Productivity, technology and sustainability will dominate workplace trends in 2023: IWG

As the business world edges closer to a milestone inflection point, IWG believe the proportion of professional employees working out of a single location will be in the minority within the next five years. Mark Dixon, CEO of IWG speaks of a workplace mindset evolution: “Hybrid working is now the preferred solution for millions [of people] as they divide their working hours between company headquarters, a local flexible workspace and their home.” It boosts corporate productivity and is a more sustainable way of working.

A major factor contributing to this evolution is that companies are now focusing on outcomes, rather than count the total number of hours employees work in a week. The four-day work week is frequently discussed and appears to be embraced by employees, with 55% of Gen Z surveyees predicting it will become the norm in the few years. It is essential, however, that companies are confident that the four-day work week does not lead to a drop in productivity.

As technology advances, virtual reality is increasingly being explored for workspace tools and providing people to the opportunity to work from anywhere, anytime. IWG is a market leader in the sector, boasting 3,500 locations across 120 countries. They too have extended their network to Singapore, with 22 locations and four brands Regus, Spaces, Signature by Regus and the luxury No18.

The shift to hybrid work has encouraged a ‘Great Lease Resignation’, and we can expect to see companies forgo long-term leases and instead capitalise on the cost-saving and talent opportunities the hybrid work offers. The focus has remained on enriching the workplace experience of employees, by utilising new technologies to boost efficiency and productivity and a greater awareness of Tengah Plantation EC sustainability and well-being. IWG believe this will be the cornerstone of corporate real estate in the future.