As the workforce moves forward into 2021, coworking has emerged as the office real estate style, ideally positioned to capitalize on the new standard, providing businesses and workers with the option and flexibility they have come to expect in a still-uncertain world.
Companies and employees alike have discovered that remote working can be successful – to a degree – and that employees do not need to be physically present every day in a centralized office to be productive. At the same time, workers’ mental health has suffered as a result of current condition, with one survey revealing a 42 per cent rise in the number of employees suffering burnout and a 46 per cent decrease in work-life balance as work-from-home has become more common.
Work from Home to Work Near Home
An organization keeps a bigger central office in the city while opening one or smaller offices in the suburbs, providing workers with the advantages of a dedicated office environment closer to home. The coworking concept is spreading at a faster rate than expected by the experts in real estate industry.
Coworking spaces are the ideal solution since they provide businesses with various sites, versatile room options, and no operational or management headaches. Companies may collaborate with a single representative and streamline the process by partnering with a coworking space provider with several locations in a metro region.
Flexibility The Core Aspect
For years, long-term office leases have been the norm, as lenders who fund office projects have required developers to lock tenants into long-term leases to mitigate risk. However, in the new world of work, predictable cash flow will take a back seat to flexibility, especially in the short term, as businesses seek out space that allows their employees to benefit from in-person collaboration or a quiet, de-stressing environment.
According to a report, Coworking was seen as a core component of potential real estate strategies by 86 per cent of respondents. Even before the pandemic exacerbated the need for flexible offerings, many in the real estate industry saw coworking as a powerful option that should be integrated into strategies.
Making a Come-back to Normalcy
People have taken a toll as a result of our extended isolation from our everyday lives and interaction with coworkers and those outside of our homes, according to research. According to the Conference Board survey, the number of people reporting mental health issues has increased by 40%, while the number of people reporting high levels of personal well-being has decreased by 35%.
People will be excited to see one another, catch up, and discuss things in person once the COVID-19 vaccine is widely available. While Zoom and Teams are effective business tools, they are not designed to support the type of spontaneous conversations that foster camaraderie and culture – the interactions that contribute to true employee engagement. Again, coworking is a perfect option for people who crave social contact. In the shared kitchen room, people can not only talk with colleagues, but they can also make new friends or business contacts from another organization, or make weekend plans over coffee.
In 2021, we will all face challenges, but with the right approach, coworking providers will help the most of the tough hand we’ve all been dealt, not just by providing businesses with a viable, versatile alternative, but also by assisting workers in re-entering the workforce as smoothly as possible.
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