The Era of Coworking Spaces : Everything you need to know

Co-working spaces have been trending for quite some time now. Far from typical firm specific offices, co-working spaces utilize the open office layout to create a space that is an entirely different experience in itself. There are a lot of co-working facilities that have opened their doors in the past few years, inviting everyone from individuals, to startups to full blown corporations to utilize these spaces. Harvard business review’s research has pointed towards the merit of co working spaces. The research showed that employees performed and felt better working from a coworking space as opposed to a regular or home office. This certainly makes one curious as to what it is about co-working spaces that is making more and more people choose to set up their desks in such environments. 

Here is everything you need to know about co-working spaces and why they seem to be trending. 

WHAT EXACTLY ARE COWORKING SPACES?

The concept of co working promotes fluid work spaces, where even different firms, perhaps from every different industries can work out of a single setup. Co-working spaces are formed with an open office layout in mind. They usually have a good amount of open seating spaces, as well as a layout that is not as restrictive as a typical cabin/cubicle layout. The system of co working spaces is such that it is not owned and run solely by a firm or company. Instead, it works on a daily/weekly/monthly rental basis, wherein different companies, teams, or even individuals can rent a spot within the co-working space to use as an office.  Such a system works especially great for startups, or just about any individual who requires a space to work productively out of. 

Co-working spaces have become a trendy and sustainable pick. They are expected to grow exponentially in number over the next couple of years, as the demand for shared work spaces increases. Despite fears that covid 19 may pose a risk, it has actually been conducive to the growth of coworking spaces. People are embracing the co working culture, all across the globe and for all the right reasons. Here’s a look at exactly what makes them a good pick. 

AFFORDABILITY 

Co-working spaces are much more affordable than purchasing/renting out traditional office spaces. Be it a startup, a freelancer or a small business, Co working spaces give the opportunity to access and utilize an office space without having to be burdened by heavy costs or binding leases. Since co-working spaces simply rent out spots to individuals or groups, it serves the purpose of an effective and comfortable work space at the fraction of a cost. Also, since there is no strict boundation, one can even choose to rent out the space on certain days of the week or month as per requirement to save up on money yet have a space to work in for a change or even attend to clients and hold meetings. 

This is especially necessary since the pandemic set in.There is always an uncertainty as to when offices may have to shut down. In such a situation, people and companies often have to keep paying even when not using the space, whereas co-working spaces give the option to rent as needed and are also comparatively more affordable. As opposed to traditional office spaces, which are bound by the lease charge you rent whether you use the space or not, you pay for a co-working space only when you need it, proving to be a cost effective alternative.

GREATER FLEXIBILITY 

Co-working spaces offer a ton of flexibility to its members both in terms of the duration as well as location. In terms of duration, co-working spaces are extremely flexible. They do not necessarily have any bound contracts or leases that run over years. Instead, you can rent them out as and when you need. You can even modify the amount of space you need over time, to only pay for what you use. In terms of location, since there is no legal binding, if one wishes to work out of a different co working space, for a change of surroundings, for better amenities, or proximity to a certain place, co working spaces allow one to switch seamlessly from one place to the other without worrying about contracts or security deposits, making it a much more convenient option. 

BETTER NETWORKING 

In a conventional office space, one is surrounded by people working for the same firm, the same purpose and mostly even the same department. This may sometimes prove to be monotonous. Co-working spaces on the other hand offer an exciting opportunity in terms of networking as well as learning. Since there are a lot of different companies and people, from diverse backgrounds, the workspace becomes a rather interesting place. It gives one the opportunity to interact with and perhaps even learn something new from the people around them. Simultaneously, co-working spaces are great places to network and forge connections with people, perhaps even develop an opportunity to collaborate, making it a great choice especially for new professionals. 

OPEN DESIGN 

Co-working spaces mostly follow an open office layout. This means there are fewer barriers and divisions, rather a more cohesive space is developed. Even most cabins are built in a way to give privacy yet not be cut off from the rest of the office. This offers a fun and more collaborative environment to work in. Instead of being restricted to cubicles, people sitting in one palace and working together allows them to coordinate and communicate better, boosting productivity. Simultaneously, having an open layout gives an illusion of space and develops an arid environment much more comfortable to work in as compared to a compact cabin or cubicle, without being too expensive. Co-working spaces also do not typically have a corporate-like look to them. Instead most are developed to give a positive and comfortable working experience, rather than a rigid and extremely formal one, allowing people to be at ease as they work. 

DIVERSE SPACE OPTIONS 

Whether you are a part of a group of employees or working independently, co working spaces have a bunch of different options incorporated into one space. From seating setups tailored to individuals to workspace setups to accommodate groups of people, co-working spaces have it all. Such spaces also have extra cabins that are rented out or used on a sharing basis for when one needs to host a meeting or needs some privacy. This makes co-working spaces just as effective and useful as a regular office, without the added cost. 

REMOTE ACCESS 

One of the biggest advantages of co-working spaces is that they give remote access to proper workspaces. What this essentially means is that even if one is unable to relocate to another city to work for a particular firm, they can still do so without working from their home, giving the firm the option to hire someone on pure potential without worrying about logistics and vice versa. This is especially essential since the covid 19 pandemic has begun. People have to keep switching between their hometowns and the city they work in, which could prove to be an inconvenience. Instead, they can just rent a coworking space near them to work as opposed to working at home which may not be as productive or convenient for all, giving them a suitable alternative. It is also great for companies, as many have been looking to shut their heavy expensive offices post the pandemic. Rather they can have their employees spread over co-working spaces, reducing costs yet giving a positive work environment. 

PACKED WITH AMENITIES 

Co-working spaces are just packed with just the amenities one needs, both for professional purposes as well as recreational ones. In terms of professional purposes, co-working spaces have maintenance factored into their cost, meaning the office is well maintained by the staff and the cost is split amongst people renting, reducing the cost for each individual. Simultaneously services such as printers or conference rooms are usually on a pay per use basis, ultimately reducing costs incurred.

In terms of recreation or overall office facilities, co-working spaces have some sort of kitchen facility installed which can be used on a sharing basis. In some co-working spaces you might even find a bunch of recreational facilities. Since these work spaces are built for a comfortable and fluid experience, they often have some sort of facility to give one the chance to enjoy and unwind during breaks or at the end of a day, making the whole experience truly pleasant. 

Overall, co-working spaces are becoming a trendy pick and deservingly so. They are cost effective yet comfortable work spaces for one to work in regularly or occasionally, especially since working from home proves to be a struggle. They also encourage networking and collaboration allowing each individual to maximize their potential. Not to mention, they help in giving startups or small businesses a proper professional setup and address at the fraction of the cost, proving better for their work as well as their profile in front of their clients. All in all co-working spaces are in a way the future of working and will only continue to grow over time. 

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