6 Trends that will Make Co-Working Spaces Even Better in 2021

The global pandemic has caused many businesses to re-evaluate their position and offering. Co-working spaces are no different. The fast changing needs of knowledge workers calls for some re-imagining and re-alignment of shared workspace models.

Physical co-working spaces disrupted our idea of office work back in 2005 – that’s when Brad Neuberg launched his ‘coding in paradise’ idea. The perfect solution to freeing oneself from the clutches of a traditional 9-5 office and combatting the loneliness of working from home, slowly caught on. Since then, the industry that grew from Brad’s innovation has never looked back. Until, that is, a global pandemic wrought unexpected changes on businesses everywhere.

CAPTION: Co-Workspaces will evolve to become even more valuable to business post COVID-19 (Photo by Mika Baumeister on Unsplash)

The workspace sector was one of the first to be adversely affected by ‘stay at home’ and ‘lock down’ orders that swept the world. As vaccines get distributed and people once again venture out without fear, the workspace industry will be looking at ways to come back stronger than before.

The massive disruption to businesses everywhere poses a simultaneous threat and opportunity to co-working spaces. On one hand, corporates have realised the benefits of a distributed, WFH workforce. On the other, some employees can’t wait to return to their offices for the comradery or just to get a little peace. These factors, and our changing expectations for working with colleagues, will necessitate definitive modifications to the workspace model. These six trends will make co-working spaces even better in 2021.

Flexible spaces and hybrid work arrangements

Post-pandemic, the workspace sector will need to accommodate what their occupants want rather than what the co-working space prefers. Like any other business, they will need to adapt and deliver for their customer’s desires.

Co-working spaces will need to be flexible with space and time. Safe, tech-enabled workspaces that support occupants needs will begin to be charged at hourly rates rather than daily or weekly. This adaption will meet customer demands and can co-working space owners bottom lines.

Estate agents and landlords with big spaces will need to consider hybrid arrangements. Large spaces will need to be modified to support several smaller businesses as larger corporates move to ‘hub-and-spoke’ office models.

The fall of the Multi-Storied office

Large multi-storied offices accommodating thousands of workers will be less attractive. The focus on air-quality and transmission of viruses (COVID-19 or others) has put greater emphasis on the risks of large numbers congregating indoors. This is pushing businesses to consider alternatives such as hybrid work arrangements and decentralised working places – what is commonly referred to as a ‘hub-and-spoke’ model.

This decentralised workplace arrangement essentially requires more and smaller offices so fewer employees descend upon the same location each day. Instead, a central office can be maintained and supported by a number of smaller satellite offices spread throughout a city – or even across cities.

The new style of office will be a network of smaller, safety-conscious spaces that equally benefit employees and the business by reducing commute times, overheads, and increasing productivity.

The rise of Technology

The regular working model has been changed forever by the pandemic. Office workers must now think beyond the office. Next generation collaboration tools and other technology that ensures a seamless and personalised experience for employees will be a huge consideration.

Tech-enabled workspaces that seamlessly pull disparate working environments together – office, co-workspace and WFH – will be in demand. Automation, mobility, AI and the Internet of Things will allow employees to remain connected regardless of where they are physically.

Workplace Wellbeing

Health and wellbeing will see renewed interest from workers and employers. Both physical and mental health will be a bigger priority than ever before.

Health and wellbeing measures from comfort through great design to better ventilation for clean air and less pollution from off-gassing of furnishings indoors will be on people’s minds. Co-workspaces that respond to these needs proactively will put themselves ahead of the competition.

A switch to Coworking and FlexSpace

As large corporations grappled with the problem that COVID posed, the benefits – and sheer value – of leasing smaller spaces that are maintained with all amenities and facilities taken care of, became apparent. Solutions that appeared to promote collaboration were sought out. While co-workspaces has once been disregarded by larger corporations, they suddenly became the answer that was needed.

Co-working spaces can be an attractive option for larger corporations – with some slight modifications they can be the ‘plug-and-play’ solution that saves business costs and boosts employee productivity.

Market Unification

As corporate businesses and other knowledge workers look for alternative workspace options, workspace solutions that bring multiple systems and services together will gain the interest of customers. Workspace aggregators will have a key role in supporting flexible access, tech-enabled and cost-efficient office space.

Some real-estate investors with available funds will aim to invest in or buy out smaller workspace aggregators to take their slice of the ‘new normal’. Others will look for opportunities for close collaboration or even investment in co-workspace businesses who need capital for expansion.

The coming year is an exciting time for the co-workspace industry. Those willing to innovate and align themselves with the changing needs of the market and demands of the ‘new normal’ will position themselves for excellent growth over the coming years.