Blogs

The JustCo Story

JustCo to me is more than an exciting job; it is a business that my husband Wan Sing KONG founded, and I am blessed to have been involved in his entrepreneurial journey right from the start. Prior to joining JustCo, I was working at Proctor & Gamble. In 2011, I moved from my much-loved American life and embarked on this journey with Wan Sing in Singapore.

Like many start-up stories, the initial years were marked by a lot of dreams and doubts, ups and downs, exciting and exhausting moments. During the early years of JustCo, we knew that the entrepreneurial journey would not be easy and we did face many obstacles – but the sense of fulfilment was something I would not find elsewhere. JustCo makes my life even fuller and more interesting every day.

My role in JustCo is to foster a community of talented and like-minded individuals and businesses where members can tap into to seek new connections and explore business opportunities through engagement activities like specially-curated professional and social events. Our members get to fully experience the benefits and network effects within JustCo’s large community of more than 17,000 members. This is not different from the atmosphere I fell in love with when at Columbia Business School, where students collaborated to complete projects, and tapped on each other’s expertise to learn and grow.

At JustCo, we offer people a range of options; they can work and socialise in either their own offices or hot-desks in the common area, either behind their computer screens or while using our shared facilities like ping-pong tables, foosball, arcade games, and swings (yes, like the ones you see in a park). They make friends, network with industry peers, attend thought-provoking events, gain advice from a host of senior business figures, or learn to pitch their business ideas. Every day, the community grows, expands and new connections are created; with kudos also to our Community Team – made up of passionate individuals who work closely with our members and understand the needs. I had never dreamed that I could have so much fun (and yes, sometime stress too) at work.

Thinking back, I am very grateful with how everything came together. I’ve not only been part of building a business, but more importantly, I get to nurture start-ups, support freelancers, and help many large organizations change the way they work and grow.

Over the years, JustCo has achieved great milestones, building the name to be recognised as one of Asia’s leading premium flexible workspace providers. We now have presence across Asia, including key cities like China, Singapore, Thailand, Indonesia, South Korea, Australia, Taiwan, and more to come.

I had never dreamed that I would be doing this with the most important person in my life, my husband, or ever thought that our personal and professional lives would be so intertwined. Every day I feel truly blessed, to continue to grow as a person and a leader in a business where there is so much passion, support and collaboration. I look forward to welcoming and meeting you in the JustCo community.

Lu Liu

Blogs

저스트코 스토리

저에게 저스트코는 흥미진진한 직장 이상의 의미가 담긴 곳입니다. 남편 공완싱이 기업가적 정신을 토대로 창업한 비즈니스로, 여정에 처음부터 함께 하는 축복을 누렸기 때문입니다. 저의 이전 직장은 P&G였고, 2011년에는 너무나 사랑했던 미국 생활을 접고 싱가포르에서 남편과 새로운 비즈니스 여정에 뛰어들게 되었습니다.

다른 여러 스타트업들이 그렇듯이 처음 년은 꿈과 의심, 오르막과 내리막길, 흥분과 탈진의 순간들로 점철됐습니다. 쉽지 않은 여정이 거라는 것을 알았고, 실제로 여러 장애물을 맞닥뜨렸지만, 성취감만은 다른 어느 곳에서도 찾을 없는 것이었습니다. 현재 저스트코와 함께하는 저의 삶은 매일매일이 이전보다 훨씬 완전하고, 흥미롭습니다.

저스트코에서 저의 역할은 뜻을 같이하는 재능 있는 개인과 기업들로 구성된 커뮤니티를 육성하여 멤버들이 선별된 전문 친목 행사 다양한 활동에 참여함으로써 유대관계와 비즈니스 기회를 모색할 있도록 하는 것입니다. 저스트코 멤버가 되면 17,000 여명의 대규모 커뮤니티 안에서 다양한 혜택과 네트워크 효과를 충분히 경험하게 됩니다. 이것은 저의 컬럼비아 경영대학원 재학 시절, 학생들이 프로젝트를 위해 협력하고 서로의 전문성을 활용해 배우고 성장해 나가던 매력적인 분위기와 다르지 않습니다.

