Co-working space is a millenial phenomenom in 21st century. The idea is relatively new when Brad Neuberg started a co-working space in 2005. As the number of freelancer and gig worker increasing, many co-working space sprung up, as freelancer looking for Flexibility & work-life balance.
Brad Neuberg started a co-working space to “find a way to combine the feeling of independence and freedom of working by himself with the community feel and structure of working with others”.
According to a Colliers International survey, by 2019, co-working spaces had tripled in size (from 2015) to account for 3.7 million square feet of commercial space in Singapore, powered by demand from multinational corporations (MNCs) and start-ups.
You’d think that after a pandemic that emptied workplaces around the world, co-working spaces would have died out entirely, but they’ve proven to be remarkably resilient.
Quoted from Mothership the occupancy numbers of co-working space have returned to 75-90 per cent of pre-Covid 19 levels. Further growth in the space is also expected as of 2021, according to Colliers, although growth has slowed as compared to before (only about three per cent this year).
So, what’s continuing to attract co-working space businesses ?
While the pandemic has undoubtedly been difficult for office owners and managers, it has also caused many businesses to reconsider what work entails.
Big corporate customers, including Fortune 500 firms, have been driving demand for “maximum versatility,” according to Brandon Chia, Vice President and Head of JustCo Indonesia and Singapore. JustCo has a total of 20 locations in Singapore, as well as locations in seven other Asian countries.
According to Elaine Kim, founder and CEO of Trehaus, a co-working space/nursery, workers have started to recognize the importance of flexi-work arrangements and the hybrid workplace. “People think more about work-life balance nowadays. Many MNCs are allowing employees to work flexibly, to accommodate to the needs of working parents and professionals, “said Kim.
For Flexibility and work-life balance Kim thinks co-working spaces might be the solution. WFH might work for most people, but not for parents with young children. Parents need to concentrate on work, with your kids looked after by a licensed caregiver a few feet away on co-working space. The beauty of co-working spaces is that it allows for that kind of flexibility.
In a lonely epidemic, co-working spaces have a “human touch,” a place where many inter-business relationships will flourish.
Clyde Andrade, Found8’s manager of sales and business growth, adds that the sense of community and engagement among community members means that there is always help available in the space when it is required.
A co-working space includes breakout rooms, collaboration areas, phone booths, a welcoming atmosphere, and, most importantly, a sense of community, in addition to the standard office amenities.
A hybrid Work
Co-working spaces are ideally placed to provide an alternative to companies that are uncertain about the future. They offer a hybrid workplace approach for companies who want to adapt to a more distributed workforce and access to more locations. As co-working space provide maximum Flexibility & work-life balance. for the purpose of workforce decentralisation.
Kim, who works as a doctor during the day and is also the CEO of Trehaus, said,”The new world is not about sitting in office from 9am-6pm and not getting to see your child anymore; this is the future of work for working parents and their families”.
Source : mothership.sg
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