New co-living and coworking solutions are on the rise as working professionals search for flexible working arrangements and locations. The perks of these communal hubs are proving to be manifold. Having a network of shared resources and experiences helps to establish a sense of community and ultimately boost productivity.
In Deskmag’s 2021 survey, 55% chose a coworking space to build a sense of community around themselves. While GCUC’s findings showed, 84% of coworkers were more motivated working in a coworking hub. Other responses showed that 69% thought they obtained new skills and 68% say their existing skills have improved since joining a coworking office space.
What is coworking?
Coworking is a form of work arrangement in which employees, typically from different companies, share an office space to work independently or in groups on various projects.
It allows flexibility as companies do not need to sign a long-term lease in a coworking space. Aside from saving money on rent, this setup also provides businesses convenience by utilizing shared infrastructures such as equipment, utilities, and other resources like WIFI, printers, or a conference room.
Who works in coworking spaces?
Coworking spaces may be used by a wide range of employees from various sectors, but they are especially popular among startups and freelancers, and those who travel frequently or whose work requires them to be always mobile. From independent contractors, digital nomads, and remote workers to small businesses, enterprises, and non-profits, coworking spaces provide these employees and organizations with a sense of community free from social isolation while saving them money.
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4 Ways Through Which Coworking Boosts Productivity
Coworking spaces consist of creative and innovative individuals like freelancers, entrepreneurs, and startups. This collaborative environment allows members to brainstorm, share experiences, give advice and empower each other. A recent analysis found that 84% of coworkers feel motivated and engaged as a consequence. With over 5 million coworkers worldwide, this seamless flow of ideas allows professionals to obtain invaluable knowledge and inspiration that boosts productivity.
This leads us to the power of networking. Coworking hubs provide a host of opportunities for individuals to network better, including events that help build connections between members by uniting people with various skill sets. This can lead to opportunities for outsourcing specific elements of projects and more productive time management. A survey by Smallbiz shows that 82% of respondents have expanded their professional network since joining a coworking office space.
Happy employees equal more productive employees. Studies show that between 75% and 90% of coworkers love the personal connections that coworking makes possible. They feel more engaged and motivated to work and feel less lonely and isolated. This sense of belonging leads to improved employee focus and coworking. For example, productivity statistics found that 64% of people sharing an office have improved in completing their tasks on time, while 68% say they are better focused.
Improved Work/Life Balance
Maintaining a healthy work/life balance from home can be tricky. Coworking spaces allow members to keep their personal and professional lives separate. Coworkers can focus in an environment that is flexible, social, and conducive to productivity. Of those surveyed, 60% claim they are more relaxed when they get home and have an improved overall work/life balance.
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Coworking spaces are proving that a well-designed work environment, along with a well-curated work experience, can significantly boost productivity. The emergence of community in these spaces helps individuals stay motivated while sharing a collaborative mentality focused on long-term success.
Understanding the benefits of a coworking setup and who benefits the most from these coworking spaces enables you to determine if this work arrangement is right for you and your organization.