We are delighted to announce that you are able to download the third instalment of the Nexudus Insights Reports series now.
As many of you will already know, our first report, The past is fixed, the present is moving, the future is Flex!, constituted what we believe to be the most extensive study into the coworking and flex space industry to date. Analysing over 3.5 million data points collected from over 90 countries, this report looked at the industry from a broader perspective to analyse its growth and performance from 2016 to 2021.
Our second report, In Meeting Rooms We Trust, took a much more focused approach by narrowing in on the US market specifically, and how resources are used and accessed by coworking and flex space users. What made this such an interesting study, was the unique insight it gave into the day-to-day use and activity within workspaces and how they can be used as a key indicator of overall workspace performance.
This third report takes a similar approach, however, this time we take a trip across the pond to analyse resource usage in UK workspaces. The UK has a thriving flex workspace marketplace, with London having the second-largest amount of sqm dedicated to flex workspaces in the world, just behind New York. This gives us plenty of data to sink our teeth into, making for a fascinating study.
So, without further ado, introducing...
In this article we will look at some of the key findings of the report, giving you a sense of what you can expect, and how operators can leverage the findings to optimise their own workspaces.
So, let’s get into it!
What is so fascinating about these findings is that it gives real insights into the working habits of flex workspace users. Our findings show that between 7 AM - 9 AM, the average duration of meetings is at its maximum in the UK - clocking in at 130 minutes. This duration drops between 10 AM and 2 PM to an average of 100 minutes, rising to 110 minutes between 6 PM and 7 PM.
An additional finding showed that the average capacity of booked resources between 10 AM and 4 PM remained stable at approximately 6 users. This sort of information can be incredibly useful for workspace operators seeking to better understand the habits of their users, and how their workspaces can be optimised accordingly.
One of the most interesting findings of these studies is how the capacity of a given resource has a direct impact on the number of bookings it receives. This report found that meeting rooms of between 8 and 9 users were those that received the highest percentage of bookings, closely followed by resources with a maximum capacity of three or fewer users.
This information is critical for workspace operators as it allows them to make data-led decisions as to how to most effectively structure their workspace to maximise efficiency. Understanding the most popular sizes for meeting rooms and structuring your workspace accordingly can help you to ensure your all-important space is not taken up by large meeting rooms which have significantly less demand from your users.
As you might imagine, spaces with more members command a higher average booking price for their resources. More specifically, those spaces with between 100 and 250 members have the highest mean hourly base price for their resources, while spaces with between 40 and 100 members had a lower mean price for their resources.
It’s not all doom and gloom for smaller spaces though, as their average booking size skyrockets past 8 PM - indicating they have a much more active social component than larger spaces that may gain more revenue from resources.
This should give you a sense of what you can expect from our latest Nexudus Insights report. Now all you need to do is head over and download the full report for free to get the full picture of Meeting Rooms usage in the UK.
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