From the team at CRETECH, come some Coworking trends influenced by WeWork and similar coworking space providers:
5 Trends Influenced by WeWork’s Model
Not all millennials began in coffee shops. Many started their contract businesses from home. Used to the comforts of home and a flexible work schedule, this generation for one thing, prefers a more relaxed office environment that mixes the comforts of home with the office.
Because of their greater independence, freed from the strictures of the typical 9 – 5 job, these workers have upended the traditional office tenancy. The WeWork model is inspired by granular details like these amassed over the last decade and incorporated into their office spaces.
According to WeWork, that amounts to a savings of $18K per year on average for small businesses with up to 4 employees. Startups in a WeWork office have a 12% greater chance of success than traditional startups based on the first three year survival rate. And nearly 90% of those surveyed are happy with their co-working space.
Globalization, the urbanization of the workforce, the unique demands of millennials, and technology are all conspiring to revamp the office environment of today. Attracting talent alone will require getting ahead of these 5 trends thanks to WeWork:
#1: Finding New Partners – Only co-working spaces modeled like WeWork offer different companies the opportunity to co-mingle and haveserendipitous encounters with each other, sparking new ideas and concepts.
#2: Coming Up with New Ideas – In addition to finding new partners, shared office spaces that offer shared break rooms, classes, relaxation areas, etc. create a community that help each other come up with new ideas and improve the overall happiness of tenants.
#3: Inspiring Other Co-Working Offices – WeWork is inspiring businesses large and small to consider modeling their offices on the WeWork model. Giants like Regus in the traditional office market are now coming up withtheir own co-working offices.
#4: Creating Unique and Comfortable Office Environments – The mix of home and office is a trend influencing office spaces everywhere, mixing work with pleasure and lifestyle amenities.
#5: Motivating More Flexible Leasing Options
On the downside, short term leasing is proving to be a bit of a problem for WeWork as of late. They are angling to find more long term leasing opportunities as their model has already had the biggest influence on the trend toward more flexible leasing options.
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