Coworking Space Industry: The Future of Work Is Here!

Coworking spaces have become incredibly popular in recent years. US-based coworking offices are growing from around 4000 locations in 2017 to over 6200 in 2022.

Several key benefits to the use of coworking offices contribute heavily to this popularity. From more flexibility for workers to more excellent networking opportunities, what’s it like to work in these offices in 2023?

Optimizing office space in a coworking format may have been around for a few decades now. However, the growing numbers of remote and hybrid workers we see today have brought coworking offices to the mainstream.

This blog will explore how these flexible offices continue shaping modern businesses. Here’s a selection of major trends in the coworking space industry.

Coworking Space Industry: Technology Is Key

Flexible and remote workers are considering the use of coworking spaces. Thus, an increasing demand for offices that can provide advanced technology solutions exists.

Beyond the expected, fast, and secure Wi-Fi connections that staff need to complete their work, modern coworking spaces are expected to offer smart technology solutions to improve efficiency and productivity as well as physical and cyber security.

More than 90% of surveyed millennial and Gen Z workers claim that their offices do not provide the necessary technology to conduct their jobs effectively. Many of them are turning towards coworking spaces to bridge that gap.

Coworking offices equipped with integrated systems such as touchless access control and cloud-based management portals are becoming increasingly desirable.

It mergers essential systems like

• Room reservation software,
• Conferencing equipment and
• HVAC units with physical security technology like access controls.

Staff can manage property access, book facilities, and adjust utilities from a single smartphone application.

Coworking spaces offering these integrations can provide a much more convenient and efficient workspace than any traditional office.

Coworking Space Industry: Workers Are Looking For Community

Much has been said in recent years about the benefits of happiness, well-being, and productivity. Researchers have suggested that happy workers may be as much as 20% more productive than their unhappy or disengaged counterparts.

There are multiple factors to consider when gauging happiness. Staff who feel a sense of community are 58% more likely to thrive in their jobs.

Coworking spaces are, almost by definition, great facilitators of engaging workplace communities as staff from different companies sharing related professions can collaborate without the pressure of direct competition, but coworking trends suggest that this sense of community can be improved upon.

The coworking communities also offer community events such as shared lunches, on-site yoga classes, and evening networking groups. Workers can contribute to a unique coworking community culture on their own terms.

When we consider that 74% of modern remote workers claim to miss feeling a sense of office community, coworking spaces able to provide these benefits could prove incredibly popular in the coming years.

Coworking Space Industry: Energy Efficiency And Sustainability

Energy prices continue to rise. Media emphasis is being placed on reducing carbon emissions in response to the ongoing climate crisis. Modern organizations are under more pressure than ever to find effective solutions to reduce energy waste and improve workplace sustainability.

Research suggests that migrating towards more coworking spaces could help to combat these issues. The EPA found that if three or more companies share the same coworking premises, The teams could reduce their energy consumption by at least 30%.

Combine this with the implementation of smart technology like occupancy sensors and energy waste and you can reduce as much as 68%.

As more modern companies begin to appropriately consider these benefits, you can expect that coworking offices equipped with

• intelligent building management systems,
• automated HVAC networks.

Other similar energy-saving technologies will become increasingly desirable to business owners.

Coworking As An Employment Perk

The number of professional workers performing their roles as remote staff has increased from 6% prior to the pandemic all the way to 25% in 2023, with several large companies now able to expand their recruitment operations and onboarding systems beyond previous geographical restrictions.

As companies continue to adjust to this relatively new employment environment, it’s expected that some will offer to cover the expense of providing remote workers with their own coworking space as part of the employee’s discussed salary and benefits package.

Just as company cars and computers have been salary packaged in the past, coworking space access could become a perk for remote workers.

Recent data indicates that 87% of surveyed workers would choose flexible work. But only if the employers offer it. 89% of employees using coworking spaces claim to be happier in their roles since moving to a coworking setup, it’s likely that more employers will begin to discuss this as a perk.

Expansion To Different Locations

There are many coworking members who prefer to have more than one space in the city. It gives them multiple options for the same membership.

Frequent travelers can also take advantage of the same. While they are on the go, they can always have access to the spaces while being under the same brand.

As coworking spaces continue to become more popular and widespread across the globe, we can expect property owners and building managers to invest in more convenient smart technologies and better on-site amenities and to pay more attention to the needs and requirements of remote and flexible staff.

The coworking spaces are able to keep up with emerging trends such as integrated security systems, improved energy efficiency, and efforts to create engaging workplace communities.

These are most likely to become more desirable to employers and employees, helping to spur innovation in the coworking industry.

Visiting a coworking space can be counted as a perfect way to break the utmost monotony of working from home. This collaborative environment offers the right number of benefits for your working days.

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