The Evolution of Coworking Spaces Beyond The Startup Community

The emerging popularity into the coworking industry has no longer been portrayed as a new age workplace recommended for startups, but more so a space for a diverse businesses to explore and grow.

With the increase in companies craving the convenience of coworking spaces, Global Coworking Survey has uncovered that 61% of coworking space providers aim to expand their operations and 80% expected the number of members to increase in 2016.1  Surprisingly enough the demand for the coworking space has been catalysed by the growth of tech and creative industries as well as the changing nature of work.

Let’s be real, we all want to indulge into the perks of coworking so here are four methods that has been recommended by Jones Lang LaSalle to apply coworking into any organization. These four methods look beyond the interior and free flowing coffee but more of the networking and workshop events, as there is definitely no such thing as a one size fits all model within coworking. Claudia Murray, a researcher from the University of Reading UK and Eliane Monetti, a professor at the University of Sau Paulo’s Real Estate Research Group suggests that the use of careful implementation into the correct development strategies, will enable an industry to take its place into the centre stage of real estate and this is clearly the case for the popularity of the coworking industry.

Internal Collaboration

This type of innovation hub is exclusively created for employees that have their own office. Essentially, it provides greater flexibility and creative space to tailor any work setting. This model allows companies to signal to new employees their openness to change within the workplace.

Companies such as JLL in the UK use this model due to the desire to create a more agile space that increased density within floors yet anchored innovation and collaboration. JLL was able to fulfil their need by providing a choice of work settings as well as productivity. What makes this beneficial is its ability to accommodate fluctuations in workspace demand over time and increased flexibility.

Coworking Memberships

We all agree that the working culture has definitely changed, particularly within countries such as the Netherlands, UK, US and Australia. This shifting culture has magnified the fact that employees travel more, gain flexibility and seek to be in an environment that are like a ‘work club’ where you can hold a meeting and connect with people over coffee.

What makes this model so convenient is the ability for staff retention and attraction as well as its convenience in proximity to entrepreneurs and SMEs.

External Coworking Space

Another method used to when experimenting within the collaborative space is working with a specialist provider to create a dedicated external coworking area. This results into minimal disruption to the current space and improves innovation internally and externally.

Central Working in the UK produces a work ‘club’ whereby businesses and entrepreneurs connect within the same environment. This allows members to gain more human interactions to increase collaboration and support for growth.

Internal Coworking Space

We all know that it takes a lot of effort to form a start up and not everyone knows that it actually requires an application or interview process. By building relationships in this way, it can allow companies to mature and secure access to breakthrough technology and ideas.

Swire Properties Hong Kong is a highly diversified group of business spanning real estate, food chain and industrial. This fun and creative workplace incorporates remnants from the Swire Group in Unconventional displays. What makes this so convenient is its access to innovation and talent as well as its exchange of ideas.

By implementing one of these four options, the coworking industry will be able to grow and gain more dominance within Corporate Real Estate as well as aiding in the promotion of sustaining the success of startup and mature businesses.

                                                                                               

Footnotes
1.    Deskmag 2015
2.    Business Times 2017
3.    International Real Estate Markets 2018

Reference:
- Cheok, J. 2017, ‘Coworking spaces set to proliderate and become a real estate asset class’, Singapore, viewed 15 February 2018, <http://www.businesstimes.com.sg/real-estate/coworking-spaces-set-to-proliferate-and-become-a-real-estate-asset-class>.
- Jones Lang LaSalle 2018, A new era of coworking report, Indonesia
- Murray, C. 2018, ‘ Real Estate and urban development in South America’, Abingdon, New York, vol. 1, no. 1, pp. 3.