However, that has changed today as co-working spaces see more multi-national corporations downsizing their main office, opting to put some, or all, of their employees in co-working spaces across Singapore.
The company will be moving into WeWork’s newest office building at 21 Collyer Quay, which will be opening in three phases starting July 2022. WTW employees can also work at other co-working offices supported by WeWork, or use the community floor in theirFor co-working space providers like WeWork and JustCo, they are getting more business from companies seeking flexible work arrangements post-pandemic – especially from MNCs like WTW.
"Having gone through the pandemic, companies are now more sensitive to their real estate commitments and this has driven demand for flexible workspaces like WeWork," said Mr Tol. While these larger enterprises had, on average, bought memberships for 73 workstations in the last quarter of 2021, Mr Sim said that number has increased to 85 workstations in the first quarter of 2022.
Switch has more than 100 work booths and 70 co-working space providers housed on its platform. It has over 60,000 users across Asia. Some turned towards maximising their hotel space and lounges, turning them into co-working spaces for office workers to have a conducive working environment while offices were forced to shut.
"For us, the co-working business vertical is here to stay... We are of the belief that remote work is more than a pandemic-exclusive phenomenon," the spokesperson said. The group had received an average of 35 bookings a day per hotel between October and November 2020 when working from home was the default. With the reopening of offices, the number of bookings has slowed to just 35 a month.
“They usually have a traditional lease space to put their ‘core’ team and a co-working space for other employees who can adopt flexible work arrangements,” said Mr Sim.
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