저스트코는 다양한 선택의 장이 펼쳐지는 공간입니다. 개인 사무 공간이나 공용 공간의 핫데스크, 또는 사무공간이나 탁구대, 푸스볼, 게임기, 그네(, 놀이터에 가면 있는 그네가 맞습니다) 공동 시설을 이용하며 일도 하면서 다른 사람들과 교류도 나눌 있습니다. 친구를 사귀고, 업계 사람들과 네트워킹을 하고, 사고를 자극하는 행사에 참석하고, 중견 기업인으로부터 조언을 얻거나 사업 아이디어를 홍보하는 방법을 배우기도 합니다. 저스트코 커뮤니티는 매일 성장과 확장을 경험하고 있으며, 새로운 교류들이 일어나고 있습니다. 이러한 분위기를 이끄는 있어서 멤버들과 긴밀히 협조하고 니즈를 파악하는 열정적인 개인들로 구성된 커뮤니티 팀의 공로를 빼놓을 수가 없습니다. 저는 직장이 이렇게 즐거운 곳이 되리라고는 상상해본 적이 없습니다(물론, 저도 가끔은 스트레스를 받습니다).

돌이켜 생각할 , 과거의 모든 일들을 통해 지금의 모습을 이루게 것에 매우 감사하게 생각하고 있습니다. 저는 지금까지 비즈니스를 구축하는 일조를 해왔을 뿐만 아니라, 더욱 중요하게는 스타트업을 육성하고, 프리랜서를 지원하며, 여러 대기업이 일하고 성장하는 방식을 변화시키는 일들을 하게 되었습니다.

그동안 저스트코는 대단한 성공 가도를 달렸습니다. 지속적인 사세확장을 통해 중국, 싱가포르, 태국, 인도네시아, 한국, 호주, 대만 아시아 주요 국가의 도시들로 진출하면서 아시아 프리미엄 공유오피스 대표주자 하나가 되었습니다.

저는 인생에 있어 가장 중요한 사람인 남편과 일을 하게 되리라고는 상상도 못했습니다. 마찬가지로, 개인적인 삶과 직장 생활이 이렇게 밀접해지리라고도 생각지 못했습니다. 그렇기 때문에 개인으로서, 또한 열정과 지원, 그리고 협업 문화가 자리잡은 기업의 리더로서 계속해서 성장해 나가고 있다는 사실에 매우 축복을 받았다고 생각합니다. 저는 여러분을 이러한 저스트코 커뮤니티에서 만나게 것을 기대합니다.

 

Lu Liu

Blogs

3 flexible workplace solutions for growing firms in Korea

The chatter around the future of work is not new. Following the pandemic-accelerated shift, employees today are appreciating the merits of flexible work arrangements, with 88% in Asia-Pacific, including Korea, favouring the office-remote hybrid model. Nurturing innovation, collaboration and productivity, this new narrative of work has also taught businesses valuable lessons, from fine-tuning business continuity plans to exploring more long-term cost-effective workspace solutions, all of which finds flexibility at its core 

Taking a leaf out of this book, new and thriving businesses today have better leverage when addressing an expanding workforce or changes in workspace requirements, while ensuring organisational efficiency. So what are the options available to them? Here’s our quick guide. 

 

  1. Coworking Or Shared Office Spaces

Providing the means for productive work is critical to any growing firm. Choosing to move into a new office to accommodate changes in workspace needs or a larger workforce may seem a plausible solution, but this begs a question: how can a firm cater to a rapid increase in hires? Upsizing without considering potential future changes may prove the strategy ineffective.Coworking, on the other hand, offers a more systematic solution. By hiring hot desks whenever required, businesses ensure a proper and professional working environment for new employees, especially when work from home is not always possible. This allows growing businesses to rightsize their office space – only paying for space as and when they need it. Riding on the increasing demand for Work-from-Anywhere, this solution also provides current employees with more workplace flexibility. 

For Whom Is This Well-Suited? 

New startups that want to avoid the costs of leasing traditional offices will find hotdesking at coworking spaces more cost-effective, particularly if their headquarters are located within the Central Business District. Leaving the operational aspects to the coworking provider, they can focus on business growth and gradually occupy more space to cater to expanding teams. Similarly, small to medium-sized companies with traditional office footing can consider these shared office spaces to better place business units, following a suitable core-and-flex model. 

 

  1. Private Studios & Serviced Offices

If privacy is paramount, businesses will find a winning solution with office space rental. Located within coworking environments, these spaces, otherwise called private studios, let employees enjoy the same communal atmosphere with other hot deskers at breakout areas and the common pantry, while retaining the privacy they need when they work. Taking this a notch further are serviced offices. With all-in-one facility management and office necessities covered, these private spaces allow businesses to lower their capital and operational expenditures instead of forking out additional funds to refurbish a newly-leased office. 

