What Does the Future of Office Space Look Like in Dublin?

As working lives become more variable, flexible work arrangements will continue. So what does the future of work hold, and what are the key trends in office space in Dublin? The office space market in Dublin is changing rapidly, however here are three key trends that are currently shaping the landscape of work in Dublin.

3 Key Trends Surrounding the Current Landscape of Work

1. Workers Want More Flexibility

According to a recent Microsoft study, more than two-thirds of workers want flexible working arrangements to stay in place even after the pandemic ends. Inflexible workplaces have been the driving factor behind the Great Resignation, and Dublin is no exception. One in three surveyed Dubliners cited workplace flexibility as the primary reason for seeking a new job.

Reasons for these trends include:

• Many workers have commitments outside of work that they need to be able to attend to.
• Workers are often more productive when they have some control over their work schedule.
• Flexible work arrangements can help reduce stress levels and improve work-life balance.
• Companies that offer flexible work options tend to attract and retain better employees.

2. Businesses Are Re-Evaluating Their Workspace Needs

There's no denying that the way people work has changed dramatically over the past few years. With more and more people working remotely or on a freelance basis, the need for traditional office space is decreasing. As a result, flexible office space is becoming an increasingly popular option for businesses and individuals alike. Here are some reasons why flexible office space in Dublin is being looked at more as a viable option than commercial leased spaces.

Cost

Cost is perhaps the biggest factor in the growing popularity of flexible office space. Commercial leasing rates in Dublin are some of the highest in Europe. By opting for a flexible office solution, businesses can save 30%–40% on their office space costs. Furthermore, flexible office space is often available on a pay-as-you-go basis, which means that organisations only pay for the days that employees actually use the space.

This can be a great way to save money, especially if teams only need office space for a few days or weeks out of the year.

Productivity

They say that home is where the heart is, but what about the office? Where does productivity really thrive? A study by the Harvard Business Review found that employees perform better when they can control their space. In other words, when given the opportunity to personalise and customise their work environment, workers are more likely to be engaged and productive.

Flexible office spaces allow businesses to provide their employees with a more comfortable and creative work environment that can promote better focus and concentration.

Location

Prime commercial locations can be cost-prohibitive for many businesses. Flexible office space gives companies access to convenient locations without having to sign a long-term lease. This can be beneficial in terms of attracting talent, as well as providing added value to clients and partners. Flexible office spaces can be especially helpful for start-ups and small businesses looking to grow quickly and not wanting to be tied down by a lease.

Amenities

Flexible office space often comes with a range of amenities, such as meeting rooms, event space, and break-out areas. This can be a big selling point for businesses that want to provide their employees with a modern and comfortable working environment. Flexibility

With a commercial lease, organisations are locked into a long-term contract that can be inflexible should business needs change. Flexible office space allows companies to scale up or down as their business needs change without being tied to a long-term contract.

3. There's Less Supply of Flexible Offices Compared to the UK

There have been a lot of discussions recently about the landscape of work in Dublin, and one key trend that seems to be emerging is the lack of flexible office space. While the number of coworking spaces and serviced offices has exploded in London over the past few years, there are still relatively few options in Dublin.

This lack of choice can be frustrating for companies who need flex space for their employees, as it limits their ability to find a location that suits their needs. Operators such as WeWork and Regus have a monopoly on the flexible office market in Dublin. They're able to charge higher prices because there is no competition. For example, WeWork has three locations in Dublin, and Regus has 11. In contrast, WeWork has 51 locations in London, and Regus operates over 90. As more flexible office operators enter the Dublin market, businesses and employees alike will have greater choice.

Final Thoughts

The rise of coworking and flexible office space in Dublin has been a great way to promote collaboration and creativity while still maintaining independence for businesses. The ability to have a customisable, private office within a shared space is really appealing for businesses of all sizes. And as workspace offerings expand, businesses will have greater choice in how they want to operate.

For start-ups and established companies alike, bringing flexible office space into Dublin has the potential to boost productivity, reduce employee turnover, and save money.

Compare Dublin's Top Coworking Operators