Four Things Everyone Should Know About Coworking Spaces

September 19, 2019

workers in a coworking space

The increasing prevalence of the non-traditional office space is hard to ignore. For anyone who lives in a city, the presence of companies like WeWork or Regus should be well-known. Flexible shared office spaces — coworking spaces — are now a firmly established option for businesses and workers looking for an alternative work environment.

The Market for Shared Workspaces Is Growing at a Blistering Pace

Between 2016 and Q2 2018, the flexible workspace market grew by over 45 percent. That was an increase of over 27 million square feet of office space. The scale of growth for some markets is on another level; cities like Dallas, Boston and Seattle have seen amounts of coworking space double in the last 18 months.

Coworking Is Popular with the Tech Sector

While flexible workspaces account for only 1.1% of all workspace in all metropolitan areas, that percentage nearly doubles for markets with a large tech presence. The growth of the gig economy for high technology jobs is likely to be fueling this popularity.

 

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Flexibility Has Become More Important to Established Businesses

Businesses with permanent office space are using the increased availability of coworking environments to give their employees the ability to explore new areas. Studies have shown that among employees of larger companies, 1 in 7 utilize coworking space. Short-lived teams can utilize short-term leases in flexible workspaces to carry out their projects with more efficiency. Larger businesses also see coworking spaces as opportunities to access the start-up community, which tends to be a resource for new ideas and talent.

Most People Use Coworking Spaces Around One Day a Week

The benefits that workers get from a flexible workspace are less about the work environment and more about the simple access to an alternative work area. Research shows that people who use coworking spaces have higher levels of productivity, but those same people report using their coworking space between 0-20% percent of their work week.

With the public’s growing interest in coworking and shared offices, companies will need to find exhaustive solutions to their tenants’ complex office access needs. RemoteLock provides a secure, cloud-based approach to coworking space access control. Contact a representative to see if our solution is right for your shared office. 

 

Sources: Colliers, Gensler

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