Next:

Why Office Neighborhoods Boost Productivity, Collaboration and Wellbeing

The flex space industry has been on a huge roller coaster these past two years:

  • 2019 brought all-time highs, especially during its second half;
  • In early 2020, we saw a massive drop in occupancy, bookings, and revenue due to COVID;
  • Since mid-2020, businesses have been going through a painful, but steady recovery process.

In short, the industry experienced decades worth of change in less than two years. No one expected these wild swings and we’re all still figuring out how to move forward.

Since OfficeRnD Flex helps operators manage 2000+ flex spaces worldwide (coworking, serviced offices, labs, campuses, and more), we’ve had a chance to closely monitor these market dynamics. That’s why we decided to dig into our data and find out what’s really gone on post-2019.

The result of our analysis is FlexIndex – a new way for the flex space community to see the industry’s global trends. And today, we’re releasing it to everyone.

FlexIndex Nov 2021

The FlexIndex is a unique composite index that tracks the flex space industry’s health, post-lockdown recovery, and development. Our data team created it by analyzing anonymized data from 1000+ flex spaces all over the world, with the help of Analytics Pro.

The index comprises 5 components (or KPIs), each of which has a value of 1 based on the 2019 benchmark. This gives us a value of 5 as a baseline, as you can see in the chart above.

On that note, we selected the following KPIs for the index:

  • Static Desk Occupancy;
  • Revenue per Available Workspace (RevPAW);
  • Bookings per Meeting Space;
  • Average Booking Duration per Paid Meeting Space;
  • Booking Revenue per Paid Meeting Space.

All FlexIndex KPIs Nov 21

We believe these represent critical business aspects of both small and large flex space operators. This is only the first iteration of the FlexIndex, so we’ll expand and update these components, based on your feedback and our internal research.

Besides the index, our data team compiled a comprehensive report, containing insights into the industry, plus details about the methodology they used. You can learn more about FlexIndex and download the full report at https://www.officernd.com/flexindex/. It’s completely free.

We plan to regularly update the index and present an even more detailed view of the industry’s trends. Your feedback will be essential to make that happen, so don’t hesitate to share your thoughts with us.

Hope you enjoy what we’ve put together!

Related Tags:

Want more tips for your workspace?

We pick the coolest and most useful blog posts, webinars, interviews, eBooks, company and industry news…
all together in the OfficeRnD newsletter!