During the last two-and-a-half years, the pandemic has forced the world of work to change profoundly. The global Covid-19 lockdowns meant that businesses across the world were forced to adapt to a remote set-up almost overnight, regardless of their size and scale. But they also created a significant opportunity for companies to reassess outdated and impractical working habits and bring in new long-term flexible strategies that are better for them, their employees and the planet. What’s more, thanks to global flexspace provided by IWG brands including Regus, Spaces and Signature, professionals have access to an unrivalled choice of locations to work from both in Singapore and across the world.
Hybrid work – which enables millions of employees to divide their time between a company HQ, home and a local flexible workspace – is now the default way of operating for countless numbers of people. It’s what employees want because it allows them to achieve a better work-life balance and to have more autonomy. In fact, a recent IWG survey found that 72% of staff would prefer a hybrid way of working, even if going into a dedicated company office five days a week meant earning more money. On top of this, 88% of employees cite hybrid working as a leading benefit they’d expect when looking for a new job.
What other benefits does hybrid working offer? As many countries face a grave cost-of-living crisis and the effects of a global recession, savvy businesses are wising up to the merits of running a lean operation with minimal overheads. By not having to pay for a large office with an expensive lease, as well as the energy bills that come with it, companies that have built flexspace into their corporate real-estate portfolio can reduce overheads and increase profit in a time of continued uncertainty. Research by Global Workplace Analytics found that companies, on average, can save up to SG$15,000 per year for every employee working in the hybrid model.
Allowing employees to work from whichever location is most convenient to them means hybrid working is also empowering, the effect of which boosts morale, productivity, wellbeing and staff retention. What’s more, by eliminating the expectation for entire teams to travel to a central head office every day of the working week, there is also less time wasted on commuting – something that also lowers a company’s collective carbon footprint and has a positive impact on the planet.
As IWG Founder and CEO Mark Dixon says: “Employees have realised that they have been wasting an hour or two commuting to an office that they don’t need to be in, whilst businesses have realised that a hybrid model means not only happier and more engaged employees, but also a significant saving for the bottom line.”
Whether a company is a big multinational or a modest SME, IWG operates five brands in Singapore (Regus, Spaces, HQ, Signature and No18) to cater to different types of flexspace needs. Regus, for example, delivers high-spec, traditional office environments, while Spaces embodies a more boutique coworking concept. By getting to know the different strengths and offerings of IWG’s flexspace brands, HR directors, CFOs and even ‘workplace experience managers’ can be sure to find a compelling workspace proposition to suit their unique requirements.
To make accessing workspace easier than ever, IWG has embarked on a major campaign to open more than 1,000 new sites near where employees live in residential, decentralised areas, in addition to having a widespread network of flexible workspaces across major towns and cities. IWG currently helps more than eight million people work the hybrid way, in more than 3,500 locations worldwide. Members have full access to IWG’s global network, encompassing additional unique brands, to give customers unparalleled choice in over 120 countries. Not only that, but everything can be managed on one dedicated IWG app, and memberships are available for one to 1,000+ people.
There is growing demand for hybrid working in Singapore. Here, IWG is actively seeking property partners of all types – even hotel owners and transport operators – to expand its network and bring more choice and access to the growing number of Singaporeans who are working in the hybrid way. So far, IWG has 22 locations in Singapore.
This year, the company has opened two new locations in the city-state: a 22,000sqft Regus centre at CapitaLand’s PLUS Building in Singapore’s central business district, and a 10,328sqft Regus centre at Hiap Hoe Building in the residential neighbourhood of Balestier. The latter, which marks IWG’s eighth decentralised location in Singapore, is part of the company’s plan to bring more workspace solutions closer to homes as people are seeking greater flexibility in how and where they work.
In 2022 alone, IWG has had about 60% more utilisation of its locations in city-fringe and heartland areas of Singapore, including at One North, Tampines, Jurong, Joo Chiat, Paya Lebar, Novena, Balestier and Changi Business Park. Moving forward, Singapore and the wider Asia-Pacific region will play a significant part in the company’s growth trajectory.
Hybrid working is opening up a world of opportunity, as people and businesses across the globe recognise the benefits it brings to people, profits and the planet. As Mark Dixon, Founder and CEO of IWG, puts it: “It gives us a future where companies can attract and retain the best talent, productivity and profits can be boosted, carbon emissions will fall and where people and communities will thrive as investment soars.”
Find out more about how IWG’s hybrid work solutions can support you and your business at iwgplc.com.