Why You Should Invest in a Co-Working Membership
Co-working spaces have increased in popularity with new office structures emerging and showing great impacts on employee satisfaction and well-being. Why is it all the rage and how can it help you?
The biggest hesitation to most employee’s reservations about working from home, is the isolation and lack of human interaction that they would experience. Enter: the co-working space! Although relatively unknown 10 years ago, co-working spaces have transformed how the worker interacts with their company and the business world.
Let’s backup here. What exactly is a co-working space? If you think about it, it may sound pretty simple, but companies have advanced the art of co-working rapidly over the past few years — an often elegant, sleek and modern infrastructure allowing workers a space to work on different projects alongside others.
Co-working is a model where workers of different companies share office space and resources, allowing cost saving, networking and convenience through common infrastructure. This has previously been attractive to independent contractors, telecommuters or WFH professionals, though in the year 2020, they can benefit more than just the aforementioned professionals. Co-working spaces assist with diminishing the sense of loneliness or isolation that some can often feel when working independently and also limit distractions when working from home or in a coffee shop.
Having a nice, modern space to work in is not the main benefit of a membership (yes, you do have to pay a monthly or yearly membership fee, which can vary depending on location, parking and organization), the biggest benefit is often the establishment of community and a sense of belonging from the many other professionals you can surround yourself with in this space. Many co-working spaces act ore as a cooperative than an incubator, focusing more on community rather than profit.
How Did Co-Working and its Infrastructure Begin?
The basic idea for co-working was first introduced by European developers in the 1990’s, where programmers would exchange skills and ideas for space. Then on, co-working spaces started development from Internet entrepreneurs who were seeking an alternative to working in loud, often busy and easily distractible coffee shops, or isolated home offices. Since the early 2000’s the growing number of independent contractors and workers has increased the demand for co-working spaces and their use in most medium-large cities around the World.
In 2017, the top 3 regions to offer co-working spaces were: Asia, United States and Europe. Many co-working companies have multiple locations around a country, and often can be found in many countries across the ocean, too. Currently, there are over 17,000 co-working locations around the world.
Benefits of a Co-Working Space
Networking Opportunities: Early in your career, or when you do not have in-person interaction with coworkers, networking can be your biggest influence on developing your career or business. Having close proximity to other workers, with the added benefit of knowing you all have the shared experience of teleworking or independent work, can spark conversations that can lead to much higher potential!
Increased Productivity: When at home, it can be very easy to get distracted- kids are screaming, the kitchen is calling your name, cleaning and laundry can be done… many things can pop into our minds that distract us from our work. By going to another space, you can enter into “work mode” and be free of distractions, to increase productivity and efficiency. Additionally, most co-working spaces are open 24/7, making it easier to work around your busy life schedule. If you have a few hours to spare, you can pop-over and get everything completed. This all leads to more job control and higher productivity.
Increase in creativity: By interacting with and exposing yourself to other professionals, you open your eyes to new perspectives and opportunities. The new space and getting out of your normal routine and atmosphere. This can help you refresh your mindset and possibly consider alternative solutions to business problems. Co-working locations allow people to craft work that gives them purpose and meaning, by being more confident and satisfied with their work from more creative networks.
Cost-efficiency: Usually when renting an office, you encounter extra costs that you have to deal with, utilities or food and dining. Co-working spaces offer these perks, often always free coffee, all for one monthly rate. Some spaces also offer built-in business services, like mailing, conference rooms to reserve, all with no lease to be strapped into for many years.
These benefits can be very advantageous to the worker who has not had these opportunities previously. The biggest take-away for me was the networking, flexibility and enhanced productivity. Working from home can be hard, the alternative workspace at co-working offices allows me to break out of my comfort zone and positively impact my work-life balance, and the endless coffee doesn’t hurt.
