The trend of companies offering flexible working arrangements to retain their top talent, far from a pandemic-era fad, is now a permanent fixture of the office property market, according to International Workplace Group (IWG).
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In addition, global economic uncertainty was shaping office-space demand, driving companies away from being tied to traditional office leases, said Marc Descrozaille, CEO for Middle East, Africa and Asia-Pacific with the Switzerland-headquartered flex-desk service provider.
Descrozaille credited these trends with boosting system-wide revenue for the group by 2 per cent to a record US$4.2 billion in 2024. Operating profit grew 185 per cent to US$510 million.
IWG, which operates brands such as Regus, Signature and Spaces, has more than 4,000 locations across 120 countries, and expanded by a record 899 last year, with 115 of them in Asia-Pacific. With 21 centres in Hong Kong, the group is the city’s largest flexible office provider.
“Offices aren’t going anywhere, but their role is changing,” Descrozaille said. “Headquarters, for example, are becoming more like creative hubs – places designed specifically for collaboration and connection, with purpose-built spaces and activities.”
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“Hybrid work is definitely here to stay and is the future. Flexibility isn’t just a perk any more, it’s essential. Companies will increasingly focus on giving their teams the power to choose where and how they work to keep productivity high.”