Economy

There is still a role for the office in a post Covid-19 world: TEC

Nandana Jame Mumbai | Updated on June 19, 2020 Published on June 19, 2020

Flags disruptions affecting creativity, causing loneliness

While the pandemic has led many to believe that remote working will become the norm, concerns about loneliness and disruption to creativity demonstrate that there is still a role for the office in a post Covid-19 world, according to The Executive Centre (TEC).

Hong Kong-based TEC is one of the largest premium flexible workspace operators in Asia.

While there are advantages to working from home, such as reduced commuting times, costs and pollution, there are also disadvantages for businesses and employees, a press release said on Friday. Companies want both the collaborative atmosphere the physical office provides, as well as the flexibility to support remote working for their employees, it added.

The demand for a flexible workspace is increasing amid uncertainty as companies look for cost management solutions, it found.

Some disadvantages of remote working include a disruption to creative thinking and the additional logistical steps required to ensure business can continue as usual, it said.

The situation has also made it difficult for companies to accurately predict headcount. “What we’re seeing now is a re-evaluation by organisations of their office strategy. The current market uncertainty is creating huge demand for the flexible workspace sector as companies try to manage costs and become less willing to commit to long-term leases,” said Paul Salnikow, founder and CEO of TEC, in a video produced in association with Business Reporter, while discussing what the future of work could look like.

Vast resources are wasted paying leases for real estate that businesses simply don’t need and flexible working spaces are a vital way of ensuring that no longer happens, it said.

“Every healthy business needs to consider what mix of traditional and flexible is right for its teams and their work,” said Todd Liipfert, Senior Development Director of TEC. “Sales teams that need to work both remotely and in different places will benefit from flexible access to broad networks. Creative teams that use the office as a place to spark ideas need more permanent and fixed spaces,” he added.

The workspace of the future must be agile and versatile to adapt to unprecedented and unpredictable challenges that are becoming more common in our society, it said.

Wherever and however businesses choose to move forward post Covid-19, there will be a workspace trend where professionals place higher value on their flexibility, it concluded.

Published on June 19, 2020

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