The Rise of Shared Work Spaces
With their creative and inspiring environments, shared work spaces have allowed professionals around the world different means to doing impact work, and have transformed cities into better places to work and live. These spaces have grown in popularity over the last decade, and come as a natural response to the rapid changes in technology and professional development that cater around busy and diverse work styles. Here’s a deeper look into the rise of shared work spaces and how they impact the modern workforce.
What are Shared Workspaces?
Shared workspaces, or coworking spaces, are defined as office space shared by a group of professionals that typically range from: self-employed, freelancers, remote workers, and independent professionals who want to work in a communal, collaborative setting. It breaks away from the traditional model where office space is occupied by employees of a single organization.
Miranda Hadamik, director of Houston-based coworking space, The Work Well, says that the goal is to “bring companies into a environment where they can network with peers, grow their businesses and thrive in a professional atmosphere.” The focus for companies like The Work Well lies in creating spaces to promote these positive emotions that allow workers to succeed in places that blend the home and the office.
Top Benefits of Coworking Spaces
Affordable Workspace
A traditional commercial office space normally requires a 2-year to 10-year lease and a mandatory deposit. Private office space startup costs such as furniture and utilities combined with state and federal laws in play can result in a difficult and costly experience with a commercial lease.
Coworking spaces work around this by being more of a club membership, where space is rented out each month at an affordable or custom rate. This promotes economic efficiency, flexibility and convenience which is ideal for any startup entrepreneurs looking for a professional workspace without the high upfront costs and long-term commitment.
Building Like-Minded Communities
Removing the “one office, one company” idea is common, and is shared among many entrepreneurs, freelancers, and other digital businesses. By 2020, 40 percent of the workforce in the U.S and 45 percent of the workforce in Canada is expected to consist of self-employed workers. This trend has led to increased demand for coworking spaces. According to deskmag’s 2017 Global Coworking Survey, the number of coworking spaces is growing by 22 percent per year, with membership rates growing at 40 percent per year. These spaces originally fostered communities for workers who needed a place to work and feel more independent, yet not feel isolated. Today, they are hubs that attract larger groups, startups and agencies.
Fostering Collaboration and Innovation
With coworking spaces comes easier access to deep collaboration and innovation. Compared to some areas with heavy distractions, such as coffee shops or malls, a coworking environment can provide a flexible and convenient work environment that encourages more intimate forms of productivity with others. Coworking spaces can also be ideal environments for networking with other professionals and entrepreneurs looking to spark that next big idea.
Creating a Personal Environment
Members of coworking spaces can easily curate an environment that suits their work and lifestyle. A coworking space membership can typically include: a private desk arrangement (depending on membership level), high-speed internet (wired or WiFi), locker space, free coffee/tea and kitchen facilities, and conference rooms for meetings. It is no longer just about buying a desk, but having an immersive and social experience. Some coworking spaces also provide a more environmental approach to working, such as OurSpace, whose staff help provide personalized amenities and green decorations scattered throughout the office to help workers feel more connected to nature.
Improving work-Life Balance
Coworking spaces allow significant improvements to the work-life balance of workers by offering flexible services that allow them to focus on their work. Freedom to work at the house, or at a coworking space, gives variety to how a freelancer or contractor may conduct their work. Most modern co-working spaces are placing well being at work as a high priority, by including amenities such as yoga/running classes, healthy food, or products that can improve their lives.
