Three Ways Workplace Analytics Can Help Optimise Flex Spaces
Hybrid working has led to the rise of flex spaces, as businesses find they no longer need huge offices or fixed contracts. We know from our market research and conversations with the industry that many building owners are responding to this trend by tasking their facilities managers with transitioning their own spaces to a flex space model.
The flex space market is broad, with coworking at one end of the spectrum, and something more similar to the traditional commercial leasing model at the other, but with marginally more flexible lease terms.
Regardless of where they’re pitching themselves, building operators are looking to compete in what is still a relatively new world, with potential tenants looking for the immaculate interiors, high‑end amenities and tech‑enabled spaces that come as standard in coworking.
For a flex space to be competitive at either end of the spectrum, a degree of “hotelisation” is needed, which is a shift to seeing tenants as guests, prioritising the at‑work experience and providing amenities above and beyond what you might find in a traditional serviced office. But this can mean considerable investment. Workplace analytics are therefore essential to make this transition informed, optimise revenue and allow for continuous improvement.
Here’s how FMs can use workplace analytics to…
1. Make The Most Of The Space
The initial design of a more coworking style proposition may be based on educated guesswork; this floor needs a kitchen, so let’s put it somewhere central, members may appreciate a phone booth here or a meeting room there. But some of those educated guesses may turn out to be wrong or simply non‑optimal. Data can help make more informed design decisions around layouts and configurations.
Smart location services allow operators to see how different spaces are being used. Over time, this usage data will reveal the relative popularity of those spaces, so FMs can easily make a business case to repurpose underused areas and make sure they are reaching their revenue‑generating potential.
2. Predict Member Needs
Flex spaces’ emphasis on flexibility makes them inherently more competitive. Businesses are no longer locked into long contracts, nor will they have made significant investments into the look and feel of their workplaces, so it’s easier for businesses to up and leave. This translates into a diminished tolerance for dissatisfaction.
Keeping customers happy is therefore all the more important for flex spaces, especially at the coworking end of the spectrum. Workplace analytics that can not only provide insight into how and when a space is used, but also by whom, can help FMs understand member needs and habits and cater to them more effectively.
For example, if you can see whether tenants of one office or area are consistently in the building earlier than everyone else, this can be taken into consideration when organising cleaning schedules to ensure their office and the communal areas around it are clean and restocked by the time they get in. Value‑added tweaks like this make a big difference in a very low‑cost way.
3. Make Informed Decisions Now, And In The Future
While it’s beneficial to optimise your flex space from the get‑go, it’s actually a continuous and long‑term goal. Incremental changes build up to transform the way the building operates over time, taking the evolving needs of members into account.
Data therefore becomes more valuable as you continue to collect it, allowing facilities managers to understand the inner workings of the workspace, identify trends and therefore plan for the future more effectively.
This goes beyond restocks and even refits to tenant behaviour. If you can see how people are using a space, over time you can detect things like dropping engagement. If someone is coming into the office less often every week, or if they stop using an amenity, it can prompt a conversation to address what’s wrong before it’s too late.
Final Thoughts
Flex spaces are an opportunity for facilities managers to meet changing demands for modern workplaces, fill more space in a building, and thus boost revenue. But it’s a new, competitive world, with higher standards in terms of the experience offered. The only way to ensure your flex space is optimised for customer satisfaction and revenue generation is with the use of meaningful data.
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