The coworking revolution is changing the way offices work by offering greater flexibility and more opportunity to work in different environments. Startup companies may have pioneered the co-working concept,, but now even major corporations are beginning to see the benefit of incorporating this kind of space into their office.
According to the 2017 Global Co-working Survey, in 2017 more than 1.1 million people worked at over 13,800 coworking spaces worldwide.
In 2016, Microsoft announced that staff in Atlanta, New York, Portland, and Philadelphia could work from WeWork locations and became a WeWork enterprise partner. Other major corporations such as Facebook and Starbucks have followed suit. A recent report from Recode showed that 25% of WeWork’s annual revenue comes from corporate or enterprise clients.
In fact, a survey by CBRE indicated that 44 percent of corporations are already using some form of flexible open platform office solution. Data from the study also found that corporations expect their usage and demand for flexible coworking space will continue to increase over the next few years.
How Coworking Spaces Benefit Corporations
A survey by the Harvard Business Review found that workers at coworking spots felt they could be their genuine selves in this type of environment. They found more meaning in their work and benefitted from having more autonomy and being part of a bigger community.
A second benefit is the “cool factor” it brings to the table. As the competition for top talent heats up, it is a way to attract the millennial worker. Having a co-working layer to the corporate environment can also draw a wide array of different types of workers.
A coworking desk study that was conducted in 2010 found that a desk in a coworking space is 50% less expensive than a desk in a traditional office. For corporations facing pressure to make more profit and cut down on expenses, coworking offers a great alternative.
Examples of Corporations Adopting a Coworking Model
PwC decided to integrate a co-working model into its own workforce after seeing the value in the coworking type of environment. The company wanted to increase employee satisfaction and reduce turnover rates and save on real estate costs. PwC has converted all of its offices into coworking formats and strengthened work flexibility options.
Real estate giant CBRE has introduced Workplace 360, which is a highly flexible work environment. Workplace 360 offers neighborhoods of spaces to work along with collaborative meeting spaces and the ability to work from virtually any space in the office.
Retail giant Staples and Massachusetts-based co-working company Workbar established a partnership so that Staples could build co-working spaces within its stores which has resulted in an increase in foot traffic and an elevated brand.
As you can see, coworking is not just a trend, but an entirely new way to work. While start-up companies may have pioneered this new way of working, corporations are now taking a piece of the pie and implementing co-working into their own offices and allowing workers to work out of outside coworking spaces.
Sharedspace, is a regional coworking business focused on creating modern, professional, and energetic work environments to stimulate the creativity and productivity of entrepreneurial businesses their teams! Please don’t hesitate to reach out if your business is looking for creative opportunities to reinvigorate your workforce and brand with a modern coworking environment like SharedSpace.