- Shared workspace provider WeWork estimated that it supports some 680,000 jobs globally, according to the company's first ever Global Impact Report, created in partnership with HR&A Advisors. The report, shared with HR Dive via email, included a survey of the company's enterprise customers, 78% of whom said WeWork has helped them attract and retain talent.
- WeWork said it assists a wide range of employers including more than one-third of the Global Fortune 500. The company's report also said it has "global economic multiplier" of 1.7x; for every WeWork member, the company supports an additional 0.7 jobs across local economies. The company said roughly 75% of its top 100 enterprise member organization members have members in multiple cities, and that 49% of global enterprise members said WeWork has helped them enter new markets.
- A majority (83%) of enterprise members said they chose WeWork because of its location, the company said. The report also cited average savings on commercial real estate of $24,000 for a global company of four and $17,500 on average for a U.S. company of the same size.
The high and growing cost of commercial real estate could make "work anywhere" business models attractive options for more companies. As employers in an employee-driven labor market raise wages, offer more benefits and invest in training and development to attract and retain talent, they might need to look for ways to cut costs in other areas, perhaps taking a closer look at office layouts and locations.
WeWork isn't alone in this industry segment, however, with competitors including Alley and The Wing. Enterprise clients were a key focus of the statistics presented in WeWork's report, perhaps because of their importance to the company's business model: a CB Insights report said the company's enterprise business growth is "vital" to its long-term strategy.
Flexibility is a key trend driving the way work is done in modern business, and previous research indicates this will continue in the near future. Employees in a recent IWG survey said they saw flexible work options as the "new norm," while a majority in a FlexJobs survey said such options can improve their mental health.