Navigating the Future of Flexible Workspaces: Insights from the OMS Standard

The commercial real estate landscape is undergoing significant changes as flexible workspaces gain traction. From coworking spaces to hybrid office models, companies are rethinking how they utilize space to adapt to evolving work patterns and employee needs. This article explores the future of flexible workspaces and how the principles of the "OMS Standard" — rooted in trust, collaboration, excellence, and client dedication — have guided strategic real estate decisions for over 15 years.

The Rise of Flexible Workspaces: A Growing Trend

The demand for flexible workspaces has been accelerating, driven by the rise of remote and hybrid work models. Recent data from the International Labour Organization (ILO) highlights that flexible working hours and reduced working times, initially introduced during the COVID-19 crisis, continue to benefit both employees and employers by enhancing productivity and work-life balance(International Labour Organization). Moreover, a survey by the American Psychological Association (APA) reveals that employees increasingly value flexibility and work-life balance over traditional benefits, such as salary(American Psychological Association). These trends suggest a fundamental shift in how companies and employees approach work environments, likely sustaining the demand for adaptable workspaces.

Benefits and Challenges of Flexible Workspaces

• Benefits: Flexible workspaces offer several advantages, including lower overhead costs, shorter lease commitments, and the ability to scale operations more dynamically. They provide diverse work environments that can enhance employee productivity and satisfaction. According to Jon Messenger, lead author of the ILO's report on work-life balance, "Giving workers more flexibility in how, where, and when they work can be positive both for them and for business, by improving productivity"(International Labour Organization).
• Challenges: Despite their benefits, flexible workspaces present certain challenges. These include the need for effective space management, technological integration, and maintaining company culture across decentralized environments. There are also concerns about data security in shared workspaces and ensuring that flexible arrangements do not lead to employee burnout or decreased engagement.

The OMS Standard: A Framework for Navigating Change

The "OMS Standard," developed by OMS Strategic Advisors, has been a guiding principle for the company for over 15 years. This approach emphasizes a comprehensive evaluation of a client’s entire business, not just their real estate needs. By understanding all business verticals, OMS has been able to provide tailored solutions that align with their client’s strategic objectives, whether those involve transitioning to flexible workspaces or optimizing existing real estate assets.

Long-Term Impact on the Real Estate Market

• Shaping Future Work Environments: The continued growth of flexible workspaces is expected to shape the future demand for office space, with an emphasis on adaptability and technological integration. Companies are likely to seek out spaces that offer flexibility in design and functionality to accommodate changing work patterns.
• Aligning with Market Trends: As the market for flexible workspaces expands, it is crucial for real estate investors and managers to stay informed about emerging trends and evolving tenant needs. The principles of the OMS Standard have enabled OMS Strategic Advisors to remain agile and responsive to these changes, providing a framework for effective decision-making and strategy development.

While flexible workspaces offer significant opportunities for both tenants and landlords, navigating this evolving landscape requires a thoughtful approach. The long-standing experience of OMS Strategic Advisors, guided by the OMS Standard, provides valuable insights into how businesses can adapt to these changes and capitalize on new opportunities in the commercial real estate market.