In this world of mobile devices and online technology, remote work is becoming a trending thing. Therefore, the use of coworking spaces fills a new void today for people who work at home. Not only does the concept offer opportunities to socialize, but a person working remotely can also interact in a workplace setting. This allows workers to enjoy their time working while avoiding the isolation felt when applying their skills solely at home.
The benefits of coworking spaces are numerous, as they allow workers to plan their day and interact with others. Using the spaces benefits both commercial real estate (CRE) and the remote workforce. Therefore, coworking takes the most costly price for businesses and transforms it into a service, thereby creating a space-as-a-service model. This model adds to worker flexibility and equalizes balance sheets.
Along with cloud computing, coworking is a driver – one that will influence where, when, and how people work now and in the future. By combining coworking with mobile technology, people experience work that is more pleasant and conducive to their individual lifestyles and priorities. The advantages greatly outweigh any drawbacks.
Looking at the Advantages
When it comes to coworking, employees find the practice psychologically rewarding. Workers can work when and how they wish and do so in a professional setting. Therefore, they can get into the work habit more easily. For businesses, the use of coworking spaces is often more cost-effective than taking on a larger lease. Also, no maintenance is involved for a site’s upkeep.
As an employee, you can make use of various space configurations – from individual workstations and desk space to private pods for two or more people. The concept accommodates virtually all work hours and routines.
Reviewing the Drawbacks
Some people may find the lack of a hierarchy or the openness of the spaces hard to get used to. However, a worker can overcome these feelings by getting used to a routine and adapting themselves to the environment over time.
As the demand for flexibility in the workplace grows and CRE costs continue to rise, coworking becomes more and more critical. That is why many businesses and workers see coworking as a major integration into a workplace strategy.
Keeping Pace with the Remote Workforce
Coworking has the potential to transform the way the world’s workforce works. Redesigning
Coworking has the potential to transform the way the world’s workforce works. Redesigning the workplace so that employees have the security of a typical office while benefiting from the freedom that comes with working from home provides a unique opportunity. That is why coworking is fast becoming the norm and continues to gain popularity.
The paradigm of space-as-a-service has layered the ways businesses operate. Coworking enhances the value of a physical workspace by veering away from cubicles, allowing for more networking and engagement. Businesses can also focus more on their workers’ activities than where they conduct business. The resources offered by coworking arrangements also give employees the resources they need to work efficiently.
Adapting to a More Flexible Work Environment
Adaptability is prized above everything else in today’s workforce. For businesses, the value of a flexible work schedule that doesn’t compromise on quality can’t be overstated. Because of the increased adaptability that coworking spaces provide, more workers are able to respond to shifting market conditions.
Companies are discovering the importance of coworking in empowering their staff in place of a conventional office. A transition to more remote, self-directed work necessitates the use of coworking.
It’s no secret that some of the world’s largest corporations are embracing the gig economy and flexible work arrangements. This, in turn, is driving an explosion in coworking spaces.
Coworking is a natural answer to space demands – a solution that helps businesses as well as employees.
Costs for Commercial Real Estate Are on the Rise
In today’s economy, commercial real estate costs continue to rise. This factor impacts the firms renting office space. According to 2016 FASB accounting guidelines, this ripple effect makes it more difficult to obtain affordable workspaces and adds a significant burden to a company’s balance sheet.
In some cases, a business can save money on this sizable expenditure by moving to a coworking site from their own office facility.
Even if the cost of a coworking membership is similar to the cost of a lease, a firm still has the opportunity to expand or scale their space needs, as required. In turn, companies have some degree of control over the situation.
Coworking spaces therefore can suit the needs of both individuals and businesses. Packages offered by coworking sites make it easy to accommodate work needs and pay for the services.
Working Outside the Boundaries of a Traditional Work Schedule
Today’s remote and mobile worker is no longer bound by the constraints of a typical workday. There are fewer nine-to-five occupations, and business suits are being replaced with t-shirts and jeans. As a result of this shift, a less-traditional work atmosphere is more appropriate. That is why the use of cowork spaces makes perfect sense.
Employees want to be able to work when and where they choose, and as they like. A flexible workplace allows them to do this.
A work-life balance is crucial to younger workers who have children and other responsibilities. By using a coworking space, they experience greater efficiency, transparency, and productivity when working remotely. While work is a priority, it proves to be less of a restraint.
Getting Rid of Workplace Stigmas
In a traditional workplace setting, workers may conjure up images of managers peering over their shoulders or strongly feel dread when a deadline for a project looms. In some of the settings, talkative workers swallow up much of the work time. Fortunately, in coworking environments, the stigmas seem to fade from view.
That’s because the framework for the office is designed to work seamlessly. Employees can work autonomously and can adhere to a deadline more easily. Workers don’t have to feel guilty about taking a break because they work on their own time and by their own rules. If you want to experience a more laid-back atmosphere and independent work setting, coworking is designed for you.
Spaces for All Types of Office Work
Coworking offers workers diversity. Because coworking spaces are popular, they are creating a lot of competitiveness in the marketplace. In response, offices that invite coworking are open to accommodating the needs of individual employees.
Coworking arrangements are designed to offer flexibility for various work styles. Instead of accommodating the space to the employee, the employee can change where they are sitting or working.
The Expansion of the Space-as-a-Service Model
The space-as-a-service industry is estimated to be worth hundreds of billions of dollars. As the cost of commercial real estate continues to climb, coworking continues to grow in popularity. Many organizations still don’t understand how coworking works, but they are starting to see how it may improve their business operations and increase revenue.
Digital and cloud computing make it simpler for corporations to do away with a central, physical workstations. There is no use in having a workplace if you can accomplish everything you need to do online.
At coworking sites, you also have access to pay-as-you-go for meeting rooms for holding presentations. With the migration of cloud technology in the workplace, it does not make sense to continue to work in a traditional office setting.
Savings for Businesses Combined with Worker Flexibility
Coworking saves money for businesses, and adds flexibility to a remote worker’s workdays. These reasons alone supplant the need to lease even the most versatile space at a large office site.
Coworking allows a business to repurpose its lease expenditure while improving the employee experience. As a result, a transition to a coworking model is well worth the investment and time
Pricing at Coworking Sites
You can choose from a number of pricing options when you work at a coworking site. Most of the sites are situated on ground level for additional safety. All you need is a computer and you are good to go.
For instance, you can buy 40 hours of desk space for as low as $4.00 per hour. To buy the desk space, you might purchase 40 credits to apply to the hourly rate. This amounts to $160.00 and is good for 30 days. You can also buy credits to cover 80 or 160 hours toward a seat or meeting pod.
You can buy a desk seat for 80 hours for as low as $3.00 per hour in some situations. This arrangement is good for 30 days. The same holds true when you buy 160 hours of office use.
Coworking facilities also accommodate workers with day passes that are good for one hour or 8 hours, or cover the use of a meeting pod for 4 hours or 8 hours at a time.
When you know the pricing for a desk or a meeting pod, you can plan your workday activities accordingly. For example, you may need a meeting pod for a sales presentation – one that may be impossible to arrange at home. You can also use pods to privately work with other workers on projects.
If you have interruptions working at home, you can rent desk space so you can work on your own without interference. As an individual worker, you can set aside the money for the space as you need it, thereby making it easy to schedule your work and keep track of the costs as well.
As workers get used to working remotely, they also have to consider their workplace settings. That is why it just makes good sense to use coworking spaces and to take advantage of their benefits. Working in a coworking space is just not about freedom or savings on costs, it also adds more purpose and meaning to an employee’s job.