For Whom Is This Well-Suited?By providing a space to work collaboratively without distractions, that too at a level of privacy required, the serviced office is a cost-effective solution for firms that need to house growing teams remotely. Meetings with internal and external stakeholders can also be conveniently held in these spaces, on top of the meeting rooms available on a pay-per-use basis. Companies or startups that may not need a large office but cannot compromise on privacy can opt for office space rentals like the private studios in the coworking environments. 

  1. Enterprise Solutions

Retaining your brand identity is also possible even as you expand office footprint with flexible workspace solutions. Take JustCo Korea’s enterprise solutions, for instance. Firms   that choose for this solution can have the flexibility to opt for a private entrance for teams and visitors, dedicated meeting rooms and phone booths and even install company branding signage, among many features. If an entire floor dedicated to your employees is what you prefer, the bespoke solution is perfect – there’s a private reception, dedicated pantry and server room on top of the amenities offered with the enterprise suite. 

For Whom Is This Well-Suited? 

The enterprise suite is perfect for medium-sized firms like matured startups as it fosters a strong presence in a collaborative environment like a coworking space, creating greater brand awareness and driving growth. Larger companies or those that anticipate massive expansion can go straight for the bespoke solutions for a more all-rounded strategy. Both allow firms to rightsize cost-effectively – by leaving all operational responsibilities to JustCo, more resources can be channeled to growing their business. 

The future of work will manifest to great extents in 2021 and the years to come. The only way forward is to continue making work conducive to employees in Korea, in ways that ensure business growth for corporations big or small. 

Keen to explore JustCo?  Click here to find out more on latest promotion.

Blogs

Top 5 workspace trends for 2021

Today, we see a seismic shift in the world of work. While remote working became a temporary norm for many organisations during the pandemic, plenty have recognised the merits of this enforced flexibility. 

Now, the choice is to voluntarily accept the change. 

At the forefront of this wave, JustCo has enabled corporations to scale with private suites and coworking spaces. In Korea, increasing number of queries for flexible solutions like hot desking indicate that enterprises want to draw on the benefits of contemporary workspaces by adopting a more cost-effective real estate solution – the ‘core-and-flex’ model. On top of reducing operational expenditures, it fosters a sense of independence and autonomy among employees who have the freedom to choose where they wish to work. Over at Tokyo, for instance, hot desks at smaller coworking spaces have become popular where employees work without the supervision of a manager. 

While employees have shown preferences for greater flexibility, it can only be achieved when employers accept workplace changes. When set against the backdrop of impending uncertainties, this discourse becomes more pertinent, which renders the need for enterprises to strategise for cost-effectiveness. We see how this plays out for the near future as we study in detail the top workspace trends to anticipate in 2021. 

 

  1. Increasing Demand For Work-From-Anywhere 

Remote working will last well beyond the ongoing pandemic, a sentiment expressed by 94% of corporate real estate professionals in a Corenet Global Survey. This indicates that work will continue to take place away from the office, albeit beyond the home – a reality businesses will operate in not just next year, but those to come. 

Corporations can meet the demand for Work-from-Anywhere with ‘Flex’ workspaces beyond co-sharing office spaces, such as SWITCH, a new space-as-a-service solution that makes working anywhere possible. Offering on-demand spaces for focus work, these booths located across neighbourhood shopping malls and commercial buildings are significant to employees who choose not to or are unable to work from home. 

 

  1. Shrinking Footprint Of ‘Core’, More Demand For ‘Flex’

While Work-from-Anywhere delivers an excellent solution for employees preferring more flexibility, it also complements business strategies that put more emphasis on scalability, owing to increased uncertainties like those the pandemic revealed. Take Fujitsu as an example. The Japanese IT will reduce its office space by 50% by 2023with aims to adopt flexible workspaces to support remote work. We can expect more to do the same. 

What makes this better? A combination of different ‘Flex’ spaces. From satellite offices to meeting rooms on-demand, the list is endless. JustCo’s Australian partners leverage the flexibility JustCo’s plans provide – meeting rooms, event spaces and enterprise suites are leased periodically on a casual basis to bring teams together for daily work, meetings, collaborations and team bonding. 

By rightsizing, corporations will not need additional cash flow to accommodate spatial requirements in traditional offices even as teams grow, so more resources can be channelled towards business productivity. This is critical when operating in volatile economic conditions. 

