Coworking – Is it a Fad or the Future? Coworking spaces have grown at an astounding rate of 200% over the past five years, with the number of coworking members estimated to rise to over 5 million by 2022. Now, before we start a debate on whether Coworking is merely a fad or not, we need to dive a little deeper into the latest career options today’s generation is choosing, given if there is work. You create a workplace and the nature of work directly affects the kind of workspace that an individual would choose. Today we live in a very technology-driven world, and with the advancement in technology come this whole lot of new-age innovative career options and choices. Ten years back, career in Digital Marketing or Web development was unheard of, expertise like Data Analysts or 3D Developers sounded gibberish, but today with the growing technology, these new age careers are groundbreaking and we are not stopping at it, given technology is here to stay and more power to it. With these unique career paths, entrepreneurs are getting more and more inclined to work on a very individualistic basis where their thoughts can flow freely and there are no deadlines or external influences to interrupt in the way towards achieving their goals. So, when it comes to innovation, the process is very individualistic and personal, dream or ambition is never a group activity, its conceived singularly and individually in the mind, and this is probably one of the greatest reason why today’s generation and upcoming entrepreneurs are choosing to freelance over a fixed job. Now that we have discussed the new age work choices, it’s time to discuss the workplace, or should we say the new age Workspace- with new age work choices comes new age workspace choices. And the answer is Co-working, yes you heard it right! Co-working is the new age workspace trend. Entrepreneurs, freelancers, contractors, lawyers and a whole lot of independent thinkers are choosing Coworking spaces over home offices and coffee shops for a range of reasons, including the productive atmosphere, affordable rates, excellent Coworking software and good networking opportunities. But despite their increase in popularity, there is still a widely held view that coworking spaces are simply a fad, and this way of working will not stand the test of time. Conventional thinkers are skeptical on the long term stability of such setup, probably because for a long time the norm of an office setup is 9-5 structure, organized and foolproof and anything beyond, that talks of flexible working hours might not be convincing to them. And that is the very reason, many might be tempted to believe that it is merely a fad. However, fad or not, Coworking is here to stay for a long time. Below we are going to discuss specifically why Coworking is indeed the future of workspace solutions?
- Freedom to Choose – Co-working spaces offer customized workspaces under one roof. Unlike conventional office spaces, in Coworking spaces you have the freedom to choose a workstation or a private cabin, based on your nature of work and preference.
- Pay as Per Usage – This is another feature where you are not liable to owning or renting an entire office and being bound to pay even when you are not availing half of the space in the office. In Coworking, you can pay per seat. If you have only two employees to work with, there is no need to rent out a whole office. Pay only for the number of seats you decide on. Likewise with other utility bills and costs.
- Networking and Team Building – This is one of the major benefits of being part a of a Coworking setup. You get to meet new people and share ideas, which might prove beneficial down the road for you. Since Coworking is a modern concept, its only natural that you are going to meet a whole lot of modern thinkers and innovators which might help and prove beneficial to you in extending your business and widen up your horizons. A short chat over a cup of coffee might open up a whole new world of possibilities for you, or you might be able to see a situation in a totally different perspective when you get to meet up with your fellow occupants.
So, Coworking is a concept that is not going out of style anytime soon. In fact, it’s the new normal of today, ditching the age old concept of a conventional office. Coworking is a revolutionary new age working style. The new and upcoming entrepreneurs and independent thinkers are opting for, in this day and age, where the economic scenario is changing every minute and the property rates are sky rocketing. It will be quite unfair to kind of owning any space or committing long term into any fixed assets, so, the only answer or solution to the corporate work space need is Coworking, where you can get in and get out as per agreed terms and conditions and again get back working in a bigger and better workspace based on your changing needs without worrying about the fluctuating property markets given you don’t own it. So you continue to have your cake, and keep it too. Fad or Future, you decide!