Why Do People Join Co-working Space?

Co-working spaces appear to have a unique quality. As experts who have spent years studying how employees flourish, we were shocked to discover that those who belong to them report thriving levels that are close to a 6 on a 7-point scale. This is at least a point higher than the average for people who work in traditional offices, and it is so unusual that we had to double-check the data.

What makes co-working spaces so effective? Co-working spaces are characterized as membership-based workspaces where various groups of freelancers, remote workers, and other independent professionals work together in a shared, communal setting. Is there something to be learned for more typical offices?

• People that work in co-working spaces consider their employment to be worthwhile

Aside from the type of job they perform – freelancers working on projects they care about, for example – the people we polled found meaning in the fact that they could bring their entire selves to work. They can accomplish this in a variety of ways.

To begin, unlike a traditional office, co-working spaces have members who work for a variety of firms, ventures, and projects. They don’t feel the need to put on a professional persona to fit in because there is minimal direct competition or internal politics. Working with people who do a variety of jobs might help to strengthen one’s own work identity.

Second, meaning may come from working in a culture where it is the standard to help each other out, and there are many opportunities to do so; the diversity of employees in the space implies that coworkers have unique skill sets that they may contribute to other members of the community.

Finally, meaning can be taken from a more concrete source: the social objective embodied in the Co-working Manifesto, an online document signed by over 1,700 working space members. It expresses the qualities that the co-working movement strives for, such as community, cooperation, learning, and sustainability.

• They have more control over their jobs

Co-working facilities are often open 24 hours a day, seven days a week. People can choose to work a long day when they have a deadline or want to demonstrate progress, or to take a long break in the middle of the day to go to the gym. They can choose to work in a quiet area where they can concentrate, or in a more collaborative area with shared tables where conversation is encouraged. They can even choose to work from home without consequence if they need to meet a repairman or attend to a family member’s needs.

• They have a sense of belonging to a group

Connections with others are a major reason why people pay to work in a shared area rather than working from home for free or renting a boring office. Each co-working space has its own atmosphere, and the managers go to great lengths to create a one-of-a-kind experience that caters to the demands of its different members.

Why is Co-working Space Important?

The reason for co-working’s growing popularity is its balance of benefits and drawbacks. The pros and cons of co-working spaces are straightforward and proportionate, but the value of benefits far outweighs any drawbacks. Let’s take a closer look at this.

A quick look at the benefits and drawbacks of co-working spaces

The reason for co-working’s growing popularity is its balance of benefits and drawbacks. The pros and cons of co-working spaces are straightforward and proportionate, but the value of benefits far outweighs any drawbacks. Look at this:

Benefits

Co-working is advantageous to both businesses and employees. It’s all about cost savings for businesses. On the employee side, it is about having the freedom to work in the way that is most beneficial to each individual. Benefits will grow as the traditional workplace fades, resulting in more remote workers:

• Allows employees to work from home in a professional environment.
• Businesses may find that a smaller lease is more cost-effective than a larger lease.
• Increases the number of networking opportunities available to mobile workers
• Facility upkeep requires no maintenance.
• Professionals benefit from the flexibility provided by pay-as-you-go and membership models.
• Various space types, ranging from individual workstations to group areas
• Almost all work hours are accommodated

Drawbacks

The majority of co-working disadvantages revolve around the openness of the space. Diverse people working in a diverse environment means distractions. Furthermore, there is a general lack of hierarchy and order, which both companies and employees must adjust to. The good news is that many of the disadvantages of co-working can be overcome with new habits and familiarity.

• Traditional employees face a lack of permanence and dedicated personal space.
• It can be difficult to deal with a lack of privacy as well as an excess of noise and distractions. There is also the possibility of personality conflicts between random individuals.
• Companies with rapidly expanding space requirements may find the costs prohibitive.
• Problems caused by decentralized workers and a lack of direct oversight Desk availability is not always guaranteed (even with reservations)

Is it worthwhile to invest in co-working spaces? Co-working is becoming increasingly important as the demand for flexible work environments grows, commercial real estate costs rise, and employees enter the remote workforce. Based on the breakdown of benefits and drawbacks, many businesses regard them as an essential component of their business strategy.