The modern workforce, increasingly made up of freelancers, entrepreneurs and millennials, has different workplace expectations and values. Advances in technology have changed the future of work and when combined with the increase in untethered employees, a market for shared work spaces around the world has been created.
Pointing to this rise in nomadic employees, The Bureau of Labor Statistics estimates that by 2020, about 65 million Americans will be freelance employees, temps, independent contractors and solopreneurs — making up about 40 percent of the workforce. And since 2010, the number of people working in Coworking spaces worldwide has grown from only 21,000 to around 510,000 in 2015. As the future of work continues to change, Coworking spaces will become increasingly important and vital. And for good reason: Coworking spaces drive efficiency for their members, so clients can worry about what really matters — their own work.
One way that Coworking spaces are driving efficiency is by reducing costs. Instead of opening a second office space in a premium location, companies now have a cost-effective way to establish a presence in prime cities or areas. Rather than having to rent an entire office, companies or single entrepreneurs are able to rent offices or flexible space (desks) per person at shared workspaces. Another way that Coworking spaces can help bring the cost of running a business down is by consolidating its services into a single package. Consolidating services like office maintenance, cleaning, utilities and wi-fi into a single, one-stop package, allows Coworking spaces to provide a cheaper, hassle-free way for members to pay for the numerous services they are provided.
The Coworking space operator also provides flexible terms to renters, allowing clients to move in and out and upgrade or downgrade without a lot of notice. Coworking spaces allow companies to focus overheard costs on company growth and things that really matter to them.
Another way that Coworking spaces drive efficiency is by optimizing office management. Instead of hiring an office manager, Coworking spaces are providing a lot of the same benefits that an office manager once did.
From member management to booking various clients, to managing invoices and other payments, new management software, like Greetly and HappyDesk, has made managing a Coworking space easier than ever before and Cowering members reap the benefits. CRM solutions for Coworking spaces include features like automated billing, business report generation, meeting space booking, email newsletter functionality and printer connectivity support that optimize office management.
In fact, some Coworking spaces also offer training rooms, media labs, dark rooms and other member benefits, allowing clients access to expensive equipment that they would not have been afforded otherwise. Coworking spaces tend to reduce the amount of unused space on site and offer a variety of spaces — conference rooms, closed office spaces, open desk areas and learning labs — that are all aimed at increasing member productivity.
Easy Access to Networking
Additionally, another way that Coworking spaces are driving efficiency is by affording their members easy access to networking and making it easier to do so than ever before. In a Coworking environment, the ability to network is constant and on-going. Instead of having to seek out opportunities away from the office, members of Coworking spaces are able to rub elbows with other people at the coffee bar, and many Coworking spaces have beer and wine on hand for easy happy hour opportunities. Coworking spaces also frequently host meet-ups, events and classes that all encourage networking and collaboration. As a matter of fact, networking in the Coworking space can even lead to collaboration with fellow Coworkers and work trade agreements.
In the end, it is obvious that the future of work is changing drastically and Coworking spaces are a sizable part of the future. Coworking spaces are driving efficiency for their members and are improving the future of work as a result. The optimized efficiency that the Coworking industry bought about has led to reduced costs as well as improvements in office management. Coworking spaces increase your company’s profit margin by reducing the costs of running your business and maintaining and managing its success.
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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.