As the world moves faster towards the gig economy, the flexible shared spaces are gaining grounds. Large number of people are willing to work part-time or at temporary positions instead of being full time employees thus undermining the traditional work economy. This has also given the employers the advantage to hire talent from any corner of the world as proximity is no longer the hurdle. Coworking is thus one of the revolutionizing trends of 21st century and has marked the departure of workplace model based on conformity and adherence to office rules. Experts see coworking as a model which holds the potential to foster networking among solo entrepreneurs, travelling workers and freelancers with complementary skills to help each other grow.
A look back on Coworking Trends in 2018
Co-working and Grade-A office spaces were the two segments of Commercial Real Estate (CRE) which had seen a massive increase in demand in the first quarter of 2018. The first quarter (January-March, 2018) had witnessed a 23% increase in office spaces, where the absorption across India was recorded at 11.4 million square feet. To fulfill the ever-evolving and transforming needs of freelancers, startups and solo entrepreneurs, the demand for co-working has seen a massive upward trend. Witnessing the huge increase in demand for coworking spaces and an even higher rise of coworking space providers, the number of coworking members are expected to rise to 3.8 million by 2020 and 5.1 million by 2022.
Here are some of the megatrends predictions for coworking spaces in 2019
Technology Integration
2019 Coworking trends suggest that space providers will be focused more towards technological advancements within their work spaces. Providing access cards, automated visitor management system, automated invoices, tie trackers and coworking management software will help manage coworking spaces with least human interference and outgrow any hassles. Digital scheduling tools like Desktime and Cobot have been designed making sure that your desks are full and coworkers can use to find free desks.
There are similar other software and applications which offer self-service booking feature with invoice system automatically charging members based on their usage of space, equipment and other facilities. In fact Google Calendar and Doodle are great for scheduling meetings and events with random groups of people. Although they can’t be used for booking, they are top tools for scheduling. Another tool for community management and member communication at your coworking spaces which you can look up to is Slack. It comes handy when you need to keep people connected and in the know.
(Commercial real estate is feeling the intense impact of the digital transformation that is taking place over the past few years. )
Blockchain To Reach Coworking
Blockchain technology is touching almost every industry now. Originally developed for cryptocurrency management, now the technology has in fact stood out as promising factor for coworking with some coworking space providers already assimilating the process into their spaces. The technological integration has helped them with management of complex tasks like those of procurement, payments and managing agreements. As per a report by Deloitte, the primary benefit of blockchain will be witnessed towards property management and lease transactions using smart contract of blockchain.
Incorporation of Nature At Workspace
Employees spend over 40 hours each week at their workplace. Companies are now understanding the need to create healthier workplace for their employees for which one of the most preferred ways has been adding plants to the work place. It is a great way to filter indoor air pollution, reduce stress and maximise productivity. Simple potted indoor plants and moss walls will also make the work environment look lively. Also, organisations are understanding the concept and benefits of biophilic office design which have been already tapped in by Google and Amazon.
(Due to a shift towards urban living, the biophilic office design has become a growing focus for interior designers.)
Flexible Spaces
Most of the coworking service providers are expected to have multiple locations within a city. This will give the coworkers flexibility to opt for location as per their convenience. The case is common among frequent travelers or businessmen. Coworking spaces can alternatively work in cordination with other coworking space providers so as to let the coworker use the space for designated number of hours. The growing trend of flexibility centres around the perception of how office space is procured and utilized.
The upcoming year is expected to witness a dramatic rise in number of coworking spaces and its demand. This is a significant trend that is expected to continue for long as companies increasingly move towards a healthier and flexible work environment.
