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We are struck by the way organizations are pushing the boundaries of how their workplace can work in favor of business growth. Real estate is transforming from a fixed asset to liquid space.
A case in point is managed office spaces.
The appetite for workplace flexibility and agility is on the rise. More and more forward-thinking organizations are seeking to outsource real-estate services to free up their in-house teams from the nuts and bolts of facility management and allow them to focus on strategic value.
A Frost & Sullivan survey predicts that the global outsourced market in facility management services will touch the mark of $1 trillion by 2025, with 35% of the global revenue generated from bundled and integrated services.
All of this means that managed office spaces are emerging as a significant driver in shaping workplace strategy that perfectly meets the accommodation needs of modern businesses.
This article will explore managed office space as a potent workplace solution that presents businesses with an unprecedented opportunity for growth.
A managed office is a custom workspace solution outsourced to a third-party service provider responsible for everything from procuring the perfect property to the office design, from infrastructure and operations to maintenance.
Organizations can rent out a single office or even an entire floor with managed office services to create a workspace explicitly designed around their needs.
Meanwhile, they can focus on driving their core business agendas and making sure that their business is lean with only one point of accountability and control.
Owing to their “apparent” commonalities, it’s no surprise that businesses often get confused between managed office space and serviced office space. So we’ve decided to clear the air for once.
For these emerging workplace concepts, spaces are delivered as workspace-as-a-service, the rent is all-inclusive, the lease term is flexible, and there are no upfront costs.
But that’s where it ends.
While the private office space and shared amenities of serviced offices are branded by the service provider, managed office spaces give businesses their own space, which they can brand in terms of design, technology, and services provided.
Due to serviced offices’ lack of customization liberty, organizations have to settle for the experience the specific serviced office provides. And in doing so, businesses often fail to preserve their trademark culture and identity. Nonetheless, serviced offices deem a lucrative alternative to small businesses, which seldom have high budgets, looking for a simple, cost-effective, and flexible workplace solution and access to high-end amenities.
In contrast, when you are in a managed office space, you are in “your own” office space. You can see your brand’s name written everywhere—the design, the culture, the experience ally with your unique brand identity.
That also explains the longer move-in times for managed offices than the same-day-move-in time for serviced offices.
Lastly, managed offices confer better privacy and security than serviced offices as there are no sharing resources and spaces with other businesses.
That said, is there a particular type of business whose needs are best met with a managed office model?
In general, managed office space appeal to:
To be specific, managed office solutions are most sought after by IT companies, the entertainment industry, customer service companies, BPOs, KPOs, FinTech, EdTech, etc.
That brings us to why this game-changing workplace solution is gaining traction among businesses, including global giants like Google, Facebook, Microsoft, Adidas, etc.
Long-term lease agreements for traditional offices offer a little room for negotiation and deter businesses, especially those likely to experience growth.
Based on your business size and needs, Managed offices let you negotiate a lease term for your dream office for as short as one year.
With such a fluid environment, a business can have an agile workspace where it can expand or shrink rapidly at short notice without the overheads and complexities and still avail highly tailored services backed by experts.
Think about tailored furniture layouts, brand-specific colors, exclusive reception areas, and amenities that you do not have to share with other businesses. Feels nice?
Having a managed office means that you have complete control over nurturing your brand culture, creating employee-centric designs, choosing the infrastructural requirements, and offering a working ambiance that’s ideal for all your stakeholders.
All in all, a well etched-out brand persona that instills a sense of belongingness in your teams and stimulates their productivity.
The core business of managed office providers is to remove the burden of mundane office management tasks and the hassle and cost of fitting out the space, which allows you to focus on your core.
Their team of experts takes on all the operational aspects: maintenance, IT support, utilities, etc…round the clock.
Taking away operational burden leads to consistent quality services, simplification, complete visibility of operations, cost-efficiency, and enhanced productivity. And this frees up time to focus on the critical aspect of your business: running the business.
The importance of IT infrastructure security in protecting companies against cyber threats cannot be stressed enough. With advanced physical and virtual modes of protection, managed offices safeguard your IT technology assets. Furthermore, the private network and server rooms with dedicated firewalls help keep security threats at bay. In addition, many service providers offer their clients to bring their own internet service provider for maximum transparency and flexibility.
With a full-proof security strategy in place, businesses can mitigate the risks of data theft and other vulnerabilities which can sabotage the IT infrastructure, ruin the business’s reputation, and jeopardize its operations if not addressed.
Managed offices in prominent and premium commercial locations can do wonders for businesses that want to secure a strategic location for their long-term performance and growth.
It plays a pivotal role in helping organizations attract and retain the best industry talent, access new markets, bring new investors on board, and future-proof operations based on current trends.
Moreover, with clusters of other organizations working under the same roof, managed office occupiers have plenty of networking opportunities, which is one of the proven ways of expanding a business.
Many managed office space providers like The Address pay special attention to ensuring world-class amenities to enhance employees’ productivity and well-being.
These premium offices are nothing short of a dream with state-of-the-art facilities, cutting-edge technology, ergonomically designed workstations, a cafeteria, spacious lounge areas, natural light sources, biophilia, and luxurious recreational corners; in short, a place that no employees would want to leave.
When you see your business scaling, you might realize that a traditional office can antagonize all your efforts to grow or feel the need to have a space bespoke to your brand’s needs.
Managed office space will help drive growth with cost-effectiveness, flexible leases, reduced capital expenditure, and scalability.
Unsure if it’s an ideal solution for your organization? Get in touch with our experts at The Address now!
