How Are Coworking Spaces Evolving?
Coworking is continuing to grow in popularity. This flexible and sociable way of working has been growing apace over the last decade or so, but following the pandemic and the rise in remote and hybrid working, it’s bigger than ever.
Globally there are around 18,700 coworking spaces, but this is set to rise to 41,975 by the end of 2024 - this really puts the rapid rate of growth into context. To remain ahead of the curve, coworking spaces must continually adapt to the needs of workers.
The Top Coworking Trends of 2023 (to Date)
Whether it’s technological advancements or aesthetic changes, coworking spaces are constantly changing and updating. So we collected a list of 2023’s biggest trends so far and what we think will continue to happen as working patterns change.
With more and more demographics looking to branch into coworking, spaces are having to adapt to meet their demands. Whether it’s areas designed to accommodate technologically-driven industries, or facilities made to support wellness-focused organisations, workers are looking for coworking communities that make them feel welcome.
‘Pay-As-You-Go’ is Hugely Popular
There’s been a notable shift in the way people want to work in 2023, with flexibility being key. A global study by Fiverr (which included more than 2,000 members of ‘Gen Z’ in the UK) found that 71% of people from this demographic (16 to 26-year-olds) plan to freelance at some point in their career.
The demand for pay-as-you-go workspaces is soaring as a result. Having round-the-clock access to creative spaces is crucial for many workers and hotdesking is a great option for those who want to work at times that would have previously been deemed as unusual.
Access to Multiple Locations
Multi-location coworking networks are set to become the next big trend as they allow members to access multiple locations in a particular city or area.
Many workers are looking for a space that works around their schedule. So whether they’re near home, visiting family or travelling somewhere new, there is always a workspace available. We’ve previously discussed the burgeoning ‘Work Near Home’ trend. Having access to high-quality workspaces in the city and AND in popular suburbs is a huge bonus for the legions of workers who are putting more emphasis on work-life balance.
Coworking spaces are continuing to invest in green initiatives. More and more employees are expecting an increased emphasis on environmental issues - simply put, sustainability matters!
For years we’ve taken heritage buildings and brought them into the 21st century. Locations like Pall Mall in Manchester have been retrofitted as a way of reducing carbon emissions by up to 85% compared to a typical new build. Redeveloping Grade 2-listed buildings helps us meet our sustainability goals. All while providing an excellent blend of work and lifestyle spaces all in one location.
Wellbeing and Planned Events
Coworking offers workers the chance to connect with other professionals. The rise in home working following the pandemic made it difficult for employees to connect with like-minded professionals. And many workers miss the social aspect of working in traditional office spaces.
To combat this, many coworking spaces are providing workers with a fully rounded work-life experience. From fitness classes and changing facilities, to packed calendars filled with wellbeing events, coworking spaces are clearly becoming more community-focused.
Coworking spaces are continuing to grow in popularity. But instead of a space solely intended for people to work, they’re now social hubs where people can network, develop and enjoy excellent wellbeing facilities.