Coworking spaces not only give remote workers a place to work, but they also provide additional perks that are only available to coworking space members. The number of shared office spaces in the United States climbed by 16% in 2018, while the number of flexible workspaces outside of the United States increased by 36%. This trend is likely to continue, with forecasts indicating that the number of coworking spaces in the United States will increase by 6% yearly until 2022, and by 13% globally.
Changes in work culture fuel — and help drive — this phenomenon, which is more than a trend. As technology progresses and the corporate world modernizes, remote work and flexible working are becoming increasingly widespread. Coworking spaces aren’t only for freelancers and entrepreneurs anymore; they’ve evolved into a dynamic ecosystem that includes remote enterprise teams, established enterprises in private offices, nascent startups in brainstorming areas, and a diverse group of creatives and gig economy workers.
Some of the advantages of shared offices and coworking spaces include:
1. Networking opportunities and community events
One of the most commonly known advantages of coworking is the opportunity to meet people you might not otherwise meet. Part of it stems from working with new individuals on a daily basis, but parts of the community are also integrated into workspace solutions like WeWork.
Monthly networking events allow you to meet new people and practice your networking skills, while educational lectures, yoga classes, catered lunches, and seasonal markets help you transform those introductions into long-term relationships—and maybe new business.
2. Reduce loneliness and increase connection
When working from home isn’t an option, shared office spaces provide you with a network of professionals and can help you avoid the isolation that comes with working from home.
Recent study has revealed the importance of seemingly insignificant contacts on our sense of belonging; a polite exchange with the barista, the postman, or your next-door neighbor can help boost happiness. These interactions are the thread that holds shared office spaces together, and everyone contributes to this sense of belonging, from the person who greets you as you walk into the person sitting at the hot desk next to you.
3. Access to shared and private spaces
Shared office spaces are not like traditional offices in terms of design: there are no cubicles here. When teams get together, there’s plenty of space for collaboration with large lounges, handy hot desks, glass-walled private offices, and write-on-the-wall conference rooms. With bookable meeting rooms and stylish private offices, you may have privacy and focus on your work.
4. Flexibility and cost savings
Whether you’re a freelancer searching for a drop-in place or a company looking for a dedicated desk or private office, coworking spaces allow you to pay only for the area you use. Plus, without the pressure or rigidity of long-term traditional leases, flexible arrangements allow you to scale at your own speed.
Shared office spaces allow tenants to expand quickly without worrying about spending for space they don’t require. Furthermore, built-in amenities such as front-desk and cleaning staff, printing services, internet access, and kitchen and bathroom amenities minimize the typical overhead expenditures associated with creating your own office space.
5. Remote access
The opportunity to plug in at any time, in any location, is a key lure for coworking professionals, with shared office spaces sprouting up all over the world. When you know you’ll have access to WiFi, a pleasant space to work, and office staples like printing and coffee are only a card swipe away, working while traveling becomes a lot easier. Furthermore, organizations can select to hire the greatest talent, regardless of location, without incurring relocation costs or the risk of dissatisfied remote workers.
6. Increased productivity
Your focus and energy levels fluctuate throughout the workday, from the early meeting frenzy to the 3 p.m. slump, and your workstation should reflect this. Coworking spaces typically include a variety of work areas to accommodate various work types. Coworking facilities are designed to maximize productivity by providing more variation than a regular workplace while still providing more structure than working from home. Intentionally planned environments make progress simple, while intangibles like background music, natural light, and controlled air temps keep you energetic and refreshed.
Furthermore, coworking tackles a difficulty related to equity theory that is typically associated with working from home. In an office setting, you can see your coworkers’ work—how they perform, when they arrive each day—which can be used as a benchmark for measuring your own performance. It can be tough to stay productive in a home office when this is removed, and the question “Is this enough?” is a continual niggle. Surrounding yourself among people forces you to concentrate while also allowing you to relax by taking a break for coffee or a walk outside.
7. Break out of your comfort zone
The ever-changing work environment can be tough at first if you’re not used to opening, buzzing office plans or the social side of coworking. However, by stepping outside of your comfort zone, meeting new people, and working in different locations every day, you’ll be forced to remain innovative and creative in the face of uncertainty—traits that are comparable to those necessary in the early stages of a startup.
Stepping out of your comfort zone to try new things and consider fresh views helps to spark innovation and entrepreneurship. The challenge keeps you flexible, which leads to more success in both your professional and personal lives.
8. Wellness and work-life balance
Exercising throughout the workday has been related to greater productivity and cognitive abilities, and activities like meditation and yoga can help you focus and be more creative. Internal staircases and wide interior lounges are common design components in coworking spaces that encourage movement during the workday. Many WeWork sites are part of a larger complex that includes gyms and exercise studios. WeWork also has meditation rooms, regular community yoga sessions, and onsite showers that are accessible after a workout.
9. Finding your spot
A shared workspace allows you to move around the office and locate the best spots for you. Your attitude may change during the day, and changing locations may help you be more productive. You’ll find the greatest positions for yourself by experimenting with different corners at work. People who like to walk around while working will enjoy working in a coworking space.
10. Inspiration/mentorship
Shared office spaces are where a diverse group of professionals, startups, freelancers, artists, and entrepreneurs come together to support each other in growing their businesses. They are connected by a common platform and share similar life objectives, ambitions, and struggles. Like-minded people come together in this space to use their creativity, intelligence, and determination to make their goals a reality. The people who work in the shared office space are a source of inspiration for one another and mentor one another as they progress.
Wrapping Up
Whether you’re an entrepreneur looking for investors, a creative searching for partners, or an experienced company looking for new clients, shared office spaces are great incubators for new opportunities. These lively shared workspaces can help you boost productivity while also fostering new friendships. They also provide you the freedom to work when and where you want, as well as scale operations as needed.
(Related: Renting a shared office vs working from home)
Enterprise software development experience. More recently in positions including CTO, Lead Developer and Head of Product in Australia. Deep expertise in property and legal technology in Australia with a specialty in lead generation and tech scalability across Asia-Pacific.