Open or closed work spaces, ambient noise or total silence, energizing or calming lighting, up with the birds or up with the owls—everyone has their own ideal work environment and even that can change by day or task. For many businesses, the majority the of work can be completed anywhere with a computer and a telephone. If that describes your business, giving employees flexible workspace options is a win-win for business owners and employees.

Giving employees options about when and how they work saves money, time, and resources, fosters productivity and creativity, and results in a happier, healthier team. Here are some of the benefits of flexible workspaces.

It saves you money.

Paying for enough rental space for every employee to have their own furnished and equipped cubicle or office is a huge cost, especially for companies starting out. And if most of the work can be done remotely, you have part time staff, staff that travel for work, and a lot of time spent in meeting rooms, then a lot of resources go unused. In fact, a recent report by Cisco found that in that traditional design, individual workstations were vacant 65% of the time on average. By offering shared office options, like hoteling, and teleworking, you can significantly save. In that same report, Cisco offered flexible workspace and hours, task-based office designs, and more quiet rooms or team rooms which reducing real estate costs by 37%.

It improves employee health, satisfaction, and productivity.

Employees are people, with different preferences, lifestyles, needs, and things that make them “tick.” There is no one-size fits all way to get the most out of your workers and keep them well and balanced. But as a good employer, you can hand that power over to them. Flexible work hours allow people to work around family schedules and personal needs, such as medical accommodations or appointments. Flexibility in hours can also allow your employees to work when they are most productive and creative. Among 212 companies recently surveyed, 67% found that flexible work conditions increased productivity. For many, the most stressful part of the day is the commute. Think how much stress you can take off of your employees without even touching their workloads. And collectively, we can reduce the traffic and serve our environment by all driving less.

So if you want to cut down on costs, improve employee health and happiness, and increase productivity give some serious thought to flexible workspaces. The business environment is changing in many ways, and the way we work should too.