In 2017, Coworking is becoming a more commonly accepted concept within the mainstream. Not just in the United States but in markets located across Europe and Asia. The business model of Coworking—different businesses sharing an office space through rented private offices, desk spaces, and communal working areas—has caught the attention of many. Upon doing so new changes in the industry have come to the forefront to meet increasing demands. 6 years ago there were only 1,000 of these spaces worldwide, now we’re witnessing a projected 37,000 spaces by 2018. Once considered to only be a cheaper alternative, Coworking is enhancing the working experience through the following trends in the workspace.
Here Are 5 Key Trends In The Workspace
One of the most-lauded advantages to working within a Coworking space is having an environment that is conducive and receptive toward collaboration. Keeping this in mind, spaces are being designed and and launched with areas that celebrate collaboration.
Beyond the physical space, online collaboration through the community features found in a Coworking management platform is becoming more commonplace to better connecting all members. The increase of creativity and innovation has brought about a higher demand for collaborative spaces.
Space as Service as a Revenue and Retention Generator
As the technology and the market changes, so does the way spaces make money. What doesn’t change however, is the need to pay rent and make good on multi-year leases. Since 2016, operators have been developing new models and finding ways to better sell their services.
Some of these solutions includes catering toward niche communities in Coworking as they tend to be more of the long-term clientele, creating new services by collaborating with local businesses located nearby, and catering to larger corporate businesses with options that are more flexible than traditional spaces.
New Technologies to Enhance the Member Experience
Integrated technologies and implementing cutting-edge solutions is the heart and soul of Coworking. WUN’s innovative software helps all. One of the reasons for this is that a study has shown that 41% of millennial workers would rather communicate electronically than face-to-face or by telephone.
It isn’t just having high-end data and internet, it’s also incorporating options for account management through the convenience of mobile.
One factor that improves the experience is by craft convenience for members is by allowing them to register, book, and pay services through the convenience of their phone. Making it easier for members to self-service their needs is a win-win for both member and operator acting as one of the key trends in the workspace.
There is a major issue with Coworking is the lack of adequate parking options for members. As it currently stands the average commute to a Coworking space in the United States is 18 minutes, as reported by Deskmag. To account for this Coworking spaces are beginning to offer free parking for members as well as racks for bicycles.
Operators of new spaces are also opening new facilities adjacent to lunch spots and recreational areas to account for this demand. This is one of the many trends in the workspace.
The idea is to make the Coworking space feel more like home, especially for those who have a hard time going to and from the workspace.
Big Companies Buying Into Coworking
Coworking grew through addressing the need for small and medium sized companies to share costs and network with other companies. However, large enterprises soon caught on to the benefits of working in a shared space.
Not only does working within a Coworking space offer corporations a more cost-effective alternative to test now and innovative ideas, it also offers them access to other small businesses as well as freelancers.
This has provided corporations with talent they can’t find anyplace else.
As demand for Coworking spaces continue to grow, operators will continue to find new practices to improve both the experience as well as the sustainability of their spaces. Six years ago no one would have predicted these trends to become the norm for what is Coworking today.
It’s interesting to see what will become the new trends in the workspace two to four years from now. For more information on transforming your workspace technology, please click the button below.
Yardi Kube is a coworking management platform delivering all the tools needed to grow a smart and connected workspace. The Kube platform enables your technology to work intellligently together from managing leads and monthly billing, to accounting, and on-demand Internet and Voice services. With all the hardware, software, and essentials for building a thriving workspace, Yardi Kube helps you increase revenue, maximize productivity, and build community.