The pandemic impacted the coworking industry by eliminating the need for traditional offices. However, as lockdown restrictions begin to ease, many companies are transitioning to a hybrid work model in which some employees work in the office while others work from home.
With more than 70 per cent of Malaysian companies looking to implement a hybrid work structure as we embrace the new normal, the flexible nature of a coworking space complements the emerging popularity of this new work structure.
The accelerated adoption of the hybrid work structure enables coworking to reach its full potential as a flex-space solution provider.
Redefining the traditional work structure
As we move into a post-pandemic world, we find that there is no longer a standard way for people to work. Companies are finding ways to redefine their business model and keep employees engaged within the company to ensure its survival.
According to a report by Randstad, 69 per cent of Malaysian respondents surveyed stated their preference to continue working from home until the COVID-19 vaccine has been widely distributed.
However, as more of our population slowly got immunised, this figure changed. The Malaysian Employers Federation (MEF) conducted a survey titled “Implementation of Work From Home and Work From Office Practices In Response to the COVID-19 Pandemic”, which indicated that 61.7 per cent of companies preferred a hybrid work structure.
According to a survey by Robert Walters, up to 44 per cent of candidates would decline a new job role if no flexibility accompanies the role.
The onus is put on business owners to consider providing work flexibility wherever possible, as employees have now become accustomed to working from home and prefer flexibility over a fixed work structure.
This is becoming a deciding factor for many skilled employees, akin to medical benefits and corporate packages were in years passed. As the fight for quality talent continues to escalate in Malaysia, what we consider ‘corporate perks’ is evolving.
However, I understand some hesitation from corporations as this transition, from a rigid working structure to a more flexible one, is not a small task.
Also Read: How the rise of the hybrid workforce is reshaping the office space
This is where coworking spaces like WORQ are a bridge between a traditional office setting, providing that flexibility that your employees crave without needing to build the infrastructure yourself.
Overcoming the reluctance to adopt a hybrid or decentralised work structure
It is no longer up for debate that most of us are moving towards a decentralised working organisation, which essentially means employees who collaborate in a functional area or on a work team do not work together in the same office.
As a result of this, employees will be able to return to a less structured work environment without the use of closed offices.
This concept, however, is not new to companies; the conditions of the pandemic in its early days compelled every company to go through it.
Many companies still struggle with this, and when a team is spread out over the country, it can be extremely challenging to collaborate. It’s just a question of whether companies will follow through.
According to a survey by Savills Malaysia, 81 per cent of the respondents believe that an office is still necessary for a company to operate well, with 47 per cent saying that it was “always” important. In comparison, 34 per cent acknowledged that it was important “at least for the short term”.
In another way, many employees are still willing to go to work. They simply aren’t as willing to commute. It isn’t the office that most employees are against, but the inconveniences associated with static locations for work.
They understand the benefits of an office structure but now understand that alternatives, like coworking and flex space providers, work well.
These alternatives provide companies with the flexibility to move in quickly and the convenience of having access to multiple locations where employees can choose where they want to work without being tied down to traditional offices with long leases.
Employees realise the importance of working in an office environment that fosters productivity and allows them to interact with their coworkers.
According to the same survey, the most significant factor is the work environment, with more than half of the respondents (54 per cent) citing having colleagues and a culture that inspires them to achieve their best. An informal, inviting space contributes to an active environment that fosters communication, creativity, and teamwork.
The workplace used to be a place where you could feel like you were part of a community and get your daily dosage of social interaction, but this was taken away from when the pandemic broke out.
Employees would only see their coworkers once or, on rare occasions, or never at all, and even then, it was all done over a screen. A decentralised work structure needs to be enhanced to make the return to the workplace more attractive.
Also Read: Coworking space: why it’s the most startup thing ever
This brings us to the growing interest in coworking space as a real estate provider. As it is known today, coworking serves as a platform that can also be used in an economic sense to drive the decentralisation of employment.
According to research by McKinsey, companies that explore alternative workplace strategies could reduce their real estate costs by 30 per cent.
Coworking spaces, such as WORQ offer companies the flexibility to move in with a short turnaround time.
Reimagining the role of coworking spaces in today’s workforce
Instead of monolithic, bulky cubicles, there is a need to establish an environment that stimulates creative collaboration. WORQ aims to help companies navigate the hybrid work structure by assisting them in creating a conducive workplace without the risk and cost of any big-ticket solutions.
This will allow employees to work nearer to their homes due to the convenience of having access to multiple locations, thereby increasing employees’ willingness to stay with the company.
A hybrid work structure may contribute to beneficial company outcomes in the future, and innovative design solutions are essential in redefining the future approach to workspaces.
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