The movement towards coworking spaces has taken over the world by storm. With a distributed workforce, easily accessible modes of transport, and a major boom in the start-up economy; a robust and modern way of working is in demand. With the rise in costs of establishing and maintaining traditional offices and with the challenges in the lack of flexibility with leases, shared office spaces are seemingly more convenient.
Companies that have limited capital or require a workspace for short periods of time, benefit from coworking spaces, as they typically have month-to-month flexibility. What this movement is all about is that the traditional way of working is no longer the future, as millennials and even large companies are looking for more within their workspace. With their flexible lease options and location benefits, shared office spaces are serving the needs of young entrepreneurs, millennials, startups, and large firms who are testing new waters, as they expand across the world. For corporate, however, employee experience in the workplace is a vital factor. For attraction and retention of talent, a shift is taking place to make an office and work less mundane. Employee satisfaction and motivation is a key driving factor for corporate when they move into a coworking space.
More people want to work on the projects they’re passionate about in an energetic environment where others are all on the same page trying to do their best work to connect people through the design of the workplace in order to create a positive energy, an atmosphere that encourages people to feel part of a community; something larger than themselves because the space is essential to people’s everyday experience. It’s in the design of their stools and chairs, the lighting, the width of the hallways, the conference rooms – everything you see and everything you feel.
This feeling of community and working better together, along with lowered costs and lease flexibility is why co-working and shared office spaces are gaining traction around the world. It is anticipated that by 2020, co-working spaces will overtake the traditional office.