In 2015, there were 7,800 coworking spaces around the world, though after COVID-19, the demand for such coworking spaces increased rapidly.
The Confederation of Indian Industry predicted that the coworking space industry would grow to USD 13.35 billion by 2025. It also indicated that it would have a CAGR of 11.31%.
Many such organizations worldwide have predicted a great future for coworking spaces. These are the reasons behind it.
Top 7 reasons coworking spaces have gained importance
Most of us were introduced to coworking spaces during the pandemic years. In 2021, people started using these spaces instead of traditional offices because of the work-from-home situation. Later, it became more than just an office space. It became the hub of productivity.
People prefer coworking spaces more than traditional office spaces. There are plenty of reasons behind it. Let’s explore them one by one.
- The job control
Coworking spaces or shared office spaces give freedom to the employees. It is the kind of freedom that was focused more on their mental peace. With the coworking spaces, employees decide how they want to work. They can decide if they want to stay late or finish their work early and give time to themselves.
This control over their job timings allows them to be more relaxed. The stress decreases and helps in increasing their productivity. One of the surveys proves that coworking spaces make the employees believe they have more control over their work.
The environment of the shared office spaces helps employees to be more productive. Companies like Deskmag and Deskwanted surveyed their employees for their workplace preferences. The result said that 74% of the employees preferred coworking spaces, which helped them be more productive.
Research has proved that the environment of a working place affects people’s productivity. Employees spend most of their time in cubicles with the monotonous office design. The coworking spaces are designed to relax people’s minds and increase productivity.
- They feel meaningful
Many companies surveyed their employees to understand the pros and cons of the work-from-home system. Most of them said that the employees feel their work has become more meaningful in the coworking spaces. There are many reasons behind this.
In coworking spaces, employees feel less involved in internal politics. Instead, they are surrounded by people working in different fields. Everyone focuses on their work rather than meddling in others. There’s a helping culture in coworking spaces that helps build deeper relations. They create a community with meaningful work experience.
- Better connections
As mentioned earlier, coworking spaces encourage social interaction with people from different fields and backgrounds. Some employees could be working for months, and some could be exploring the adventures of traveling with their work. There can be some freelancing their work, and some can use the space to gather a team for their start-up.
People with different goals connect through a shared workspace. They interact and help each other achieve their goals. There’s a sense of respect for the other employee. It creates a healthy work environment that encourages productivity.
The Coworking Manifesto is an online document signed by over 1,700 coworking spaces. It said that the primary goal of every coworking space is to be a source for collaborations, community building, learning, and providing sustainability to each member.
The environment of coworking spaces encourages creativity. Many shared office spaces are designed to help people be more creative in their work. For example, some spaces provide private sitting arrangements with noise cancellation and great ambiance. This provides a healthy environment for people’s minds to think creatively.
These spaces provide everything their employees need. They provide beverages, food, tools, specially designed cabins, and desks. Some spaces provide swings and other fun activities to entertain the employees and keep their minds fresh.
Research has shown that coworking spaces help organizations and their people succeed. These spaces provide flexibility, a great ambiance, a helping culture, and a productive environment that helps them succeed. The people in the shared office spaces can concentrate fully on their tasks without distractions.
- Decrease in loneliness and depression
It is hard to keep a work-life balance. The coworking spaces helped people find the middle ground of balancing work and life. They can socialize while working and connect with people from different backgrounds.
The Harvard Business Review released a report that said 90% of people working in coworking spaces are happier than the traditional workspaces. It said that 83% of the people feel less lonely while working in coworking spaces. This has made people believe that they can live happily and achieve all their work goals.
- Coworking spaces have captured the eyes of employees and freelancers. The positive change in their performance made organizations realize the importance of shared office space.
- The community built in these spaces has great potential to create more productive and successful employees.
- Many research and surveys have shown that coworking spaces are the future of the work culture.
We hope you found this information useful. Write your valuable comments and let us know what you think.
Q1. Why are coworking spaces considered the future?
Answer: The coworking spaces are beneficial not only for the employees but also for the offices themselves as they cut down the cost of maintaining fixed office space.
Q2. What is the concept of coworking space?
Answer: It is a business service provision model that collaborates different people in a shared office space.
Q3. Who uses coworking spaces?
Answer: According to the reports, 41% of freelancers, 36% of employees, and 16% of employers use coworking spaces.