More people are warming to the idea of coworking spaces, and it’s unlikely the trend will stop soon. In fact, shared workspaces are gaining popularity as freelancers, business owners, and workers look for alternatives to the traditional office setup. But what does the future hold? Will coworking continue to grow in popularity, or will something else take its place? To learn about this emergent trend, click for more info.
Generally, shared spaces meet the demand for flexible and affordable office space, and we believe they will gain more traction in the coming years. Simply put, the future of coworking spaces is looking bright! Studies have shown that the demand for shared workspaces will continue to grow. Let’s take a look at what we can expect…
1. Projected Growth
Coworking spaces have become popular due to the flexibility they offer. With a traditional office lease, you’re locked into a long-term contract and often have to sign a personal guarantee. This can be a huge financial risk for small businesses and startups. But with coworking, you can rent space monthly with no long-term commitment. Such flexibility appeals to many businesses, especially in today’s uncertain economic climate.
Another factor driving the growth of shared workspaces is the freelance economy. In the past, most people had full-time jobs with benefits and stability. But now, more people are choosing to freelance or work remotely. And coworking spaces provide the perfect environment for these types of workers. They offer a professional space to get work done, along with the opportunity to network and collaborate with other like-minded individuals.
With these factors in mind, it’s safe to say coworking is here to stay. With the continued growth of the freelance economy and the increased demand for flexible workspace, coworking spaces will continue to proliferate in the coming years.
2. Focus on Sustainability
Some property owners have taken a sustainable approach to designing and managing shared spaces. In the future, we foresee a growing focus on greener spaces.
On that note, developers will increasingly incorporate sustainability into their designs, with greener shared spaces becoming a common feature. This may include adopting measures such as:
- Utilizing recycled materials.
- Maximizing natural light.
- Adding more greenery.
- Automating climate controls and increasing energy efficiency by using next-generation technology.
3. Hybrid Workspaces May Become the New Normal
Truth be told, the pandemic has forced many businesses to reevaluate their office space needs. And for some, the traditional office is no longer a necessity. With more people working remotely, there’s certainly a shift in how we think about work, which could have a lasting impact on the future of coworking spaces. In that regard, hybrid workspaces may take center stage in the coming years.
Hybrid workspaces are mixed working environments that combine coworking features with those of a regular workplace. A worker may utilize a hybrid space to connect from home or take up an office job while completing their daily chores.
We believe the future of coworking is in hybrid models. On that note, corporate executives will continually search for ways to bring workers back into the office while maintaining the flexibility and comfort they have grown accustomed to working from home.
In reality, the pivot to hybrid work is a wonderful alternative for business owners and employees. It meets the distinct difficulties of working from home while providing several advantages. Let’s face it, working from home may be rewarding, but it may negatively impact employees’ mental health if they are unaccustomed to extended periods of isolation. Hybrid offices can be the ideal coworking option, giving employees a chance to achieve that equilibrium by working from home some days and interacting with others in a shared space on other days.
4. Technology Will Impact Shared Workspaces
Undoubtedly, advanced technology will play a significant role in shaping coworking spaces. Some of the innovative measures firms may use to develop or maximize their shared spaces include:
- Adoption of wearable technology.
- The use of artificial intelligence to boost productivity.
- Remote automation to improve the work environment.
- Utilization of interactive dashboards to enhance collaboration.
Along the same lines, we’re likely to see greater use of access passes. Ideally, access passes link remote employees to networks of workspaces.
It’s no secret that remote collaboration can be an uphill task. Imagine coordinating schedules while dealing with conflicting time zones or software tools. Fortunately, coworking access passes allow employees to plug into their organization’s network and work more efficiently. Still, as business travel starts to regain momentum, professionals on the go will find that coworking passes are a must-have; they offer workers access to numerous coworking locations around the country or internationally.
The future of coworking is still unfolding, but one thing is certain: it will continue to grow and meet the needs of businesses and employees. With more people working remotely than ever, the demand for flexible work options will only increase. Meanwhile, if you are searching for innovative approaches to stay or keep your workers globally-connected, check out Venture X for options on how to go about it.