Discover the keys to the future of work that revolve around the concept of the “ fifteen minute trip ”
New study reveals how Covid-19 has transformed the way FTSE 250 entities will use their workspaces in the future. The survey from IWG, the world’s largest commercial office operator, shows that the number of companies in the FTSE 250 index that are switching to a hybrid office model is three times higher than before the pandemic.
Over the past year, the way organizations operate has changed as businesses around the world have seen how their employees can maintain their engagement and productivity using a hybrid work model: at home, in a local office, and, sometimes in an office. IWG predicts that the future of work will revolve around the concept of a ’15 minute commute to work’, with all key services within a short drive of home.
Of the 501 FTSE 250 business leaders surveyed in the UK, a third (32%) say all of their workforce is currently working remotely, while two in five (40%) have been more open to it. adoption of this flexible form to work to facilitate childcare or physical exercise during the day.
The future is flexible
Many FTSE 250 companies have already adopted a more decentralized structure through a “star” model. So far this year, the number of users of the IWG network has grown by half a million, with another million in the pipeline. In March, IWG signed its largest contract with the Nippon Telegraph and Telephone Corporation for its 300,000 employees to work from one of IWG’s 3,500 workspaces around the world. This agreement is in addition to other similar agreements with large companies, such as Standard Chartered to provide services to its 95,000 employees.
The survey results show that other companies are likely to follow suit. Only 13% expect their employees to return to their current full-time offices by the end of the year. As a result, companies are re-evaluating their office space, with 38% looking to downsize and 42% planning to relocate or invest in a shared office.
Escape the city
The pandemic has also caused an office exodus in city centers, as nearly half (49%) of companies surveyed plan to relocate their headquarters to areas where their workforce typically resides. The IWG study also found that a workspace closer to home is a long-term priority for workers, who want to keep reducing commuting and increasing time spent with family. they experienced in 2020. In fact, 77% of employees say a location closer to home is a critical requirement for their next job change.
The 15-minute commute to work
While planners have long advocated the concept of a ’15 minute city’, IWG believes that this shift in attitude implies that the move towards the hybrid work model is well underway, as there has been real growth in interest. desks. “The 15-Minute City” is about to become a reality around the world. To launch this project, IWG has teamed up with architecture studio B&H to show what reality will look like in Brighton (UK) and Washington DC (USA).
Mark Dixon, Founder and CEO of IWG explained that “the pandemic has demonstrated the global ability of employees to work effectively in different ways and in different locations. Our research shows that hybrid work will remain popular with workers and businesses.
Employees have realized the hours wasted moving to an office where they don’t need to be, while companies have found that a hybrid model not only allows more satisfied and engaged employees to save money. significant costs. This change also has the potential to transform local economies; In 2019, we predicted that over the next 10 years local economies would benefit from £ 12bn as a result of the consolidation of the hybrid workforce. The pandemic has accelerated this trend, but it will also likely increase the number we estimate.
The continued demand to work closer to home in the heart of communities will make the ’15 minute commute to work’ a reality in the UK and around the world. “
In the past two years, virtually all IWG center openings have taken place in outlying locations far from urban centers. Compared to the pre-pandemic period, demand for IWG centers increased by 32% in suburban areas during the first quarter of 2021. Interest in rural offices increased by 20% during the same period.
IWG provides flexible workspaces in comfortable locations, which, along with the latest technology, allow teams to collaborate better and more efficiently. IWG also offers lower rental contractual commitments, thus providing the greatest possible flexibility.
Doug Demers, Senior Managing Director of B&H, said: “The 15 minute commute to work is becoming a reality around the world, and the keys are the same wherever you go, as our visualization of Brighton shows. People want to access naturally needed facilities and services throughout a working day, but other factors are also becoming more relevant such as green spaces, places of collaboration or hubs for meeting and working locally with colleagues. .