We’re all feeling it. The prices of products and services are going up, which means our cost of living is increasing. At this time, the news is calling this most recent inflation “The Cost of Living Crisis” as it is putting a strain on households and even businesses trying to keep afloat.
As explained by the European Central Bank, “Inflation occurs when there is a broad increase in the prices of goods and services, not just of individual items; it means, you can buy less for €1 today than you could yesterday.” The same article further clarifies, “In other words, inflation reduces the value of the currency over time.”
Inflation is often flared by global influences, such as a pandemic, or even political initiatives. This makes it difficult for us to predict when prices will shoot up next. As such, it is important for businesses to prepare themselves financially for when inflation occurs.
Many businesses are discovering, during The Cost of Living Crisis, that shifting to a Flexspace has been an excellent cost-effective decision. Here are the top ways in which moving to the Hybrid Work Model can save your business and employees money during this tough time!
Money-Saving Fixed Agreements
According to Business 2 Community, rent and utilities are at the top of major business expenses for companies. There’s good news, though! Even during inflation, Flexspaces can provide relief to businesses by providing fixed licence agreements for their business clients.
This means that services such as heating, electricity, security, and even the Internet are all bundled together for one low fixed price. Although you still have to pay for these services, having them bundled and fixed is bound to save you thousands over the lifetime of your business!
The Beneficial Hybrid Work Model
When businesses shift to a hybrid work model, they’re not just benefiting the business itself. They’re also contributing to an elevated lifestyle for their employees. You see, the hybrid work model allows businesses to free up funds that could be directly applied to raises for its staff members.
On another level, the hybrid work model saves staff members money, too. An aspect many people didn’t think about when much of the world changed to working from home during the pandemic was that being at home raises the cost of bills.
That’s right, employees who were asked to work from home saw an immediate increase in their utilities. This is because they were working from home for 8-9 hours a day rather than using the electricity of the company they work for. By moving to a Coworking space, your employees will thank you!
For more information about the benefits of Flexspaces, we invite you to check out our article Choose What is Right for Your Business– Coworking or Office Space!
Reduced Commute Costs
It’s not uncommon for employees to commute for a job. In fact, about an hour total is the average length of time UK employees travel each day for work (SME News). Instead of sticking with the same faraway building you’ve always conducted business out of, why not move to a Flexspace in a more central location?
One of the major benefits of using a Hybrid Work Model and using a Coworking Space is that you have heightened flexibility in choosing your location. This way, you can pick an office that is closer to your employees and reduces your staff’s commute times.
Prepare for Inflation Today
Prepare your business today for inflation as the Cost of Living Crisis! Not only will you save money, but your employees will be grateful for the change as well. Reach Out to us here at LibertySpace for more information about your Flexspace options. We’re happy to discuss the pros and cons and show you our celebrated workspaces.
