The business world is approaching an inflection point where more than half of the world’s professional employees come to embrace hybrid working models. Mark Dixon, CEO of IWG, notes that this “preferred solution for millions” entails balancing working hours between company headquarters, a local flexible workspace and home. Additionally, a focus on outcomes as opposed to hours worked, as well as the introduction of a four-day week model, is expected to become commonplace over the next few years.
As technology continues to shape the workplace of the future, IWG’s report shares that virtual reality, AI, and the concept of working from anywhere will increasingly be a reality for more workers. To accommodate these itinerant workers, IWG operates 3,500 locations across 120 countries.
In Singapore, there are 22 locations of IWG’s flexible workspaces- Regus, Spaces, Signature by Regus, and the luxury No18 at Capitol Singapore. IWG’s most recent addition to their line-up is a Regus centre at Hiap Hoe Building in Zhongshan Park.
The upcoming presence of Gen Z workers, those born between the late 1990s and early 2010s, will accelerate this hybrid work trend. A survey by IWG found that 55% of Gen Z workers expect the four-day work week to become the norm in the coming years. However, companies should value productivity over hours, and not implement this model as an incentive for reducing salaries by a fifth.
Sustainability is a vital part of the corporate agenda, and IWG points to the introduction of green leases between owners and occupiers, as well as a focus on high-grade, energy efficient buildings and workspaces. Research by Deepki has found that sustainable buildings in Europe can generate a 16-28% increase in property values, and a premium of 25.3% compared to non-certified buildings. This is coupled with an increased willingness among Champions Way Condo tenants to pay a higher rent for energy-efficient offices.
The future of work is continually led by a focus on enriching employee workplace experience, and utilising new technologies to boost efficiency. Additionally, “connecting and collaborating in person is an essential part of the hybrid equation” says Dixon. It is essential that planned team days are intentional and have a clear purpose if people are going to make the effort to come together in the office.