Goodbye, cubicles: is co-working the future of workspaces?

With several companies announcing a mandatory return to the office for their employees, it might seem that the end of remote working might be looming on the horizon.

But the enduring impact of the pandemic is still evident, as employees now place a much greater emphasis on achieving a balance between their professional and personal lives.

This trend is creating tension in the relationship between employees and employers, as both parties are moving in opposing directions. While employers are concerned about overheads and maximising the use of their real estate, most people are not prepared to go back to old working models.

Co-working spaces could be the antidote to this predicament.

Shared office spaces have been projected to increase by $13.5B by 2025 – and they might replace traditional offices once and for all. But how?

As the perfect solution that comes with both flexibility and productivity, co-working spaces bring benefits to employers and employees alike.

For starters, co-wokring spaces come with amenity spaces, such as kitchens, breakout areas, fitness centres and meeting rooms. This allows individuals to work in a comfortable and collaborative environment – sometimes with extra perks - that also helps productivity. Additionally, shared workspaces are a great platform for individuals to meet like-minded people, allowing for the exchange of ideas and networking opportunities.

Likewise, businesses can reap rewards from co-working, starting from significantly lower costs. For example, companies that require a flexible workforce may find that co-working spaces are a cost-effective solution, as they only need to pay for the space that they use. This eliminates the need for costly leases or mortgages and allows businesses to operate in a more agile and efficient manner.

Given the benefits of co-working spaces, some businesses might even find worth considering converting their office buildings into shared workspaces. This not only provides a cost-effective solution for the company, but it also provides individuals with the flexibility to work in an environment that suits them best.

As the way we work continues to change, it is becoming increasingly apparent that a hybrid model that combines remote and in-person work, along with the flexibility of co-working spaces is a promising solution for the future. Is co-working the new rising star of the workforce?