 

  1. ‘Core’ Will Serve More As A Space For Relationship-Building 

The headquarters, which these downsized ‘core’ offices refer to, will not just be a workspace but more so an avenue for relationship-building. Its role is to create meaningful experiences for employees to drive innovation, collaboration and stronger connections among co-workers, resulting in a happier and more productive workforce. Ensuring a balance is key – remote workers can continue to enjoy the flexibility on a regular basis, while strengthening solidarity as a company when they drop by from time to time. 

 

  1. More Space Required For Social Distancing 

Even as the pandemic gradually phases out, social distancing measures will remain as a precaution – businesses must abide by the laws without allowing them to come in the way of work. Back in Australia, more businesses are taking up larger spaces in our coworking offices to accommodate the same number of employees so they can maintain a safe distance among themselves. These flexible offices will continue to serve as leverage even to those organisations that have yet to explore downsizing their traditional offices but need additional spaces for their employees who cannot work at home. 

 

  1. Increasing Prevalence Of Tech-Infused Spaces 

As the smart nation narrative expands across the globe, workspaces will increasingly adopt effective technologies to improve their functionality. For instance, JustCo’s first smart centre at The Centrepoint offer card-free access with facial recognition turnstiles that also ensure members are wearing face masks upon entry, enhancing both security and safety of the workspace. Complementing this is SixSense, a spatial analytics technology by REInvent, Asia’s first PropTech Innovation Studio, that monitors real-time occupancy levels and social distancing. The detailed analysis across per square foot not only provides JustCo insights into spatial behaviours for improved office design planning but also useful information for enterprises that need to make better decisions on rightsizing. SWITCH Enterprise portal allows employers to study employees’ use of the space by tracking their choice of location, clock-in time, duration of stay and other relevant data, and then scale appropriately for more productive outcomes. 

From the expanding choices of workspaces to the evolving functions of today’s traditional offices and the role technology plays in creating more effective work environments, the trends shine an unforgiving light on the future of work – it is no longer ‘future’ as we are living it at present. The workplace is revolutionising rapidly as are employees’ needs and wants- adapting for a change is the only way forward. Click here to find out more on latest promotion. 

Blogs

Why companies choose coworking over traditional offices in the new normal?

While the work landscape adapts to the recent pandemic, companies are recognising the irks of traditional office spaces, in terms of costs, flexibility and accessibility. As the country gradually achieves a level of normalcy against a new economic narrative, how can companies arm themselves better to brave potential uncertainties in the near future? 

What they need is a fresh perspective of work, one that is strategically long-term and smarter 

By that, we mean coworking. In what ways is it a better leverage than traditional office spaces?  

1. Cost-effective

What traditional lease agreements do not provide companies is the ability to cut costs. These not only include those of rent, but also the resources needed to keep the space operationally-ready for employees. We are referring to utilities, furniture, equipment, pantryt essentials and all the necessities for a full-fledged office.  

A coworking space like JustCo’s absorbs your operational costs at a favourable and budget-matching monthly fee. Your employees gain access to a host of office essentials, from a fully-stocked pantry through to ergonomically-friendly hot desks and well-furnished meeting rooms. Hot desking or booking a private suite is surely an ideal solution for growing startups, independent entrepreneurs and freelancers. However, enterprises can also benefit from a ‘core and flex’ strategy, which comprises a smaller long-term space and a flexible coworking office. This allows for easy scaling without having to incur more costs which traditional office leases often entail.  

JustCo Korea
JustCo Korea

2. Promises flexibility in scaling

On the note of scaling, coworking hits the spot. Whether you need to upgrade to a private studio or want to downsize your plan to a smaller suite or just a few hot desks, you can do so at no additional cost. With multiple plans to suit various needs at different phases of your business, you can rest assured that you won’t have to pay extra for unused space nor spend an enormous sum expanding your workstation as you otherwise would in a fit-out project. 

3. Offers convenience

Any coworking plan you choose lets your employees into not just one but a total of 5 locations all over Korea. Such convenience allows employees flexibility in choosing where they can work – perhaps nearer to a client’s office, a kid’s school or one’s home. They can hop into any centre they find suitable, and have access to all the amenities they need at their fingertips.  

JustCo Korea
JustCo Korea

4. Provides a one-stop office solution 

What amenities you may ask? We spoke of the full-fledged office earlier – simply put, the coworking space is designed for productive work, at a more conducive price than the traditional lease. At a fraction of the cost, you get a well-functioning office with high-speed Wi-Fi connectivity, IT support, printing facilities, mail handling services, office supplies, cleaning and more. Not forgetting, there’s the shared pantry fully stocked with tea and coffee for a well-deserved break. Breakout and entertainment areas also provide the respite your employees need from a busy workday, which can turn into opportunities of networking and collaboration with other fellow members.   

