Productivity

Get with the times: why brokers need flexible portfolios

Reading time:  2 Minutes

If you asked the average Joe what they would associate with a successful, well-known company, they would probably say the following: a healthy bank balance, a high headcount – and an impressive office. Property was once a mark of permanence and stability for companies and some office buildings have even become iconic in their own right: think the Bank of China Tower in Hong Kong or the Chrysler Building in Chicago.

However, this correlation is on it’s way out, as our ideas about workspaces change and adapt to modern working patterns. Around 1 in 12 companies globally are now opting for flexible, rented office spaces over buying, according to research by Cushman & Wakefield.

For commercial agents looking for the best options to fit their clients’ needs, it’s becoming ever more important to have a combined fixed/flexible portfolio. Here’s why.

Cutting unnecessary overheads

Globally, an average of 50% of the workforce works away from the office for 2.5 days or more per week, Regus research shows. In Mexico, the figure stands at over 64.4% of workers. That means a lot of empty desks for half the working week – and an empty desk isn’t cheap. Being able to offer flexible alternatives means that your clients will only be paying for the time when a space is actually in use.

Ability to flex up and down

The speed of business is more volatile than ever and, as businesses move away from fixed forecasts to rolling models, the pace of change has intensified. Flexible offices will allow your clients to expand or contract their space as their headcount grows or drops. Equally, with the rise of the gig economy, it’s more and more common for workers to be on fixed-term contracts, or only work certain days a week – meaning that traditional fixed properties can no longer accommodate business’ needs.

Facilitating a mobile workforce

Modern technology gives companies access to customers around the globe. However, it doesn’t guarantee strong relationships with them. In fact, Regus studies show that one of the key drivers of new business and retention rates is physical proximity. This means that it no longer makes sense for many of your clients to keep entire teams, such as Sales or Business Development, within the main office, when they could be using more flexible spaces located closer to major clients.