Benefits Of Coworking Spaces | Advantages, Research & Statistics

working at coworking space

 

What are the benefits of using a coworking space? Below, we present you with research and statistics to help you decide if it's a good fit for your own work.

Advantages of Coworking

If you're self-employed, you might consider using a nearby coworking space. Alternatively, if you manage a company that employs remote workers, you could provide them with this kind of professional environment. Either way, coworking spaces give people ample and potentially valuable networking opportunities. People from different organizations or even different industries can mingle and share tips and ideas with one another.

Coworking spaces make people feel more socially connected as well, which can improve their moods and boost their energy levels, making them more productive overall. Some workers even feel that those places enhance their creativity. On top of that, employees in coworking spaces don't have to deal with the distractions that come with working at home. Those diversions include pets, television shows, snacks in the kitchen, phone calls, household chores, and the urge to take an afternoon nap on the couch.

Therefore, many people can focus more effectively in a coworking space, especially considering that everyone around them is hard at work. In fact, by offering such a space, you might find it easier to recruit talented people to join your company.

Not least, these facilities make plenty of financial sense. You don't have to sign a lease to use one. Plus, given rising real estate prices, to buy or rent an office of comparable value might be prohibitively expensive, and that's not even factoring in the furniture or the pieces of equipment that coworking spaces contain. You could take the money that a coworking space would save you and invest it in other ways. This approach would probably improve your business credit score as well.

In the end, how many professional services are capable of reducing costs while lifting employee morale and productivity at the same time? There probably aren't many of them, but a coworking space is definitely one.

co-working space

 

Coworking Research

Current research backs up the idea that coworking spaces are beneficial to companies of various sizes. For example, in a 2015 Harvard Business Review article, the workplace researchers Gretchen Spreitzer, Peter Bacevice, and Lyndon Garrett explained how they asked coworking space users to rate their degree of professional "thriving" on a scale of 1 to 7. The average answer that they received was almost 6, a high number to be sure (https://hbr.org/2015/05/why-people-thrive-in-coworking-spaces).

Other studies have reported similar results. Way back in late 2010, the online publication Deskmag published the first major, worldwide study to ever examine coworking opportunities. That survey of 661 professionals from two dozen nations discovered that 85 percent of people felt more motivated on the job when they utilized coworking spaces. In addition, 70 percent of participants said that they were "very happy" with those spaces; a mere 8 percent, meanwhile, were "disappointed" (http://www.deskmag.com/en/why-coworkers-like-their-coworking-spaces-162).

coworking office

 

Coworking Statistics

Research into the advantages of coworking spaces continues unabated. And, thanks to all of the studies that have already been conducted, we can present some especially exciting coworking statistics here. To start with, a coworking space can now reduce a small company's expenditures by a whopping 75 percent (http://www.inc.com/jeremy-goldman/6-reasons-why-2016-will-be-the-year-of-coworking.html).

Further, one of the most impressive coworking statistics 2015 brought us is that the number of these spaces throughout the world reached 7,800 (https://www.statista.com/topics/2999/coworking-spaces/). Naturally, that total could grow considerably during the next several years. Indeed, by 2018, there could be 37,000 coworking spaces in operation across the planet. When you consider that there were only three of these facilities in existence in 2005, not all that long ago, the growth of this concept is even more astonishing.

Conclusion

Due to the powerful benefits of coworking space, this type of professional environment has real staying power. Moreover, these spaces will probably evolve in numerous ways. For instance, you might start seeing larger coworking facilities. There could also be coworking spaces that hire concierges and provide rooms where people could sleep for a night or even longer (http://www.forbes.com/sites/falgunidesai/2016/03/10/coworking-spaces-poised-to-enter-new-growth-phase/#41756b594f41).

In short, the future is bright for coworking spaces, and they're sure to keep helping freelancers, remote employees, and other professionals meet new people and sharpen their skills for a long time to come.