IWG Opens More Co-working Spaces as Hybrid Working Demand Grows
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According to the International Workplace Group (IWG), the company's network of co-working spaces is growing fast. Since many have embraced the hybrid working model due to the Covid-19 pandemic, IWG has added over two million new users.
IWG Malaysia head, Vijayakumar Tangarasan, stated that hybrid working has now become the new work paradigm. Employers are offering workers the choice to switch between home, a nearby workspace, or the headquarters for work.
He said that organisations of all sizes increasingly appreciate the hybrid work model's benefits with hugely reduced commutes for workers and an enhanced work-life balance.
Almost 4 out of 5 employees want a workplace closer to home
Vijayakumar cited IWG's recent study that found 77% of employees said a workplace nearer to home is a must-have for their next career move.
According to him, employees' desire to work closer to home has initiated the adoption of hub-and-spoke. Companies primarily work from the main office with satellite workspaces or offices for the staff to have a professional workplace within reach of home.
IWG is launching two new centres, namely Regus Bukit Bintang City Centre (Regus BBCC) and Spaces Exchange 106 in Kuala Lumpur, to meet the increasing demand for hybrid work solutions.
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Co-working spaces have become more popular after the pandemic.
He added that the two new centres would be the company's 39th and 40th workspaces in this country, strengthening its network of over 3,300 locations worldwide.
The extra workspaces grow IWG's portfolio in offering end-to-end solutions for its members in Malaysia and meeting the demand for a flexible and professional workspace.
Moreover, he also said IWG had recently signed its largest-ever deals with Standard Chartered for 95,000 workers and international technology company NTT Ltd for 300,000 employees.
How hybrid work benefits companies
According to Vijayakumar, the shift to hybrid allows companies to scale back their leased or owned property, decreasing their overheads and giving them the agility that traditional contracts cannot match.
He added that hybrid working is better in numerous ways, notably for those in the organisation, planet, and the bottom line. Hybrid working does not only improve work-life balance, but it can also enhance productivity.
He said the interest in co-working spaces in this country has been developing extensively, and IWG is eyeing many more market options for the firm to grow.
He stated that IWG would be aggressively expanding in Malaysia, and it is planning to have more new spaces in Johor, Penang, and Klang Valley, where there is increasing demand.
More about IWG's newest co-working spaces
Vijayakumar said Spaces Exchange 106 is on the 23rd floor of one of the top 10 tallest office buildings worldwide within the Tun Razak Exchange area.
The workspace provides 3,559 sq m of flexible and customised workplace solutions, complemented by a 360-degree panoramic view of Kuala Lumpur.
The Regus BBCC is situated near one of Kuala Lumpur's busiest crossroads and is a short walking distance from primary public transport links.
He said that IWG will officially launch the workspace in February 2022. It is fitted with meeting rooms, private offices, and ample break-out areas to enable employees to move between work and leisure seamlessly.
Source: The Malaysian Reserve
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