In a recent survey, released by Randstad North America, 82% of workers said having the ability to work anywhere at any time allows them to maintain a healthy work/life balance and according to a new study, over half (64%) of employers now offer this work arrangement when recruiting new talent.
The emergence of this mobile workforce has been driven by technological change, globalization, and changes in employee expectations, according to IWG, the parent group of workspace companies including Regus and Spaces.
IWG’s study was based on the insights of over 18,000 business people across 96 companies. It found that every week 70% of employees are working at least 1 day a week somewhere other than the office. More than half (53%) work remotely for half of the week or more, while more than one in 10 (11%) people work outside of their company’s main office location five times a week.
Mark Dixon, founder and CEO of IWG, says, “People from Seattle to Singapore, London to Lagos no longer need to spend so much time in a particular office.”
Dixon adds, “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 IWG study also found that when businesses offered flexible working arrangements to their employees, the companies reaped the 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 maximization (83%)
For generations, the world has understood office-based work to involve a fixed location and a 9-to-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. According to the study, 80% of those surveyed agree that flexible working helps them retain top talent while 64% are now offering this to help them recruit.
Over half (58%) agreed that offering flexible working arrangements 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.
“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,” says Ian Hallett, IWG Group Managing Director and Global Head of Brands and Ventures.
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.
“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,” says Dixon, adding, “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.”
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.