Why flexible working is also interesting for risk managers

Risk managers have a new favourite topic: flexible working. The use of flexible working and a networked real estate strategy is a relatively new, growing trend in risk management.

IWG, the parent company of leading flexible workplace solutions providers such as Regus and Spaces, recently surveyed 18,000 business professionals from 96 countries about risk management & flexible working.

The results are astonishing:

• 73% of respondents said that flexible working helps to minimise risks.
• 89% believe flexible working will help their business grow and optimise costs
• 87% believe it helps their business stay competitive
• 83% believe it will help their business maximise profits
• 82% believe it will help them create a presence in new markets
• 80% said that allowing their company's employees to work from anywhere has helped attract and retain top talent over the longer term

So companies are increasingly exploring how flexible working can contribute to growth. In the process, they are also discovering how flexible working can help them successfully manage different types of risk.

The financial risk

A study by real estate company JLL recently estimated that by 2030, 30% of corporate real estate will be in flexible use. That's three out of ten buildings. Why are companies increasingly using flexible workplace solutions?

• One powerful reason is cost. Companies can save significant costs - up to 50% or more - by outsourcing real estate
• The reduction of long-term leasing contracts, investments and total costs minimizes the financial risk.
• The new IFRS 16 regulation, which includes leased assets on a company's balance sheet, is another incentive for companies to take advantage of flexible working

The strategic risk

Global companies need to expand and penetrate new territories. They do this to be closer to customers, employees and suppliers. To be successful, a high level of commitment is often required.

Companies no longer want to be tied to long-term leases - especially when new markets are opened up. Again, a flexible workplace strategy minimizes such risk. Flexible working is not just about the productivity of personal employees (although this is undoubtedly a key benefit) - it is also about ensuring that companies of all sizes always have the flexibility to seize a new, emerging opportunity in a different market at any time.

Talent retention

In a connected, highly competitive world, business success is determined by top talent. It's well known that employee expectations and demands have changed, and so have the demands top talent makes of their potential employer. A recent study found that 87 percent of employees want the ability to work flexibly. And that doesn't mean working from home one day a week.

It's about the freedom to work on the move, explore new locations and fit their work commitments around their daily lives. If you can offer that as an employer, your appeal will soar.

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