The future of coworking spaces
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Innovations in tech and architecture are here to change the face of hybrid work culture

May 19, 2023 03:09 pm | Updated May 20, 2023 12:52 pm IST

With the economy fluctuating, entrepreneurs are looking to transit from the traditional office environment and cut expenses by moving to coworking and shared office spaces.

The rise of coworking spaces is not just a result of the pandemic. Freelancers, digital nomad entrepreneurs, startups, and businesses of all sizes, were familiar with it even earlier.

One of the fastest-growing industries thanks to the consequences of the pandemic and the rise of hybrid work, coworking is only expected to grow. As of June 2022, over 28,000 co-working spaces had mushroomed around the world. In the U.S. alone, there are over 6,200. Whether it’s technology, design, or even reimagining how we view coworking spaces, there are many trends appearing on the horizon. We look at some of the trends doing the rounds in the world of coworking this year.

One of the latest developments in coworking is the changing nature of shared office spaces, which are evolving from simply being a space to being understood as a service. Coworking-as-a-Service (CaaS) means offering not only a space but a suite of other benefits that users have come to expect. Some of these benefits include 24-hour keycard access, mentorship building, and venture capital access, to name a few. Many of the trends in this list build upon this innovation.

While early coworking spaces required staffing and offered limited hours, access cards and NFC phone-enabled systems now allow 24-hour spaces to exist without staffing. For example, it’s no longer sufficient to simply provide a workspace for freelancers. Coworking spaces, the people who use them, and their utility has evolved, urging users and teams to now demand services in addition to a workspace.

Further, digital technologies enable space monitoring in case of any problems and can fully automate meeting room reservations. Utilising automated invoicing services can also reduce staffing needs. This means that coworking spaces will become further streamlined as they adopt more technology, which is why tech adoption is invariably at the forefront of every operator in 2023.

From a broader perspective, technology has become an integral part of the modern workplace. So, what are the areas where technology is playing a crucial role? The answer would be ‘everywhere’. From customer management software to virtual meetings to the key cards that allow individuals to access different segments of the workplace, technology is present at every nook and corner of today’s workplace. Increasing technological adoption is also expected to accelerate as a coworking trend. Technology enhances coworking spaces by making them much more powerful and efficient spaces.

Over the years with the use of advanced and cutting-edge technologies, the co-working segment has witnessed a more organised and streamlined work environment. Personalising the pricing, according to the needs of a client is a very innovative idea embraced by coworking players. One can create small packages for different needs. This is a great way to reach out to more clients and brand your coworking space as a place of innovative solutions. One more interesting innovation is that nowadays a lot of coworking spaces are using virtual reality to enhance and simplify the working process. Today, businesses, despite their size, have adopted technology on a larger scale.

Another upcoming trend in coworking spaces is their continued innovation. In San Francisco, office buildings are at about 40% of their pre-pandemic occupancy.

This occupancy issue is prevalent across the world, which means that there are abundant opportunities for coworking spaces to step in and transform these derelict office spaces. Besides seizing this opportunity to entice workers back to the office, coworking office spaces will remain as some of the most innovative and well-designed architectural spaces. These innovations will blend open-space concepts, with private meeting suites and phone spaces while locating workers in the downtown core of cities.

Design can foster creativity and productivity in a coworking space. It is a great idea to divide up coworking spaces with a combination of single and shared desks. Consider creating open but private alcoves where people can go to focus on days when they need to. Having ‘we’ spaces can also provide people with areas to connect and ideate together. Coworking spaces are no longer casual office spaces provided in office buildings; instead, they are quickly growing to be the premier location for workers to congregate.

In the post-pandemic landscape, coworking spaces are poised to become increasingly valuable as they continue to evolve, meeting the needs of hybrid teams and entrepreneurs on a global level.

Where work flows
Coworking space is in high demand as the remote workforce and academic learners look for the ideal spot to boost their productivity. Some individuals find it easier to get work done and find more motivation when using a shared space. This is often because of the atmosphere created by seeing other productive individuals and it may feel more professional than conducting work at home. Essentially, the workflow can be positively impacted by the right design. Consider incorporating varied architecture, design, plants, social spaces, and food services to cater to the needs of those looking for a productive space.

The writer is Director, RPS Group.

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