The Future of the Workplace has Arrived as a Coworking Franchise.
30 percent of U.S. knowledge workers are untethered from the corporate office, a number expected to be 60% by 2020. While employees say they want workplace flexibility 82% also say they would prefer not to work from home. Public accommodations, like hotel lobbies and coffee shops might suffice as a last resort when traveling, but they don’t offer privacy, security or service that professionals require. Meanwhile, companies are seeking to reduce long term obligations to conventional leases, which are now disclosed as debt, affecting a company’s cost of capital. Companies are also seeking to support the permanent shift to mobile work by reinventing headquarters spaces and using third party providers, to offer employees drop-in workplaces where workers can engage in collaboration, with meeting rooms and unassigned, open plan workspace.
The upsurge in workplace flexibility – and the need for alternatives to conventional long term leasing solutions – are due to a confluence of factors:
- Corporate demand for data security increasingly rules out public accommodations.
- The cultural shift to mobility and the sharing economy.
- More and more employees authorized to work outside the traditional headquarters.
- Ongoing pressure to reduce the cost and obligation of traditional office space.
These are just some of the factors contributing to a profusion of workplace alternatives…
Corporate Coworking News and Research
The impacts contemporary shared workplaces—such as co-working will have on traditional occupiers have yet to be seen. However, the growth and interest these models have garnered is not to be ignored. The uses for this type of space stretch far beyond the boundaries of entrepreneurs and startup companies and the benefits detailed throughout this report have real implications for even established global corporations. Accessing new markets, attracting and retaining talent and introducing innovation are just some of the use cases this space can have for large occupiers that may be used to employing traditional leases to meet their space needs.”
The coworking revolution is transforming real estate. Pioneered by start-ups, entrepreneurs and freelancers, a growing number of companies, large and small, are exploring how to incorporate the concept. Coworking and liquid or flexible space are fast becoming critical components of wider Corporate Real Estate (CRE) and portfolio strategy.”
As researchers who have, for years, studied how employees thrive, we were surprised to discover that people who belong to them report levels of thriving that approach an average of 6 on a 7-point scale. This is at least a point higher than the average for employees who do their jobs in regular offices, and something so unheard of that we had to look at the data again.”
Coworking spaces only comprise 0.7 percent of the total U.S. office market. Our forecast would move this to a bit less than 2% of the U.S. office market in 2020. We think it’s reasonable to believe coworking could be bigger than Starbucks. The rise in coworking spaces around the world have left more people yearning for work environments that are collaborative, inspiring, and stimulating.”