Coworking spaces are no longer a novelty in big cities, rather they are becoming increasingly popular. According to a recent survey conducted by HubbleHQ, up to 86% of people would like to swap their offices for a different workplace at least once a week.
The same survey shows that while working from home is still the most popular option, 42% of people consider coworking the most ‘optimal’ workplace. The mounting popularity of coworking spaces is in large part driven by changes in work culture.
Technological advances and the modernisation of the corporate environment make flexible or remote working arrangements more common for employers. Therefore, it is not uncommon for employees to work for companies that don’t have on-site offices, leading for employees to search for new working spaces where they can feel productive.
Coworking spaces are no longer limited to freelancers. Rather they are a place where a diverse set of people and firms can meet including corporate teams, established companies, start-ups, and individuals from different industries.
This allows for a true melting pot of ideas and networking to thrive within these contemporary offices. To demonstrate the benefits of coworking spaces, we will compile a list highlighting the key perks of contemporary workspaces.
Networking and Community
After the COVID-19 pandemic, a loneliness epidemic followed. According to a study published in the journal Health Policy between 2016 and the end of 2020 the percentage of people in Europe who feel lonely has almost doubled.
This includes the Czech Republic, where loneliness rates have gone up by about 10%. Furthermore, in a published by the HRDirector, it was found that those who work from home find it harder to build and sustain social connections, and in general feel lonelier.
Therefore, coworking spaces, which are built upon the principle of community provide a slew of benefits. They provide the opportunity to network and build friendships with people you wouldn’t have met otherwise.
Whether this is at the coffee machine, breakfast or a yoga class, all offered within the coworking space. Even if you are more of an introvert, all social events are optional, and you are not forced to know each other. This contrasts with traditional workspaces, where you may be “forced” to get to know each other.
Not only are there a wide variety of firms which offer coworking spaces, but they also offer different membership options catering to your needs. Do you need an office for a day, a week or a permanent contract?
All that can be arranged. Companies such as WorkLounge, WeWork or smaller independent coworking spaces offer different options to serve different needs. If you want to see whether coworking is for you, you can simply try it out for a day and see whether a private office, hot desk, or others serve your needs.
Another practical advantage of coworking spaces is the amount of bang you get for your buck. Real estate is often one of the primary constraints for budding entrepreneurs. This is simply because traditional office spaces are to expensive, especially for entrepreneurs and freelancers with limited resources.
Moreover, landowners who rent out office spaces often require multi-year leases with several-year commitments being expected. This is especially risky for new entrepreneurs who should be aware of the risk that comes with new ventures. With coworking spaces, you are spared many of these risks.
It also limits unnecessary external costs associated with traditional office spaces, such as coffee machines, cleaning and other amenities. Other advantages are the inclusion of services such as electricity, parcel reception and more. If you are looking for cost-effective workplace solutions, then coworking spaces are what you want.
Disadvantages of Coworking Spaces
Nevertheless, coworking spaces are not for everyone and come with their fair share of disadvantages which are important to mention. This is especially true if you are content and productive to work from home. These disadvantages are numerous.
You can miss out on important ongoings at the office, potentially impacting your career. Furthermore, you miss out on company culture. Coworking spaces are also often noisy and crowded, and many find it difficult to be productive with so many distractions around them.
You also must rely on yourself rather than a boss to get work done which can also impact productivity. Finally, like everything else, the initial excitement that comes with working in coworking spaces fade away, and it may start to feel monotonous.