With the flexibility to come and go as they please while surrounded by like-minded individuals, it’s not difficult to believe that people thrive in coworking spaces.
But what exactly is it about these spaces that help people do their best work? There are many answers to this question, ranging from clear-cut benefits to what the spaces can offer to specific businesses.
Below, we explore coworking spaces, as well as why people thrive within them.
What is a coworking space?
A coworking space is a type of workspace where individuals or businesses can share a space and work alongside people from other companies. It’s different from a traditional office space, where you only work beside colleagues from the same business.
These shared office spaces have all the amenities you’d get in a traditional office space, like high-speed WiFi, reception staff, printers, and high-quality office equipment.
However, as opposed to traditional offices, they often offer more flexibility, such as featuring breakout spaces and common areas designed to be shared with employees from different companies. Thanks to this, coworking spaces are particularly suitable for start-ups, freelancers, and small businesses.
Better yet, most coworking spaces allow the choice between a dedicated or hot desk setup.
A dedicated desk means you have your own desk space, where you can leave all your equipment or make the space your own by adding personal items. It’s perfect for people who like going into the office daily.
Hot desking, on the other hand, means that you don’t have a personal desk but can drop in whenever you like and use whichever desk is available. This is ideal for those who visit the office less regularly or are on a stricter budget.
What are the benefits of coworking spaces?
The benefits of coworking spaces are wide-ranging, and they’re ideal for businesses that want to offer more flexible working, as it means your staff can work wherever they please.
Because you don’t need to pay rent on an entire office, you’ll likely save money switching to shared office space, another significant coworking benefit.
Global Workplace Analytics shows that businesses can save $11,000 per year per person working in the hybrid model. You only pay for the space you use, making it a good solution for growing businesses.
Another unique benefit of working in this way is meeting other business owners. Coworking and networking go hand-in-hand. You can share knowledge and learn from each other, and there are plenty of opportunities for socializing.
What do people look for in a coworking space?
No two coworking spaces are the same. Some focus on creating a collaborative space with plenty of opportunities to network and connect with other people.
If you’re looking for a place to socialize and learn from others, look for a shared workspace. It’s here where communication and collaboration are encouraged. Perhaps it’ll be one that has lots of social events and a buzzing work environment.
Find out how to choose the suitable coworking space for you, no matter what you want to get out of your workplace.
Some of the reasons why people thrive in coworking spaces
It is essential to consider plenty of different factors about a specific coworking space. For example, you should consider what other businesses use the workspace and think about whether you want a coworking space for freelancers, one where fellow industry players work, or if you want to be around big names in your sector.
Alternatively, you should consider the location. Think about whether you want to be based in the heart of your city, or if you want to enjoy some more peaceful, quiet areas outside a city center.
Regardless of what you’re looking for, each coworking space offers plenty to different businesses and people. Below, we explore some of the common reasons it often helps workers thrive in coworking spaces.
Overall flexibility and better work-life balance
No two people are the same, and no one working environment suits everyone. Some people prefer more flexibility in their day-to-day working life than the traditional office setting allows.
Working the traditional 9-5 doesn’t work for everyone, whether because they have to do the school run in the morning, have a hobby in the evening, or maybe they’re simply not a morning person!
Coworking spaces can allow office workers to have more flexibility in their life and build a work schedule that works for them. People can go in early or work late, fitting their work around their life, and not the other way around.
That means people can improve their work-life balance. This topic is vital for any business to promote, given that 70% of women and 65% of men see work-life balance as more important than their pay and employee benefits combined.
Coworking spaces not only allow workers to come and go as they please, working whichever hours suit their schedule, but they also offer a separation between work and home life.
Home working has surged in popularity since the COVID-19 pandemic. In 2023, over 12% of the American workforce is estimated to work from home, with no restrictions in place. But working from home doesn’t work for everyone. 68% of workers prefer a hybrid model, with part of the week spent working from home and the other part in an office.
Coworking spaces provide the perfect balance without businesses committing to expensive office spaces.
Better job control and fewer stressors
The layout of coworking spaces gives coworkers autonomy over how and where they work. They can choose to collaborate in an open space or go to a quiet zone when they need to get their head down and focus.
The working environment of coworking spaces is specifically designed to suit various working needs, with different zones for different working styles, a choice of hot desks, and ergonomic workstations.
Coworking spaces have all the facilities and amenities required for more efficient working. From fast internet connection to meeting rooms that can be booked when you need to get together with coworkers or get in front of clients.