5. Surprises with members-only perks 

On top of what is offered in our coworking spaces across Seoulmembers also enjoy exclusive perks from a range of business partners. These include discounted plans from Amazon Web Services, Modusign and Shiftee as well as lifestyle perks courtesy of brands like Lenovo and KMI. That means you not only get to enjoy a cost-effective, fully-fitted office space but also additional leverage to grow your business in a way you never imagined before. 

JustCo Korea

It goes without saying that coworking is the future of work  if you’re reevaluating your office space requirements, get in touch with our flexible workspace specialists to learn how we can help to streamline your business operations. 

Blogs

Riot Games Southeast Asia’s Publishing Team moves into JustCo at The Centrepoint

A fast paced, challenging yet exciting work environment is definitely no stranger to Riot Games, who is well-known for developing and publishing popular video games such as League of Legends. Day in day out, Riot continues to build on its philosophy of being a player-focused company by bringing excellent gaming experiences to its fans, launching new exciting titlesengaging players through esports tournaments, community activities and more.  

2020 has been a big year for Riot, with new game releases such as digital collectible card game Legends of Runeterratactical 5v5 shooter title VALORANT and most recently, the Regional Open Beta of League of Legends: Wild Rift – a mobile MOBA that’s now available in Singapore on Android and iOS. 

In November 2019, the Riot Games Southeast Asia Publishing team started out with an office space in Singapore at JustCo at 5One CentralIn less than a year, the team very quickly outgrew their space and needed a larger office – that was when they decided to move into JustCo’s first smart office at The Centrepoint. As Riot takes on an aggressive growth trajectory in Southeast Asia (SEA), the leader in the video games and esports industry recognises the importance of a workspace solution that offers maximum flexibility. 

We are expanding our presence in Southeast Asia rapidly, and JustCo’s one-stop workspace solution has provided us with great convenience and flexibility to house our growing team while we work on numerous new game launches. Leaving the entire fit-out and workspace configuration in the good hands of JustCo’s professional team allows us to channel our resources to better focus on our publishing operations, ” says Kaialani Ng, Office Manager of Riot Games Southeast Asia.  

Riot was able to leverage the flexibility of right-sizing their teams according to their business growth as and when needed, allowing them to adapt quickly to the dynamic economic environment with minimal disruption to operationsCost savings and mitigating real estate risks are just some of the many benefits of choosing a shared workspace like JustCo 

With its new office at JustCo at The Centrepoint, Riot is enjoying the new smart workspace technology features such as facial recognition turnstiles, card-free access via the JustCo App and an in-house café, Ratio, which uses a coffee-making robotic arm. Riot’s staff are also able to access and participate in regular professional or lifestyle events, such as webinars, workshops or yoga classes – to seek new connections, network and explore collaboration opportunities with other likeminded businesses and individuals. 

JustCo at The Centrepoint was thoughtfully designed to make work-life smarter and more productive for membersAs part of the opening celebrationJustCo is offering an exclusive 30% off private suites*! Click here to find out more. 

Blogs

Is Work From Hotel a Coworking Alternative?

