The Modern Workplace
The expectations of the modern workplace have changed dramatically over the years, with companies switching over from entire office spaces, to simply opting for a serviced office in a co-working space. It’s naïve to think that it’s only startups that are utilizing the co-working offices, you’d find MNCs renting these spaces for their regional offices, which is a much more cost-effective solution than renting out an entire office floor.
SMEs, with no need for store fronts, find themselves lowering their overhead with a shared space and increased networking opportunities with co-working spaces. Events held and organized for these offices also find a larger audience with up to 50 different companies working in the same building and in the same co-working networking & community.
Connectivity and accessibility that once used to be exclusive to those willing to spend more than they needed to for office space, are now available to smaller companies at a lower, and relative rate. Tenures are shorter with co-working spaces, which allow tenants to try out the space and assess if the neighbourhood and facilities are suitable for their work. The reduction is overhead costs has allowed sartups and smes unprecedented flexibility, which is truly a reflection on the coming future of work and business.
Co-Working – A Passing Fad?
According to JLL Asia-Pacific Research, 30% of corporate commercial property portfolios could be made up of flexible workspace 2030 – which is more than a nominal investment by property firms.
Flexible space has been growing at an average annual rate of 23% since 2010. After more than nine years of economic growth, employers are having a tough time finding talent and occupancy growth is slowing. With that, the flexible space/coworking sector has emerged as the primary growth driver within the office market.
How do you know if Co-Working is for you? What are trends in the co-working sector that could affect you as an SME or Startup?
Join the upcoming H.E.R® Malaysia Summit to learn from JLL’s own YY Lau and Arcc Spaces’ Nim Sivakumaran, who will share on the Kuala Lumpur (& South East Asian) Co-Working trend, the future of work – New era of leadership, learning and technology adoption, hiring & maintaining a millennial workforce, and building an eco-system and engaging with the community for workplace diversity and effective collaboration.
For more information: https://herentrepreneur.com/h-e-r-malaysia-summit-2019/
Use the promo code HERMY20 for 20% off any pass!
Keen to network with Startups, VCs, Entrepreneurs, and Investors?
Join us for the MOX Mixer after the H.E.R Malaysia Summit on 6 November at Sheraton Imperial KL!