The tech and creative industry is booming. In the last five years, the tech sector has experienced a surge in employment with 24,500 new jobs created in Central London, which holds huge implications for the capital’s office market. This development has led to an evolution in office management, as occupiers look to use their space in different ways to stimulate productivity, support staff wellbeing, and promote collaboration.
For the last 3 months we had the opportunity to meet with dozens of managers of flexible office spaces. Based on our experience, we truly believe that flexible offices are here to stay and grow.
Here are some of the key elements that tech and creative companies prioritize in their workspaces.
The volatile nature of the tech industry means that it can be difficult for companies to plan ahead, especially for start-ups and SMEs. As a result, occupiers will usually seek short-term leases with an early break clause. Space commitments can change drastically within a short space of time due to the rapid growth potential within the tech sector. Occupiers will seek spillover space where possible, in which they can expand into to avoid incurring the added cost of relocation.
Collaboration is at the heart of creative industries and central to their office culture. Particularly for start-ups and SMEs, collaboration between like-minded individuals and companies is a major driver for growth. As such, we have witnessed the emergence of coworking and incubator spaces such as TechHub, Bathtub 2 Boardroom, Edspace and Second Home.
As property costs soar, employers are increasingly prioritising quality over quantity when it comes to the workplace. Rather than taking on the cost of relocating to larger offices, tech and creative companies look to use their existing space more efficiently. By seeking ‘spaceless growth’, they focus on enhancing the quality of the space they already occupy.
The wellbeing of employees is crucial to attracting and retaining the best talent, and increasing productivity at work. The most progressive workplaces offer a variety of both formal and informal settings. For instance, a mix of collaborative and quiet spaces cater to diverse types of work and personalities. These employers also consider employee satisfaction outside the immediate work environment, and offer access to refreshments, exercise, and relaxation to stimulate both physical and mental wellbeing.
Many tech and creative companies use their workspace to communicate the values and culture of their brand. A unique space can both attract your next generation of employees and inspire your current ones. As offices increasingly serve as a focal point for face-to-face interaction between staff and clients, a distinctive workplace can help project a positive brand image.
The flexible, serviced offices provide all the benefits that the modern, dynamic companies are looking for. That’s why we believe they will grow and thrive even more in the near future.
Office Management 2.0
Change to the office requires change in the way we approach Office Management. OfficeR&D is a new platform that embraces these changes in office spaces. We help Managers of Flexible offices ‘Understand their space and make it better’. We put the floorplan in the centre of office management and enable managers to build information layers on top of it.
We connect the space with the zones and moods, current availability, profitability, and the members of the office. That way the manager can make the space:
- Flexible & Efficient
- Collaborative & Communicative
- Productive & Creative