There is no doubt that remote working is here to stay for good. While the initial work-from-home (WFH) arrangement remains a viable option for many remote workers, its shortcomings make it apparent that it is not a long-term arrangement for some people. Factors like this and many others, including a better working environment and more cost-effective renting options, led coworking spaces to achieve global popularity among entrepreneurs and freelancers to regular employees. However, many workforce trends also aided today’s coworking phenomenon, from changing industry priorities to independent workers and their evolving tendencies. Below, we look at the trends that stand out in particular.
1. Higher priority on digital marketing
Digital marketing is nothing new and has been around since the internet’s early days. Still, the increased competitiveness in modern businesses brings a greater need and emphasis to improve it for commercial success. Thus, digital marketing has evolved and continues to become more sophisticated, and organisations that neglect it will undoubtedly operate at a disadvantage against their competitors.
However, digital marketing is no easy process, and managing it can prove difficult and complex, especially for entrepreneurs and startups. Technical SEO problems, creating, sharing, and optimising content, and handling some degree of data analysis all come into play to increase a brand’s online visibility. Since not many businesses can manage these efforts in-house during the early stages, the best solution will naturally be outsourcing to qualified marketing professionals and even freelancers. This, in turn, creates many job opportunities for people specialising in this field, many of which turn to coworking for their daily office needs.
2. Increase in entrepreneurship
The rise of entrepreneurship worldwide has long been clear for the better part of a decade now, as supported by one of Entrepreneur’s findings. While this does have its negative implications, there are no signs that the trend is slowing down anytime soon. As such, the new startup founders still finding their footing initially begin with the old-fashioned arrangement of working from their homes or renting small studio offices but will find their drawbacks to be impeding their progress. Eventually, the need for affordable, flexible, and professional office-like spaces leads them to the coworking model that checks many of their workplace requirements.
3. Cloud computing and modern communications
With the leaps in network technology and the necessity born from the recent pandemic, organisations now accept that working from a single location is no longer the only viable way of conducting operations. Video conferencing platforms, email, project management systems, file sharing, and many other cloud computing technologies make it possible for workplaces to extend beyond their four walls and effectively complete deliverables.
There are many ways in which cloud computing makes remote workers feel connected. Among these, the core is that fully digitised office operations let employees far from the main office still plug into their work, engage with their peers, and participate in projects. Essentially, today’s cloud technology makes remote working far more feasible, leading to a significant remote workforce taking advantage of coworking spaces.
4. Digital nomad lifestyle is gaining traction
The digital nomad lifestyle is conducting one’s occupation remotely over the internet while travelling for weeks to months and sometimes even longer. Digital nomads often cross borders and go to the places they want to visit, while others keep their adventures within their native country. The factors discussed previously further make the travel working lifestyle possible for many professionals, which in turn boosts the coworking trend.
While there are no guarantees that coworking spaces will be available in every destination you visit, the continued expansion of coworking spaces means more and more branches will pop up and the less likely you will be stuck working solely from your lodgings. Moreover, many coworking spaces operate as chains, which means memberships work across branches, making them a more attractive option to the growing number of digital nomads.
As you now see, many other factors contribute to coworking popularity besides the recent global adoption of remote working. One may argue that there is somewhat of a chick-or-egg question with some of these considerations regarding which prompted which first, but the truth is likely a mix that goes both ways. Ultimately, one should simply view the points above as the biggest driving factors helping coworking thrive.
Should you need modern single office spaces for rent, look no further than GreenHub Singapore. We provide fully-furnished coworking spaces that come with all the supplies and amenities your workforce needs, further complemented by the green and biophilic interior design scientifically proven to promote higher productivity and mental well-being. Contact us today to get started!