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The Future of Work: Are Co-working Spaces Becoming the New Normal?

Aug 17, 2021
The Future of Work: Are Co-working Spaces Becoming the New Normal?

With the various workplace trends that emerge each year, the future of work has been the subject of many debates. Through it all, one workplace trend that seems to be here to stay is co-working spaces.

Co-working spaces are a unique setting brought in the sharing economy. These spaces combine the productivity offered in traditional offices with a more collaborative environment that brings various workers together. They provide employees with the chance to share not only their physical assets, such as the office space, furniture, cafeteria, and so on but also their abstract assets, such as information and knowledge in different fields.

Although the pandemic influenced the decline of the co-working spaces sector in 2020, they still have a bright future ahead. A number of studies predict a growth of over 21% in co-working spaces in 2021. To better understand the appeal of co-working spaces and why they are becoming the new normal, let’s break down the benefits that come with such spaces and how they look like.

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What Does an Average Co-working Space Look Like?

Flexibility is the key feature of a co-working space. Therefore, the elements of their design all aim toward ensuring the users get a variety of options while working in their spaces. 

Individual and Group Work Areas

Co-working spaces, first and foremost, are places where people go to work. Thus, it is important that the space provides areas where people can get focused while working. However, the beauty of co-working spaces lies in the combination of those private areas with other spaces that encourage collaboration and socializing between workers. An average co-working space will have a layout design so that some people can work alone while others interact with each other freely without disturbing them.

Various Seating Arrangements

Except for the classic personal desk and chair combo, an average coworking space also offers other seating arrangements. From big tables for group discussions to bean bags and throw pillows, each co-working space tries to provide diversity in its seating arrangement and appeal to the needs of its users.

Necessities

An average co-working space will provide the workers with all the necessary stationery and other office supplies—pens, pencils, paper, printers, copy machines, and more. They also have strong and fast Wi-Fi to suffice every worker.

Unique Room Designs

Similar to the variety of seating arrangements that co-working spaces provide, they try to also include different rooms with unique designs in order to create spaces where workers can loosen up. They offer spaces where the workers can work, socialize, and relax.

Benefits That Come with Co-working Spaces

Co-working spaces are a popular choice because the employees benefit greatly, both individually and career-wise. Such spaces are becoming the new normal not only for providing outstanding working conditions but because they create opportunities that are harder to come across in any other workspace.

Access to better working spaces

The overall design of the co-working spaces is better than that of traditional offices. Workers have access to different areas, ones where they can work by themselves or with colleagues, and concentrate on the work, and others which include more restful activities. The inclusion of such spaces in the workplace is essential to stimulate the worker’s brain and facilitate creative thinking.

Increased employee satisfaction

According to a study, the design, functionality, and management of the workspace determine the employee’s satisfaction. Since co-working spaces cater to different work styles, as well as provide many in-office perks such as coffee, snacks, social events, fun elements like games to help them relax, and so on, they help increase the employee’s satisfaction. Reports show that 77% of employees are happy in their co-working spaces.

Flexibility

Co-working spaces offer flexibility to the individual workers and companies who use them. Members come and go in these spaces as they please, they don’t have a set schedule to follow, but instead, they have the freedom to create their own. Companies also benefit from the flexibility such spaces offer. Let’s say your up-and-coming company has only five employees, you would have to pay for smaller areas to work in. Then, a year later, your company has grown, has more employees, and needs more space. It is much easier to switch to a bigger area in a co-working space than to create a larger traditional office.

The community that is created

In contrast to working from home or in a traditional office, co-working spaces are appealing because they help members from different companies, ventures, and projects socialize with each other. These spaces enable workers to naturally interact with other members. It doesn’t matter whether you are a freelancer, self-employed, or company worker, the co-working spaces create a sense of companionship and help everyone feel part of a greater community outside of their own sector of work.

Wellness and safety

Co-working spaces, with their amenities, help workers recharge and feel comfortable. The workplace design positively influences the workers’ health and wellbeing by including areas to relax, healthy food/snack options, and rooms to work out in.

Affordability

Co-working spaces are more affordable than renting an office. When operating in co-working spaces, there are fewer overhead expenses like furniture, paying for technical infrastructure, water or electricity bills, hiring receptionists, and other related costs. Estimates suggest that a company can save up to 30% on operational costs alone when functioning in a co-working space.

The liberty and freedom it provides

Members in co-working spaces have more freedom to self-manage their work. They plan their own schedules, decide how they want to work and where. Giving employees more freedom and control over their work helps boost their engagement and productivity.

The network all the people are eligible for

Co-working spaces are the perfect opportunity for networking. As a new freelancer or entrepreneur it can be difficult to make a name for yourself, but working in an environment that contains a diverse group of workers with different backgrounds and ideas, makes networking easier. You would have less pressure socializing and developing professional contacts when interacting with others in the relaxing areas that co-working spaces include.

Co-working spaces have risen in popularity and rightfully so, with individuals and business owners realizing the many benefits that working in such spaces brings. Members of coworking spaces have flexibility in choosing where, when, and how they want to work, access to great facilities, and opportunities to socialize with other employees. Don’t be surprised to see co-working become the new normal very soon.

 

About Author: This article is written by our marketing team at HR Cloud. HR Cloud is a leading provider of HR solutions, including recruiting, onboarding, employee engagement, and intranet software. Our aim is to help your company improve employee engagement, employee productivity, and to save you valuable time!