The global virus outbreak has halted international travel, affecting not just the aviation sector but the hospitality industry too. Despite the struggle, some of the top-class brands in Singapore have suited up to adapt, tapping on the accelerated future of work that has overcome the labour market. That is through the other ‘WFH’ – work from hotel.  Work from hotel is in itself an innovative solution, a useful business strategy for the current work climate.  From hotel lounges to private suites, freelancers, office employees and the like have explored work from hotel as a work staycation – getting their tasks done in the midst of luxury their homes could never afford. For working adults, it serves as a breather from the work from home hustle – a change in environment accommodates the challenges experienced with the rushed shift in the workplace due to the pandemic.  Considering the hotel amenities one can avail with a work from hotel package, it sure is an alternative to working from home… as long as a temporary escape is all you need.  But if your goal is to scale faster, would this solution really work for you?  We reckon – for a long-term working solution, coworking will be a better option. Why’s that?  A Cost-Effective Monthly Fee Lets You In More Than Just The Space  With just a JustDesk Unlimited plan on JustCo, you not only get to use a co-sharing office space but also gain access to a suite of business amenities, such as pay-per-use meeting rooms, printing facilities, mail handling and IT support anytime you need them. There’s also a shared pantry with free flow of snacks, water, tea and coffee – all within easy reach. A premium business address is yours to own too, perfect for professional freelancers and startups working independently.  A simple upgrade will give you 24/7 unlimited access to the coworking space, a dedicated desk or a fully-furnished private office.  Further – all coworking plans let you hop into any of our 5 centres in Korea, as well as those within our global network.  What’s in it for you?  With a monthly fee, you get a whole package designed towards providing you with the best work experience you could ever ask for. Whether you need it only once a month or a few days each week, the coworking space will always be available for you. Moreover, you don’t have to go back to the same co-sharing office as you can step into another at our centres elsewhere as and when it’s convenient. Simply put, you’re not bound to a location, as opposed to work from hotel packages that are tied to the premises.  To top it off, once you’ve booked yourself a private suite, you won’t have to vacate for another member to use. You have sole access – even leaving your equipment behind for the day is possible as our round-the-clock security will ensure everything is kept safe.  A Coworking Space Is Designed For Personal And Business Growth Further to the amenities provided, members enjoy exclusive perks as part of the cost-effective plans. These include participation in business events and networking sessions across industries where members can connect for collaboration opportunities. Moreover, members can take advantage of discounted services from various trusted providers.   Here’s a quick summary of our perks:  F&B 

  • Cup And Cut – 10% off on all coffee  
  • Snow Fox – 10% off at Seolleung station and Gwanghwamun  

Business 

  • Modusign – 6 months free or 20% off 
  • Career and Scout  2 hours free career and HR consulting  
  • Lenovo – Special discount price only for JustCo members  

Lifestyle 

  • Lucid Island – 6 months free membership to mental fitness application  
  • GNBON Food – 20 % additional discount for JustCo members  
  • KMI – Special price on health check service 

What’s in it for you?  With a coworking space, you’re not just signing up for an alternative workplace but a full-proof solution that considers long-term requirements. It is centred upon bringing you the growth you need as an individual practitioner or as a business.  A Positive Work Environment Is Always Available  For those working from home or hotel, recreating the office environment for productive work can be challenging. The coworking space is designed to offer just that. Amping up the surroundings, the entertainment and game areas, and common pantry bring a sense of community to the workplace.  What’s in it for you?  If you miss the social interactions back in the office, the coworking space covers that for you. This is especially important for boosting happiness at work, a key stress reliever. The interactive space also serves as a good demarcation between work and your home, the latter essentially being your place to relax. If you want to stay away from distractions at home, prevent the blurring between work and play, and avoid the walls closing in on you – possible occurrences even in a hotel suite, the coworking space and its community-centred design give you the seamless divide you need.  Whether you are working from a hotel or in a coworking space, a solution is only right for you as long as it addresses your needs. Making that decision requires deliberation – take the time to decide.   

Blogs

Why big corporations in Singapore move to coworking spaces

The Global Coworking Growth Study reported that the number of coworking centres worldwide is expected to surpass 40,000 by 2024. At present, the Asia-Pacific region has the most shared workspaces in the world, with the highest average capacity of 114 people. While it is a promising statistic for coworking operators, what is more noteworthy is the changing profile of tenants. Startups, entrepreneurs and freelancers aside, we are now seeing a growing pool of enterprises jumping on the bandwagon. JustCo Singapore noted a significant increase in  enquiries for flexible workspace solutions by enterprises, who now make more than 50% of our customer base.

Why that shift?

It’s A More Cost-Effective Real Estate Solution

The ongoing pandemic unveiled new real estate challenges – the need for more workspaces to house office employees amid social distancing measures. Split team arrangements and the equivalent forced many to work at home from time to time. Employees are also gradually preferring to work elsewhere than in the office (more on this later).

What do all these mean for enterprises with large but emptier offices? There will be wasted space.

If this makes up one end of the spectrum, the other is insufficient space for growing teams – one of the biggest hurdles large organisations always face.

What both scenarios entail is a cost – enterprises with such traditional office spaces are tied down to long-term leases with additional fees when they downsize or upgrade, alongside substantial fit-out spend This prevents them from scaling when they need to.

The solution: a flexible and cost-effective real estate plan – also known as a ‘core and flex’ model.

