Friday, October 19, 2018

The end of the traditional 9-5? New study finds 70 per cent of us skip the office to work elsewhere
Friday, June 1, 2018 - 12:27:48 AM - By News Bureau
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Mark Dixon, founder and CEO of IWG
NEW DELHI : More than two-thirds of global employees work remotely every week, and over 50% do so for at least half of the week, heralding a major reassessment of corporate real estate, according to a comprehensive new global study.

The emergence of this mobile workforce has been driven by technological change, globalisation and changes in employee expectations, according to IWG, the parent group of leading workspace companies including Regus and Spaces.

IWG has released a study based on the insights of over 18,000 business people across 96 countries. It found that every week 70% of employees are working at least one day a week somewhere other than the office. More than half (53%) work remotely for half of the week or more, whilst more than one in 10 (11%) people work outside of their company’s main office location five times a week.

In India, the survey found that 58% of employees work remotely from locations other than one of their company’s main office locations. The survey highlighted that 40% Indian professionals believed that their companies are wasting significant amounts of money through underused office space. Also, 95% believe flexible working helps their business grow by enabling employees to be more productive while on the move. The flexibility they believe also allows companies to attract more talent (89%) as along with convenience the co-working spaces provide a more creative environment than the regular offices.
Mark Dixon, founder and CEO of IWG, said: “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. This 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 by IWG also found that businesses recognised that offering flexible working strategies to their employees provided them with significant benefits:
• Business growth (89% - up from 67% in 2016)
• Competitiveness (87% up from only 59% in 2014)
• Productivity (82% up from 75% in 2013)
• Attracting and retaining top talent (80% - up from 64% in 2016)
• Profit maximisation (83%)

For generations, the world has understood office-based work to involve a fixed location and a 9-5 schedule. But an unprecedented number of businesses are now adopting a very different working model, which produces benefits for them and their workers.

The IWG survey found that flexible working not only reduces commuting time, but enhances productivity, staff retention, job satisfaction and even creativity. This is in addition to the financial and strategic advantages that it brings for businesses.

Creating a happier, more productive workforce

The move to flexible workspaces reflects the changing demands and expectations of the workforce. 80% of those surveyed agree that flexible working helps them retain top talent whilst 64% are now offering this to help them recruit. Over half (58%) agreed that offering flexible working improves job satisfaction, demonstrating the need for businesses to provide working environments suited to today’s employees to maintain a first-class workforce.
The benefits businesses are experiencing are clear: a resounding 91% said that flexible workspaces enable employees to be more productive while on the move.

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

Everyone is demanding ‘on-demand’

The survey showed also that flexible working and the use of shared workspaces are no longer the preserve of start-ups. The world’s most successful businesses – including varied companies such as Etihad Airways, Diesel, GSK, Mastercard, Microsoft, Oracle and Uber – are already adopting a flexible workspace approach.

Mr Dixon added: “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.

“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.”

IWG Flexible Working Survey:
Over 18,000 professionals from a range of different industries in 96 countries were surveyed in the IWG Flexible Working Survey. The sample is drawn from an IWG global contacts database of over 2.1 million senior businesspeople, managers or business owners, worldwide. The sample is highly representative of senior managers and owners in businesses across the globe. Respondents were canvassed online in January 2018 and contacts were drawn out of a pool of customers, prospects and business leaders from over 100 countries. The survey was independently managed by MindMetre Research. Respondents were asked for their views on the benefits and drivers of flexible working. More information is available at www.iwgplc.com.

About IWG:
IWG is leading the workspace revolution. Our companies help more than 2.5 million people and their businesses to work more productively. We do so by providing a choice of professional, inspiring and collaborative workspaces, communities and services.

Digitalisation and new technologies are transforming the world of work. People want the personal productivity benefits of living and working how and where they want. Businesses want the financial and strategic benefits. Our customers are start-ups, small and medium-sized enterprises, and large multinationals. With unique business goals, people and aspirations. They want workspaces and communities to match their needs. They want choice.

Through our companies we provide that choice, and serve the whole world of work: Regus, Spaces, No18, Basepoint, Open Office and Signature. We create personal, financial and strategic value for businesses of every size. From some of the most exciting companies and well-known organisations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of flexible working to increase their productivity, efficiency, agility and market proximity.

We’re reaching a tipping point. The workspace revolution is coming. Join us at www.iwgplc.com
Mark Dixon
founder and CEO
IWG
end
traditional 9-5
new study
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70 per cent
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work elsewhere