Study: UAE businesses seek flexible workplaces to mitigate financial risks
UAE business leaders and risk managers are adopting flexible real estate strategies to grow their company and mitigate against risk, according to a new study by International Workplace Group (IWG), the parent group of leading workspace companies including Regus.
The UAE study, which was part of a comprehensive global study based on the insights of over 18,000 business people across 96 companies, found that 91% believe flexible working helps them to grow their business and maximise profits, while 84% of UAE business leaders recognise that flexible working helps to mitigate against risk including financial and strategic risks.
The study also found that 84% believe flexible working enables them to manage volatile markets, while 87% believe it helps them to optimize costs.
“Business leaders are starting to recognize the strategic and financial benefits that workplace revolution brings to them. Risk managers are paying close attention to their property portfolios and are now realizing that the new weapon in their arsenals – real estate,” said Vassilis Bazinis, Country Manager UAE, Regus.
“Companies can save significant costs on real estate that they outsource, sometimes as much as 50% or more. Reducing long leases, capital expenditure and overall costs provide a financial boost that helps financial risk.”
A flexible workplace strategy negates another important risk which is a strategic risk. Flexible working is not simply about personal employee productivity, it is also about ensuring that businesses of all sizes have the agility to seize an opportunity in new territories. It allows businesses to expand in a smart and safe way without getting tied down in long-leases or overheads. The survey results showed that 93% of UAE businesses believe that flexible working allows businesses to create a presence in new markets.
“Flexible workspace strategy gives risk managers peace of mind that they have a plan in place for market volatility or any unforeseen events. It offers them greater strategic agility,” added Bazinis.
In the UAE, IWG is known through its Regus brand, offering flexible workspaces across the UAE, including Dubai, Ajman, Sharjah and Abu Dhabi. A truly global network with over 3,000 locations in more than 100 countries, Regus serves 2.5 million members worldwide. In addition to making the latest workspace infrastructure available, Regus also provides administrative support for its members, ensuring all contact with a company’s customers is both professional and personal, and helping to minimize the operational costs of hiring fulltime admin staff.
Over 18,000 professionals from a range of different industries in 96 countries were surveyed in the IWG Flexible Working Survey. The sample is highly representative of senior managers and owners in businesses across the globe.