Coworking spaces carry an image associated with millennials. Speaking generally, society views these shared office spaces as hubs for the sweatshirt-and-jeans social entrepreneur, the artsy latte-loving graphic designer, and the optimistic fresh-faced newly graduate. In short, it’s associated with the younger members of the workforce. Don’t be fooled. We have proof coworking is for more than the millennials generation.
Deskmag surveyed nearly 2,000 people in its annual review of coworking spaces. While the dominating age group did skew to the 20- and 30-somethings, they found the 50+ demographic was the fastest growing, followed by the 40-49 age bracket. Why would that be?
Part of the reason lies in the realities of mother nature: millennials are aging. Depending on your definitions of when the “millennial” generation starts, they could anywhere from their late 30’s to early 40’s. In 2017, the mean age of a coworking space member was 36.4 and 36% of members were over 40.
Flexibility is Key
Another factor? More businesses support the mobile-friendly lifestyle. Flexible working hours and conditions attract workers who seek something beyond the 9-5 that suckered previous generations. The modern worker wants a better work-life balance. Having some flexibility in where and when they work is part of offering employees that balance.
Older Workers Save Money Coworking
Additionally, more retirees are launching passion projects and re-entering the workforce as entrepreneurs. Coworking spaces make sense to save costs while launching the new business. Even if retirees aren’t launching new ventures, people are remaining in the workforce longer. Back in 2014, the Bureau of Labor Statistics looked at people 55 and older and found 40 percent were still working or actively seeking employment in some form.
We’re glad to see workers of all ages embracing shared spaces as the place to get work done. Older workers add experience and depth the professional community. Their past business experiences enhance the networking and learning opportunities for all a coworking hub’s members.