The ‘core and flex’ refers to an idea where enterprises occupy a long-term office space (‘core’) and a flexible workspace somewhere else (‘flex’). A smaller traditional office or a serviced suite as ‘headquarters’ can serve as the ‘core’. Dedicated hot desks at coworking spaces or private cabins as satellite offices in shared work areas complement the former where employees can jump on immediately to work – the ‘flex’. And there’s no need to worry about amenities – from meeting rooms and day-to-day office equipment to a curated range of professional services, coworking spaces have them all covered.

With this, enterprises save on overhead expenses of large office spaces and have more agility in managing the size of their real estate vis-a-vis human resource needs.

There’s Opportunity For Networking Even With Privacy

For employees or those in the management level, networking is key to keeping up with the pulse of the market. A traditional office setting does not allow for seamless connections with the like-minded but a coworking space can. A conversation in the common area like the pantry can lead to meaningful business partnerships you’d never imagine.

Hot desking employees would have ample opportunities for networking in the shared office space. Yet, privacy can be of concern – a dedicated cabin within the shared area will make the cut.

Regardless of the coworking plan, enterprises have access to regular networking sessions with industry practitioners, making it easier to enhance brand exposure and source potential leads.

You Uplift Employee Morale And Productivity

While Singaporeans have shown resilience adapting to work from home arrangements during the pandemic, it brought about troubles for some. This revealed a shift in local preferences, with 85% of Singaporeans longing for some form of flexibility in choosing where they would like to work.

Having the option to work where employees want keeps them happy – an essential aspect of employee morale, which translates to productivity. If the office is too busy, having a flexible and secured workspace somewhere in the city or neighbourhood gives them a peace of mind to tick off tasks from a to-do list. Perhaps a parent needs to pick a child from school at an odd hour – a hot desk in a nearby location saves a good deal of commuting time. And on days when the walls close in on you while working from home, having a ready work desk in a coworking space solves the problem. All these with 24/7 access and security, so you’d never need to think twice where else to get your work done!

The coworking environment also offers a creative and collaborative workspace for employees who can break away from groupthink they unconsciously subject themselves to in the office. They can enhance the quality of their work with out-of-the-box ideas, ultimately benefiting the organisations they serve.

Coworking spaces have evolved over the years. It is no longer just a workspace arrangement for small businesses but also a practical solution for enterprise-level organisations to better manage the office and workforce. If you’re looking for the future of work, this is it.

Blogs

Co-working Spaces Promote Creativity and Innovation

Today, there’s a high premium placed on creativity and innovation, and co-working spaces are proving to be the best enabling environment for these skills to flourish.

Co-working spaces are fostering ingenuity for an increasingly flexible intellectual labour force. As a feature published by the Harvard Business Review argues, co-working spaces are reminiscent of the Renaissance “bottega” of 15th-century Florence. These Florentine workshops were spaces where artists, engineers, and scientists met for inspiration and knowledge-sharing.

This Bottega Renaissance of sorts is best exemplified by the rise of flexible workspaces in Asia, which hinges on the burgeoning startup and freelance market. In fact, SCMP reports that the market for co-working spaces in the region has outpaced its global counterparts. Many of the 8,600 centres found across Asia-Pacific are targeted towards flexible office arrangements.

SPACE FOR CREATIVES

One key factor in the swell of flexible workspaces in the region is the growth of the creative industry and its demand for venues that cater to their needs. This has also meant that co-working spaces had to offer more than just available desks and tables.

CNN Travel reports how flexible spaces in Hong Kong now offer overnight and dynamic venues that can cater to a range of creative needs. This can include studios for podcast recording, green screen rooms, and even urban fitness centres. A key reason for this is due to the city being the centre of Asia’s social media scene. Hong Kong-based digital marketing experts Ayima detail how the region hosts social media giants Baidu, Facebook, and WeChat. This allows western countries greater access to invest in markets in Hong Kong, and vice versa. The percentage of social media penetration is expected to increase to 64% by 2023. This has made the city a hotbed for social media professionals—many of whom work freelance.

Similarly, more professionals and startups in Jakarta and Shanghai are paying a premium for spaces with better working environments that focus on building a community. Melbourne is now the city in Australia with the most co-working spaces as it’s at the centre of the country’s growing tech industry. One reason for this, as we put in our location guide to Melbourne, is that it is a city with a “vibrant mix of cultures and community” – with the co-working spaces being at the heart of many of these communities. Massive disruption in several key industries have also opened up opportunities for startups to flourish – most of which need more flexible arrangements.

The inherent flexibility of the creative and technology industries are shaping the spaces they operate in, which, in turn, are opening up new opportunities for growth across Asia.

