The benefits of coworking are aplenty. From lower costs to greater networking opportunities and plenty of improvements to innovation and productivity, these spaces enable over a million workers around the globe to work smarter, rather than harder.
There’s nothing wrong with hard work – but it’s easy to argue that there’s plenty of that going around as is.
As mounting evidence shows that stress at the workplace and a lack of healthy balance is contributing to worker burnout and rising levels of depression and anxiety, we must do more to help keep workers and freelancers healthy.
The Benefits of Coworking
It’s only when we’re healthy that we can work productively.
As such, the benefits of coworking extend past the bottom line and toward critical issues, such as worker crunch and the mental effects of a monotonous and oppressive office atmosphere.
Combating the Negative Side Effects of Telecommuting
While telecommuting allows many to take better advantage of the time usually spent physically relocating to an office, showing up to work and being around other people is important.
- It can boost productivity and creativity, in the right environment
- Spending your working hours entirely alone isn’t always healthy
Loneliness is a crushing problem affecting millions of Americans, and despite being more digitally connected than ever, we’re spreading ever further apart. Coming together in a collective space to share ideas and work together can be very healthy and productive.
The benefits of coworking spaces is that they enable more people to do just this, often with better commutes and a greater variety of options on where to work, and when to work. There is more flexibility and freedom.
Cheaper Overhead, Simpler Costs
Perhaps the greatest benefit at a glance is the lower overall costs, and the much lower time investment.
Startups with few resources as is now have the opportunity to seek out a premium office space at a monthly cost, without the hassle of finding the right space to lease out for a year or more, not to mention the costs of getting everything up and running with the proper equipment.
The overhead for setting up an office can be immense – yet there’s little reason to do so when there are more benefits to be enjoyed from working through a coworking space, especially in the first few months.
The flexibility of being able to renew a membership every month also removes the sense of commitment that comes with signing a lease. This gives startups the ability to change their mind at any moment and invest in a space of their own when they feel the time and money to do so is available.
Something for Everyone
A common criticism among first-time purveyors of the idea of coworking is the fact that, at first sight, it’s an incredibly chaotic environment.
The lack of personal space in the classical sense, and the lack of the ‘box’ by the oppressive cubicles of old, seems to inspire the fear that anyone willing to give it a chance is going to find loud noise and chaos.
Yet this isn’t true of most flexible spaces, including The Collection. While some are overcrowded and underequipped, good spaces are limited in the amount of space they provide. Therefore, it is not an issue for workers or freelancers to find a spot they feel comfortable in.
Many spaces set aside a portion of their space specifically for areas of silence, where those bothered by the noise and the networking can retreat temporarily to do the bulk of their creative work, before returning to the ‘overworld’ to socialize, network, soak up fresh ideas, or just take a quick break before attending to the next task.
For example, our monthly offices are private offices, giving everyone in our office rental space their privacy, while only paying for monthly terms.
It’s important to remember that it tries to address the fact that many people work differently. Work styles don’t evolve per generation, but per person – some enjoy working in the small hours of the morning, before dawn, in a space entirely their own, with no noise to distract them save for the tapping of their own fingers.
Paid Networking
One of the primary benefits of coworking is the melding of ideas – and in a sense, it’s worth it to come back to that, and explore the benefits of networking with professionals in entirely different fields, despite the superficial lack of overlap.
As our ideas for the working conditions of the future continue to evolve in the face of ever-more sophisticated automation and machine learning, and the eventual reality of AI in the workplace, we must realize that career fluidity often trumps specialization.
The worker of the future will have to educate themselves on more than a single kind of work, especially when trying to develop products to sell and market. Shared workspace enables a unique form of socialization that benefits:
- Writers
- Coders
- Accountants
- Artists
- Marketers
- Executives
Of course, that might not be everyone’s cup of tea. Creatives often struggle to work out of a traditional office but still need a healthy separation between home and work – and these spaces market themselves as the perfect place for individuals to seek a place of productivity.
A Rapidly Growing Industry
There’s no doubt that this trend will continue to thrive in developing and developed countries alike, as it becomes more expensive and more time-consuming to move workers to dedicated office spaces.
For startups, satellite offices, freelancers, and established companies alike, coworking will continue to play a role as a place for the free exchange of ideas, a melting pot of work styles, and a hub for creativity and productivity to flourish as everyone seeks their own ideal space.
Recent stats report that the number of people working in flexible spaces is expected to rise to 3.8 million in 2020, up from under half that (1.6 million) in 2017.
More spaces will be built to accommodate the expected growth, and although the traditional office model won’t go anywhere anytime soon, it’s not expected to come out unscathed – there’s plenty to learn from the benefits of coworking, even in regular offices.
Common Questions
What is Coworking?
Coworking can mean a couple different things; from renting one flexible space with individuals in a coffee-shop type setting, to renting furnished offices with other businesses monthly. It is a shared space where others come together in one location to work on their individual needs and projects.
What are the Benefits of Shared Space?
It can boost productivity and creativity, along with flexibility and freedom. It also provides cheaper overhead and simpler costs to businesses while promoting networking opportunities.
How Popular is Coworking?
Shared office space is an increasing trend, especially for startups, satellite offices, freelancers and established companies. The number of people working in such offices is expected to rise to 3.8 million in 2020 (from 1.6 million in 2017).
