What Is A Flexible Workspace?

The flexible workspace goes by many names and has many different faces - shared office space, flexi-space, serviced space, or flexi-leases. Considered a revolution in the world of work, at its core is the notion that these are creative spaces designed to fit around the ever-evolving needs of you and your team, in a dynamic and collaborative way that prioritises personalisation, privacy, personality, hospitality and adaptability.

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At x+why, we understand the science of success when it comes to the modern workplace - as creatures of our environments that rely on an interplay of both nature and nurture, shaping the optimal ecosystem is an on-going process of co-collaboration. Uniquely, this is why the notion of purpose is the glue that underpins everything that we do - celebrating and uniting differences under the umbrella of using business as a force for good, we house a network of likeminded businesses that foster a culture centred around people and planet, not just profit.

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What is a flexible workspace?

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A fully serviced office with dedicated workspaces, amenities and furnishings that are available to companies and individuals looking for flexible lease terms, which can run from monthly memberships to short and longer-term arrangements.

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What is the difference between a flexible office space and the traditional office?

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Long gone are the days when companies would need to sign up to 10 year leases on property in advance. The fast paced environment of today demands constant change and adaptation, and flexible workspaces have arisen to accommodate.

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• Room To Manoeuvre
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Whereas traditional office spaces have fixed space allocation, commitments and contract-terms, flexispace can be a shared office space, such as a co-working environment, without assigned cubicles or desks. It provides everything you could need for a few hours a day, a few days a week, or a few weeks a month! The choice is up to you.

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• New Faces And Places
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As flexible office spaces such as x+why tend to have more than one location, founders and employees also have the option to work from a variety of alternate locations, alongside creatives from other companies. While more privacy is always an option, access to shared spaces encourages cross-industry collaboration, and many new companies and ideas have been birthed from the staircases, kitchens and lounge areas of our residences.

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• Lower Commitments
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The most common type of flexible workspace lease is a monthly rolling contract, making it as mobile as your mobile. This provides the perfect way for tenants to experience the environment live, before deciding on any longer-term commitments. Should you change your mind, flexible office spaces often require much shorter notice periods than traditional offices (around 1-3 months), and may come furnished or unfurnished depending on requirements.

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• Size Matters
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Flexible office spaces also offer you the option to expand and contract in size, depending on your changing needs. Traditional offices can’t always accommodate the needs of businesses throughout every stage of their development, for example when companies find they need to take up additional office space during particularly busy periods. Whether you’re an established institution or just starting out, flexible office spaces have custom options available to suit everyone, at various points in time.

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• Economical Economics
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Reduced overheads are one of the most commonly cited advantages of flexible office spaces, as on the whole, they tend to work out cheaper than their traditionally rigid counterparts. The fixed monthly fee tends to be all-inclusive, with the option to include additional extras such as parking, storage space or other utilities. This makes financial planning easier, meaning that you can manage your budget more accurately.

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• Superior Service
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Having the option to rent serviced or managed flexible offices means founders need not worry about hiring new staff members to man reception areas or do admin work, allowing you to focus your time, money and energy where it really matters - on your business.

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Are flexi-spaces co-working spaces?

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Technically speaking, a co-working space is a type of flexible workspace. The first co-working space opened as early as 2005, however as described above, there are many different types and sub-divisions of flexible workspace options available, which may be provided by co-working spaces themselves.

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The umbrella term of the ‘flexible workspace’ encompasses a range of office solutions provided by co-working spaces, private offices, on-demand meeting rooms and executive suites. Different providers offer different mixes of solutions, including:

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• Co-working Areas
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Some flexi-space providers offer communal areas for people to congregate, whereas some don’t. Co-working often gets the lions share of attention when it comes to talking about flexi-spaces, and have gained significant attention over the past decade for their forward-thinking approach and community culture.

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• Hot Desking
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Hot desks are unassigned desk space, allocated on a daily availability basis, they’re shared and people can work from wherever they choose. While some people prefer to have an area of their own, others love the freedom not to have to sit at the same desk all day. They offer come at a reduced fee, and are a particularly popular option for freelancers.

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• Dedicated Desks
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Some co-working and flexi-space providers offer dedicated desks, where members can lease a seated area for a certain length of time. This option offers professionals a certain level of consistency, and the opportunity to leave personal items at the office (such as monitors or notebooks).

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• Private Flexible Offices
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Flexi-space providers are increasingly offering fully furnished office suites for individuals and teams, on a flexible contract. For those that desire a little more privacy, companies have the option to carve out dedicated floors or spaces within the environment, including private work areas and meeting rooms, and in some settings may still also be able to enjoy the amenities of a shared co-working space, such as at our flagship building in Whitechapel, East London.

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• On-demand Meeting And Conference Rooms
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Members of flexible workspaces may have the option to book on-demand meeting and conference rooms, giving them access to these facilities as and when they need. Some flexible space providers include such access in their monthly fee, and may also open up access to non-members requiring them on an ad hoc basis.

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Why choose a flexible workspace?

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With the advent of the internet and increasing interconnectivity under globalisation, the working environment is rapidly becoming ever more complex. This means that the speed of consequences of both small and large changes are often felt more significantly, and companies are being asked to be more adaptable than ever.

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According to Snowden and Boone, the realm of the ‘unknown unknowns’ is the domain to which contemporary business has shifted. In fact, statistics show that ‘Black Swan’ events such as COVID-19 occur once around every 10 years, with that interval becoming increasingly shorter. What is certain is that the businesses of today must increasingly be prepared to expect the unexpected, and remaining flexible is a key tenet of such resilience.

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Honing in on quality over quantity, in most flexible workspace arrangements, all the details are often already taken care of, meaning reduced occupancy costs yet improved employee experience - with leading-edge facilities, amenities, resources, and design in convenient and desirable locations. In a world where we are more digitally connected than ever, yet severely lacking in real-life community, co-working spaces are a hub of on and offline interconnectivity and opportunity.

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As we head towards a more remote mode of operation, having the option to separate work and home life in a convenient and affordable manner, as well as having a guaranteed space for personal and professional meetings, is an increasingly attractive and necessary offering. Flexi-spaces are rarely just desks for hire, they usually feature a wide range of on-demand meeting rooms, private lounges, technology, larger conference areas and event spaces to help your business grow.

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Such spaces have historically been favoured predominantly by freelancers and startups, but their benefits are now fuelling increasing demand amongst corporate clients. Whether it’s as a long-term lease or a temporary solution while they renovate and relocate, some companies are using flexible workspaces as satellite offices to fuel innovation or as a secondary HQ.

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The variety of features offered by the flexible workspace ecosystem recognises that there is no ‘one size fits all’ solution to better work. The future is custom and personalised, and the increasing popularity of flexible work in all its forms is testimony to its success when it comes to helping individuals, small and large enterprises or corporate clients alike, both survive and thrive in today’s environment.

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