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This article explores how businesses continue to evolve in step with a workforce that prioritizes work-life integration and expects access, flexibility, and technology that will not only contribute to personal growth but enable them to change the world. Other posts by enterpriseti.

The Evolution of the Modern Workplace | National Institute of Economic and Social Research

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Why go digital? This development is most evident when we look at meeting room budgets, which have grown increasingly diversified across product categories. While the meeting traditionally was the mainstay of telephone and display technologies, we are now seeing that as the size of a meeting room grows, there is a significant increase in spending on goods other than displays, such as audio, collaboration devices and control products. The distribution of budgets is highest in large meeting rooms, where over 60 percent of funds are spent outside of display technologies.

This diversification is not only evidence of the growing importance of a wider set of technologies but also the increasing complexity of the meeting room market.

Evolution, Transformation and the Modern Workplace

Read the Integration Guide to Collaboration. Demographic change and budget diversification are not the only significant changes happening to the meeting, with employee habits and practices also undergoing a cultural transformation.

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With more employees working from home, and the increased ability to work in multiple locations geographically or in different areas within an office, workers are now much more flexible with where they are working and who they are working with. Because the driving force behind the growth of the modern workspace is coworking, most workers tend to come from sectors that do not involve inventory management.

Technical Characteristics Shared by Modern Workplaces

These workspaces are also common in highly populated cities where office space is extremely expensive. For instance, getting an office space in London or New York city costs a lot more than what a worker or a company would pay for an office space in Manchester or in Renton, Seattle.

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  7. This also explains why many Workspace Managers in these cities tend to have coworking or shared office space as an option amongst their services. For instance, Prime Office Space , a UK-based workspace management company has shared workstations as one of the main products as it seeks to accommodate diverse types of customers.

    Millennials Arrival And the Evolution Of The Modern Workplace

    The London Office Space blog, another UK-based commercial workspace agency reports that most workers who seek coworking space come from the information technology, media, and Fintech markets. Clearly, companies operating in these markets do not manage any inventory like you would find in the retail and manufacturing industries, and this explains why they are very common in coworking spaces.

    Another factor that is driving the modernization of working spaces is competition and the desire to increase profitability.

    To grow, some businesses may require expanding their footprint to other markets or regions. This will require getting an office space, or at least a satellite office. Workspace managers are out to get as much as they can from customers looking for office space and thus, most will often be required to pay goodwill when signing up the lease agreement.