What is coworking?
Coworking spaces are shared workplaces utilised by different sorts of knowledge professionals, mostly freelancers, working in various degrees of specialisation in the vast domain of the knowledge industry. Practically conceived as office-renting facilities where workers hire a desk and a wi-fi connection these are, more importantly, places where independent professionals live their daily routines side-by-side with professional peers, largely working in the same sector – a circumstance which has huge implications on the nature of their job, the relevance of social relations across their own professional networks and – ultimately – their existence as productive workers in the knowledge economy.
The history of shared-office spaces is surprisingly longer than some think. The idea first came to life in 1995 when c-base, an association of engineers, created a ‘hackerspace’ in Berlin for computer hackers to meet and work together. Four years later, in 1999, the trend spread to New York City, and 42 West 24 was born by a software company to help contracted employees.
Growing Number Of Freelancers
40% of the workforce will be freelances, temps, independent contractors, and solopreneurs by 2020
This is a number that we can’t ignore. More people are choosing a more flexible lifestyle, and we have to be aware of this. Coworking spaces will become even more popular, and companies with remote employees can take advantage of this. If you have an employee that wants to work from home, setting them up in a coworking space can be a better arrangement.
Coworking Makes You Feel Healthier
70% reported they felt healthier than they did working in a traditional office setting
Maybe this has something to do with all of the stress that comes from a traditional office setting, or maybe it’s because coworking spaces have more initiatives to promote wellness, but according to a survey, people reported feeling healthier when working in a coworking space.
When you’re healthy, you’re naturally going to be more productive, so it’s a win-win.
Coworkers Complete Tasks Better
64% of coworkers are better able to complete tasks on time
This is an amazing statistic, and speaks volumes about the power of coworking spaces.
If people are more productive when they’re in coworking spaces, then companies should take advantage of this. Any temp or freelancer that a company hires should set them up in a coworking space instead of letting them work from a coffee shop.
Coworkers Can Focus Better
68% said they were able to focus better while coworking
My theory on this one is because of the energy that a coworking space has.
Everyone is there to work, and is there for a serious purpose, whereas in a coffee shop there can be many more distractions. Another great reason to use a coworking space is simply for the vibe in the room. It’s like workijng out at home or going to a gym, you’ll always push yourself harder at the gym because of the other people around.
People Are Satisfied With Their Coworking Space
92% are satisfied with their coworking space
This is a great statistic, and anyone that runs a coworking space should be proud of themselves.
The people who run coworking spaces do a great job of creating that sense of community within everyone that works there. There are also usually lots of networking events and community-building initiatives, which makes it that much more satisfying
Coworking Leads To Better Interactions
91% have better interactions with others after working
In coworking spaces, people, who might have never met each other otherwise, are constantly interacting with one another. This leads to feeling happier and makes it easier to connect and start conversations with other people outside of the coworking space.
Coworking Makes You More Relaxed
60% are more relaxed at home since coworking
This is probably my favorite statistic on the infographic.
Work-life balance is an important topic for us here at Officevibe, and something we talk a lot about. The amount of stress that the typical worker brings home does so much damage to their children/spouse. Anything to help achieve a better work-life balance is important, and coworking spaces give the flexibility and freedom that entrepreneurs need.
Lots Of Coworkers Are Younger
78% of coworkers are under 40
Mostly younger workers are in coworking spaces, but that doesn’t mean it’s only meant for younger workers.
Everyone, no matter how old you are, wants to be more productive, be healthier, and have a better work-life balance.
Coworking Makes You More Confident
90% said they felt more confident when coworking
This is probably again some placebo effect from the atmosphere in coworking spaces, but everyone that’s there is there to work hard, so it gives you a sense of drive that lets you work harder. Plus, with the access to resources and events, you get a sense that there is a support network, which gives you more confidence.
You Make More Money Coworking
50% report higher incomes
This is an interesting one, and my theory on this is that an entrepreneur or freelancer, that uses a coworking space instead of something like a coffee shop, will end up working harder, and is just taking the process more seriously.
Something for all independent workers to keep in mind.
Freelancers Like To Work On Their Own Schedule
Only 30% prefer to work during normal business hours
This goes beyond just coworking; people need to autonomy and flexibility to work whenever they want to, whenever they feel the most productive. Coworking spaces need to meet that demand, and stay open longer than normal business hours.