According to Andrew Chung, there are several reasons for Asian businesses to adopt a flexible work strategy.
First of all, the 2016 Greater China Employee Intentions report by Michael Page suggests that half of the respondents are keen to see flexibility in their working hours become one of the top benefits they receive.
By 2020, more than 60% of the people entering the workforce (Generation Y and Generation Z) will be living in Asia and they are likely to choose growth and flexible working over salary. In general, flexible work schedules and collaborative work culture are becoming more and more important.
Another reason is technology. Since it became a fundamental part in our daily life – especially in Asia – Asia Pacific will be the region that will spend the largest IT budget worldwide according to the recent research IT budget – drivers, trends, and concerns in 2016. Technology is an important aspect since it allows employees to stay connected and engaged with their work – anytime, anywhere.
In general, entrepreneurship is on the rise. Not only because Beijing, Bangalore, Tokyo, and Shanghai are among the top six cities globally in terms of growth, but also because major Asian cities have committed to supporting the rise of start-ups. A good example is Seoul.
Work-life balance is another factor. This term simply means more flexibility and more control over when, where, and how employees work so that they can be their most productive and efficient without having to sacrifice personal or professional matters.
The State of Work-Life Balance in Hong Kong survey showed that 82% of employees have listed work-life balance as a critical factor when it comes to productivity, engagement, attraction, and retention levels – another important factor why companies in Asia should become more flexible.
Also, businesses are looking for cost-efficient alternatives. Thus, by making use of shared offices and co-working locations such as Seats2meet, companies, and organizations cannot only create a more flexible work environment, but they can also better focus on their core business while leaving their workspace provider to take care of all administrative and workplace matters.