Coworking improves mental health in the workplace
Mental health at work is an important topic, with 4 out of 5 experiencing mental health problems in the workplace. It’s a problem that’s particularly prevalent among remote workers and freelancers.
Leapers found that 64% of freelancers said that stress, anxiety, or poor mental health impacted their ability to work since going freelance. This can be exacerbated by concerns around taking time off due to the impact of lost income for self-employed people.
It’s also compounded by the fact that many freelancers and remote workers spend most of their time working alone. Naturally, this leads to feelings of isolation.
In addition, it made it more difficult for people to bond with their colleagues, especially for new starters who had to do their training remotely and for the younger generations.
Deloitte found that one in five Gen Zs and millennials found it harder to form connections with colleagues when working remotely, and just under 15% stated flexible working made it harder for them to find a mentor.
Coworking spaces for freelancers and remote workers help these demographics to form a community by working with like-minded individuals.
Even though they may be working in different fields and for various companies, having that human connection every day can help boost morale. This can help people thrive at work, thanks to an improved sense of well-being and mental health.
Feel part of a larger like-minded community
As noted above, when you work for yourself or are employed but work remotely, it can be challenging to foster connections with others.
Coworking spaces are home to diverse groups of people. These workplaces are designed with collaboration in mind, meaning there are many opportunities for personal and professional networking.
Many coworking spaces also organize events with networking in mind. From lunch and learns to after-work drinks, these events help to foster genuine relationships, both professional and friendships, between those who work in the same space.
All of this makes coworking spaces feel less like somewhere you go just to work and more like a community of like-minded individuals.
So, why is community so important in coworking spaces? Simply put community and shared office spaces go hand in hand.
When people feel like they're part of a community, they can achieve their best and thrive at work, surrounded by cheerleaders they may never have met if they worked in a private office space.
Potential for innovation and collaboration
Coworking spaces are deliberately designed to create a more relaxed working environment. When people feel more comfortable with one another, they’re more likely to share ideas, collaborate and work more productively.
In traditional office settings, you’re surrounded by people from the same company, and you often spend most of your time talking to people on the same team. But in coworking spaces, workers can interact with people from different industries with different roles and responsibilities.
You never know who you might work beside when you use a hot desk. Perhaps you’ll meet a new collaborator, a new customer, or even a new business partner.
Enhanced productivity in a coworking space
Coworking spaces are certainly designed to encourage workers to be more productive. Many of us have distractions when working from home, from the full dishwasher to the snacks in the fridge.
Coworking spaces give workers a space to go, free from the distractions of home but without the rigidity of traditional office space.
They’re built with various spaces, including meeting rooms, pods, and more open spaces. This gives people the choice of either working amongst themselves or the choice to collaborate with their colleagues.
Not everyone works the same way, so the design and layout of office spaces allow everyone to work in whatever way is most productive.
However, in coworking spaces, almost everything you need to work is provided for you. This ranges from internet to reception services, so you don’t need to worry about getting distracted from the task at hand to answer the door or pick up the phone. This all leads to even more efficient working.
Access various coworking spaces globally
One of the great benefits of freelancing or remote work is that you can work from anywhere. It’s thought that there are 15.5 million digital nomads worldwide, that is, people who work while traveling.
They may have a home base in their home country and travel for extended periods working as they go, or they may live a more traditionally nomadic lifestyle, hopping between different countries.
Usually, what digital nomads need when working abroad is to have access to fast internet and a good workspace. Coworking spaces are an excellent solution for these types of workers.
It’s not just digital nomads who benefit from access to coworking around the world. Business travelers also often need access to reliable internet when on the go.
A pass like the Regus coworking membership gives workers such as these the flexibility to work in any space worldwide, whenever they need to.
Is a coworking space worth it?
Coworking spaces are an excellent option for a variety of workers, from small businesses looking for shared office space to freelancers who want to work closely with other entrepreneurs.
With the flexibility to work when, how, and where you like, and a carefully considered design built with productivity in mind, these workplaces could be just what you need when working.
Regus offers coworking spaces all around the US and beyond. So whether you’re looking for a dedicated desk and somewhere to work from regularly or want the freedom of hot desking, get in touch to find out more.
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Regus offers office spaces all across America for businesses large and small. From coworking centers based in New York to hot desking offices in California, Regus has locations in and around every major city in the country. Work your way with Regus.