INCUBATING INNOVATION

As mentioned above, startups are also a huge contributor for this shift to co-working spaces. The decisive push for governments in Asia to support startups has also catalysed the proliferation of spaces that cater to these innovation centres. This is why more companies like Singtel are also embracing the change, as it will help cultivate an innovating culture necessary for growth.

The JustCo Labs in Singapore, for one, helps both enablers and accelerators to reduce innovation risks and costs of setting up shop. It also offers exclusive programs to aid SMEs in reaching their target markets and find good hire opportunities. This model is currently being replicated across the region, as more economies rely on innovation.

GREATER POTENTIAL, GREATER VALUE

It’s not surprising that collaborative spaces are making a comeback at a time when great ideas command value. Co-working spaces encourage flexibility and the potential for interaction. Innovative layout and mindful design spark conversations and ideas. More than anything, they’re a space for more connections that can foster a strong network of entrepreneurs and business leaders.

This potential, as shown by more pro-active space providers, can be cultivated by building a community around the service provided. Some offer networking events, training programs, and social events so people can connect beyond eight-to-five meetings.

In fact, JustCo enables its members to work anywhere in its 40 centres around Asia-Pacific – providing greater flexibility and connections. The only Asian co-working space provider with a multi-city presence in the region, JustCo is also planning to extend its reach to Japan and other areas in the Asia Pacific this year.

Flexible work venues provide exactly what modern creatives and businesses need—space. This is especially true for the younger entrepreneurs coming into the workforce. As innovation leads today’s economic growth, the environment that nurtures it will expand further.

Keen to connect with a diverse community of 25,000 members? Contact us today to find out more!

 

Exclusively written for JustCo

By Jillian Davis

Blogs

5 surprising perks of hot-desking

Sheree McIntyre, Vice President and Head of JustCo Australia, highlights some of her favourite hot-desking perks and sheds light on the upside for businesses.

  1. People talk to each other

Co-working spaces can be really social environments as well as spaces to discover new business opportunities. But you can also have peace and quiet if you want it, with phone booths and free private breakout areas away from the hive of activity.

You can also bid adieu to the dark ages of awkward networking breakfasts. The JustCo App has a “Just Connect” function that allows members to browse profiles of potential partners, strike up conversations on the app to discuss ideas, and establish new business collaborations within JustCo’s community across Asia Pacific.

That’s a global index of contacts you’re getting without having to make small talk over the breakfast buffet or wait for tradeshows to meet.

  1. The views are dreamy

Enormously high rent does not always equal great views, but at a coworking space, some of the best views in the world are available to you without the big price tag. For example, Level 19 of JustCo at William St overlooks the Yarra and Melbourne city skyline (better than the view from the home garage or study!).

William-St-view-photo--400x800

A killer view of the Yarra and Melbourne city skyline from JustCo’s newly opened workspace at William St

  1. It’s good for your posture and your business

Hot desking spaces offer the benefit of not having to sit in the same tired seat day after day. Investments in ergonomic furniture by co-working companies pay off – and you can save on your physio bills! The inspiring art and décor are also great to absorb while you stretch your legs.

  1. Hot-desking isn’t a ‘singles-only’ activity

 Plenty of large and small companies are opting to hot desk rather than face paying increasing rent for a traditional cramped and isolated space. Being around a group of other talented and diverse individuals can mean curtailing the dreaded stagnation that can affect a small group in a lonely office.

Many people who can work from home opt for a hot desk instead in order to escape the distractions of the home, work from a more professional environment, meet new people, and to simply encourage creativity.

  1. It saves your business a ton of hassle

Contrary to popular belief, going down the hot-desk route isn’t only about cost savings. Time is money, and getting on board a co-working space will save you both. A co-working space such as JustCo takes the hassle out of every day office operations, allowing companies to really focus on their business objectives. From IT support to electricity and a reception to greet your guests – we’ve got you covered.

Interested to find out more? Book a tour with us today!

Sheree McIntyre is currently the Head of JustCo’s Australian division. Backed by Frasers and GIC, Singaporean-born JustCo is Asia Pacific’s leading co-workspace provider. Under Sheree’s leadership, JustCo is on a fast trajectory of growth in Australia, with five current locations and a goal to open five more Australian office spaces by Q2 2020. Sheree understands the importance of building offices with quality materials and close attention to detail, and believes firmly in JustCo’s sustainable business model and refusal to cut corners.