flexible Working in Business?

Flexible working has taken the UK by storm as employees have become aware that they don't always need to spend every working day in the office, and are more than capable of doing their job effectively from home or even a different location. As a result, many businesses have been left with office space that isn't being used to its full potential, which means that budget is being needlessly allocated to spaces that are no longer fit for purpose.

If you’re wondering, "what is flexible working in a business?" you're not alone. This actually will vary on a business-by-business basis. For some businesses, this can mean having flexible business hours, so employees can choose their start and finish times (providing that core office business hours are being met). For others, this could mean having a work-from-home scheme in place, which grants employees the opportunity to choose how often they commute into the office. This makes childcare and other personal arrangements much easier to organise, which can hugely benefit the work-life balance of the team.

In short, flexible working is challenging to define because it's flexible by nature. Many businesses are still deciding what it means for them — this isn't a quick process — taking time to see what helps the team and the company as a whole benefit the most. There has to be a trade-off between the employee getting a flexible arrangement and the business getting the most favourable outcome, maximising productivity and satisfaction for all parties.

Benefits of Flexible Offices

Beyond just providing a flexible solution for the modern workforce, there are many benefits for businesses with flexible offices. These flexible office spaces are well-suited to businesses looking to reduce their costs by only leasing what they need, which is essential when employees aren't spending every day in the office. Likewise, many flexible offices come with shorter leases that provide much more freedom for businesses and scalable solutions to suit dynamic teams.

Reduced costs

For businesses looking to reduce their overhead costs, flexible offices are a great solution to consider. As modern workers spend less time in the office in favour of remote working, it doesn't make sense for many businesses to continue leasing full-size offices to house all their employees. When looking at flexible offices in London, you'll see that many businesses have downsized to get the best value for their budget, not wanting to spend money on empty desks.

Not only does this lower rent, but also operational costs, which is especially important as energy costs continue to rise across the UK. It doesn't make sense for businesses with dynamic teams to pay for entire offices that are not being adequately utilised, especially when many are looking to reduce their spending wherever possible. By simply opting for a flexible office solution, you can save yourself the money of potentially empty desks in a private leased office.

Short-term lease

As the UK's economic climate continues to behave in unusual ways, it makes sense that many businesses are looking to protect themselves from unforeseen circumstances. Luckily, many flexible offices in London are perfect for businesses not wanting to commit to long leases that could prevent reacting to the fast-changing market.

A short-term lease allows businesses to react better to the changing needs of their workforce, as well as the client base. For example, as your business starts growing, you may find that your workforce or client base is travelling in from a common area, which you may consider moving offices to be closer to. By signing a shorter lease, you can stay reactive and adaptive to changing tides, keeping you ahead of the curve.

Scalable office space

Scalability is highly beneficial for businesses looking to operate flexibly and with greater freedom. For businesses operating in high-growth industries, flexible offices are a great way to react quickly, allowing them to grow faster, without being limited by the office size.

For example, if it's found that your teams can work more effectively from home, without needing to be in the office as much, you can downsize your office space quickly and easily, without being locked into a potentially costly leasehold.

Agile working style

Agile working is a popular working solution for many teams, allowing employees to work in ways that suit them, whilst still ensuring that they're operating at the most productive level possible. This includes spaces for collaboration, inspiration and relaxation, so your employees feel they have the space that can accommodate any working style they may need.

For businesses, a flexible office is a great way to facilitate agile working, as flexible offices naturally have a variety of workspace styles. Open plan offices with private meeting areas, as well as communal sofas and ‘cafe’ style layouts are all typical of a serviced, flexible office, meaning your teams can choose when and how they work through the day.

Flexible Offices With Knight Frank

Knight Frank’s expert team are on hand to help you find the flexible office solution for your business. If you’re ready to move your business to a flexible office workspace, feel free to get in touch for any help. Our team is equipped with the knowledge and expertise to find the best location for your business, at the best prices. And best of all, our service is completely free.