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. 

2. 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. 

3. 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. 

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