What the Future of Wework Looks Like?

Introduction

The business market is evolving. And, so is the working sector of employees where new ideas like coworking spaces have gained popularity. Born out of an idea of creating functional and efficient workspaces on-demand, in 2010, WeWork has expanded its roots to bring together tech giants across the globe to local startups alike.

Coworking Spaces are Evolving the Corporate Industries

Coworking spaces are definitely the next big thing coming up in the corporate industry with 14% of businesses already being a part of it in some way. Commercial offices are facing a regular decline as the traditional business structure evolves into a more modern approach when it comes to working in offices. Not only are Fortune 500 companies shifting to these spaces to bring in more productivity and efficiency into their workforce. This idea also seems to be greatly welcomed by startups, entrepreneurs, business travelers, freelancers, and digital nomads. Working here rather than in a typical corporate office environment is more beneficial to them.

Virtual Spaces are a relatively new addition to coworking spaces. One of the most reliable and creative innovations of working space, it allows you to connect with clients professionally by reducing the number of overheads. We provide you with a stable, secure, and fast wifi connection with better access to candidates that makes virtual spaces, not just demand but a necessity of any office infrastructure.

Why are WeWork Coworking Spaces Becoming Successful?

As the pandemic situation comes under control, several offices are gearing up to open and employees all over the world have started going back to their normal lives. But let us not ignore the fact that the “Work-from-home” system of running offices could revolutionize bringing in a new normal called “coworking spaces,” a pleasant substitute to rigid offices.

Corporate companies are now looking for a more flexible way of working and looking for spaces where they can come in close contact with owners and employees of the same field where they can exchange ideas, sign deals, or work together. It is here that WeWork poses as an ad-hoc solution to the common decentralization of traditional offices.

Changes are already beginning to happen with Facebook, Google, Infosys, and other companies of the sort already allowing WFH for around 33% to 55% of its employees. Only 25% of TCS employees might need to come to offices on a regular basis by 2025. As the global community of businesses continues to adapt and reinvent their working environment, WeWork provides them a solution to all their necessities. From meeting rooms to the common workspace, hot desks, personal cabins, and more. The world of coworking space has a lot of possibilities that can be explored in the near future.

Statistics You Need to Look At

The new age of business environments has already begun. WeWork Coworking spaces have already been a huge influence in this. Every day, there is a rise in the number of companies that are shifting to our coworking model. Several countries are adapting to the new normal.

The future of coworking spaces looks extremely promising. With the 5% office space market expected to swell up to 30% by the next decade, you can easily tell how people are accepting the new normal.

By the year 2022, experts believe to see the number of coworking spaces across the 20,000 marks and reach around 25,968. This will be 42% more than what was the number in 2019.

It is estimated that there are going to be 2,595 new openings every year which clearly indicates the fact that this is an evolving trend that has come to be accepted by many. With cutting-edge technology, modern-day facilities, and a collaborative work environment, it is enough to attract the young business minds and old well-settled companies alike.

Impact of Covid-19 on Coworking Spaces

There is no denying the fact that the current coronavirus pandemic has had a huge impact in bringing up the face of coworking offices. Bringing in the idea of Work-from-home, industries were forced to see the possibility of allowing a large part of their workforce to continue their job from home. As we realize that we can envision an office that is more sustainable, economical, and efficient, the future of coworking offices becomes clearer.

Offices that are usually located in big cities or away from residential areas are now opting for workspaces near them, thus effectively cutting down the cost of transportation. Professionals are eyeing remotely connected office environments where \”Work Near Home\” can be the new normal. Not only will it help in saving the time to commute from their homes to offices. Not only will it remove the tiresome cycle of working in mundane offices but also get rid of congested office spaces.

As the world reopens and slowly goes back to the normal state of things, coworking spaces might see a surge in the number of companies that might be seeking to hire them. The trend will continue to rise as the door to new possibilities have already opened with the WFH method of carrying out business tasks. Companies will be looking for office models that maintain social distancing while not limiting the number of opportunities. WeWork is already prepared to welcome this new change.

Coworking Spaces: An Emerging Trend

One outcome of the pandemic and coworking situation combined is that it has led to the idea of having a more distributed workforce that is not only easily accessible but also highly functional. This doesn’t mean that offices are going to be shut down. In fact, companies will be looking for more effective and easier ways of bringing flexibility and mobility into their office spaces. This means that offices will be all about having great connectivity and being more adaptable to work.
Hence WeWork will be opening several new spaces in rural and suburban areas to meet the need of high demand for space in the coming months. The plan is to establish easily accessible coworking spaces around the globe by the next 5 years. As cities will continue to evolve at a very rate, so will the need to cater to the needs of having a more distributed workspace. Although people will still be working at homes with very little in-office hours, coworking spaces will provide a productive, safe and diverse environment in regional areas.

