The Future of Coworking Spaces: It’s Here to Stay

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The coworking business has been around since the mid-2000s. In recent years, the industry has been growing rapidly, especially since many businesses offered remote work for some of their employees. When the COVID-19 pandemic hit, remote work became more relevant and people had the option to work from home or another place of their choice.

While working from home remains a convenient option to most people, it no longer appeals to everyone. Being detached from the happenings in the office, as well as the lack of human interaction, reduces employee productivity, morale and overall performance.

This is where coworking spaces rescue the day. Many freelancers and remote working employees prefer to work in these spaces for quiet and some interaction. It’s no wonder that coworking spaces are everywhere, from College Park to New York City, you’ll find a coworking space!

With remote work being more relevant than ever, coworking spaces are set to steal the spotlight and stay under it for a long time.

Here are important coworking trends to expect in the near future.

The Rise of Remote Work

Remote work is no longer a new trend since it has been around for a while. However, COVID-19 forced many businesses to immediately switch to remote work. This way, companies could still operate during the crisis.

Statistics show that there was a drastic increase in remote work during the pandemic. About 20 percent to 25 percent of the workforce is capable of remote work from three to five days a week. Many businesses are realizing the flexibility and savings that come with remote work, which is why most of them are re-structuring their current workforce model to accommodate remote work. On the other hand, some businesses are also planning to adopt a more permanent remote-working model.

Moreover, many people were left unemployed by COVID-19. About 28 percent of workers are estimated to completely change their job by 2030.

The uncertainty of the pandemic caused more people to focus on the contingent workforce and freelance sector. Nowadays, the ability to work from home is a top priority for people looking for a new job.

How do coworking spaces fit in this narrative?

As many people work remotely, the demand for these spaces will increase.

Woman sitting and reading magazine in a coworking space

Careful Consideration of the Pros and Cons of Remote Work

Many businesses failed to acknowledge the benefits of a remote work setup due to their biased opinions. Some business owners prefer to keep a tight grip on their people, insisting that they should be aware of everything that is going on in the office. If your employees are working from home or in a coworking space, micromanagement is impossible.

However, many businesses were forced by the pandemic to leverage the remote work situation. Along the way, they realized the value of this setup.

Although remote work is not THE BEST solution, it is a great compromise. As a result, many people are considering the pros and cons of integrating remote work into their setup.

Consider the following pros and cons:

Pros

  • Technology allows high connectivity
  • Better employee performance, morale and productivity
  • More flexibility
  • Reduced costs on supplies and office space

Cons

  • Employees feel more isolated at home, which reduces motivation and morale
  • More distraction at home
  • Possibility of high turnovers
  • Poor planning and communication

For these reasons, many businesses are investing in coworking spaces. This way, they can still have control over the workplace and maximize the benefits of remote working.

Automated Coworking Spaces

Everything is nearly automated these days, including coworking spaces. When you have a space for employees, you also accommodate people with different jobs, different work ethics and different preferences.

Businesses are struggling to accommodate their workers needs, especially in terms of letting some employees in the office. Some people prefer to come in the morning while others work better in the dead of the night. If you regulate when people work, you might lose clients.

For this reason, coworking spaces are available 24/7. This can be a problem for coworking space owners since they have to hire people to work day shifts and night shifts, ensuring that people are present at the office.

Instead of hiring people to manage the office, many owners are investing in tech solutions. Now, automated coworking spaces are the norm. These tech-driven management solutions include user protection, surveillance and specialized software.

The future of coworking spaces has drastically changed in just a year. COVID-19 has accelerated coworking trends that are continuously developing into other trends. No matter what the changes are, expect that coworking will remain part of the future.

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