Experts say that as the trend of coworking spaces will continue to see a steep rise, the method of how others would see a company\’s workspace will change from meters squared to people squared. While traditional offices will break free of the clutches of rigorous rules and workspace leases might still be a thing but what will rule the method of acquiring office environments is outsourced providers who offer “Workspace as a service”.

As we all know the idea of shifting from rigid offices to more vibrant and assorted workspaces that bring people from various industries together will be successful only when employees are satisfied with working in such office environments. It is extremely necessary that a company’s workforce is able to adapt to our coworking environments and receive services on demand. WeWork is positioned to guarantee a stress-free and spirited ambiance.

There will also be an emergence of small working spaces in tier II and tier III towns. Workspaces will provide you a more customized environment based on your requirements. You might even see increased perceptibility towards creating an eco-friendly and sustainable environment to work in. With cutting edge technology to support all your work and shared talent and resources to back you up, coworking spaces will be the solution to a more productive way of working.

Wework will Dominate all Office Spaces Around the Globe

Unlike the current office scenario, where an office in a posh area or a sky-high tower is seen as a status symbol by multiple companies, digitalization and the work from home concept has started gaining relevance. Despite the fact that owning your own company gives you the benefit of maintaining a stronghold over your position in the market, it might eventually be seen as a symbol of excessiveness. Contrary to taking up more space for official works, digitalization has shrunken everything and with coworking offices, you can shrink it even further by opting for only the required amount of spaces in a vast number of locations.

The pandemic has already proved the worth of this concept. Businesses can still run without traditional offices and remote working shall be taken up by companies in no time. Not only do you free up a considerable amount of space but also adopt a better approach to having people work for you wherever they are. There are a lot of rooms or areas in offices that are used occasionally. Why do you need the time and resources to have them and maintain them when you can hire such facilities with state of the art technology on demand? There are a hundred reasons why coworking spaces will allow you to have a better workforce. Eventually, companies are going to see it, and hence, they are going to be a substitute to traditional offices for the new generation.

Contactless Operation will be Inculcated

The contactless operation was already being imbibed into technology way before everyone had to necessarily maintain social-distancing because of coronavirus. From contactless payments to blockchain technology that brings up technological innovations as smart locks technology has clearly paved the way to a world of contactless operations. Not only is the process sleeker but also easier and faster. When you are already getting modern technological marvels that get constantly updated with the changing times, why would you opt for old and boring offices? WeWork is a coworking space aimed at making offices automated and safe with convenient designs and relaxing infrastructure to work at.

Wework Contactless Operation will be Inculcated

In the near future, coworking spaces will tend to specialize in industry-specific areas that can easily be facilitated according to your needs. Not only will they be furnished tastefully and equipped with modern technology but will also provide you the equipment that is necessary for your work on demand. This will help you create a niche environment for your area of work and allow you to collaborate with people from other industries at the same time.

Although workspaces are already equipped with the basic essentials like ethernet cables, laptop docks, nice desks, and power sockets there are plenty of industry-specific requirements that need to be taken care of. WeWork shall specialize in prioritizing the niche of workers that join our community by providing them high-quality equipment and suitable rooms where they can carry out their work professionally.

Activities / Events / Workshops Will Enable Networking Opportunities

Although traditional offices will be less prevalent in the coming times, you need not worry about missing out on recreational events or informative workshops for your employees. Not only does WeWork has special areas dedicated to activities like these but we also consciously work upon organizing more such entertaining workshops that help employees unwind and relax from their hectic tasks. Apart from keeping workers motivated and engaged in their office works, we also contribute a lot to training workshops in order to hone their skills or enhance their knowledge about a particular subject.

Hence, planning and organizing activities is another interesting aspect of being a part of our coworking community. It not only helps you get out of the tiresome schedule to learn something new but also opens a door to new networking opportunities and helps you gain exposure with your fellow workmates.

A Green and Economic Office Model

WeWork plans on bringing in an eco-friendly mode of office space that allows you to work in close proximity to nature thus ensuring that you remain freshened up during your entire day. This means that we plan on going green without cutting down on the amenities and access to modern technology. Coworking spaces will have more natural lights, greenery, and recycled materials on the design front. We also plan on putting IoT to use to automate controls in the office area. This ensures efficiency while keeping the costs of energy usage low.

Thus, corporate companies are more likely to choose an office space that is dedicated to creating a healthy and modern environment to work in. In turn, this will effectively reduce the maintenance costs and commitments required for their traditional offices. The design will inspire productivity in a relaxed environment making it more favorable to employees.

Conclusion

In conclusion, the future of WeWork is pretty bright considering the amazing response that we receive from our clients. When it comes to shedding old and rigorous offices and adopting a more relevant approach to office spaces, many corporate giants seem to heartily welcome the idea. In the coming years, WeWork shall lead the workspace business market in operational convenience and efficacy.