• Events
  • Marketplace
  • Resources
  • Press Releases
  • Business Directory
  • About Us
  • Advertise
  • Contact
The FUTURE OF WORK® since 2003
Allwork.Space
Subscribe
  • All Topics
    • Business
    • Biophilic Design
    • Career Growth
    • Coliving
    • Collaboration
    • Coworking
    • CRE
    • DE&I
    • Digital Nomads
    • Future of Work
    • Home Office
    • Human Resources (HR)
    • Hybrid Work
    • Investment
    • Leadership
    • Marketing
    • Mental Health
    • Mergers & Acquisitions
    • Office Furniture
    • Productivity
    • PropTech
    • Remote Work
    • Self-care
    • SMBs
    • Social Impact
    • Space-as-a-Service
    • Technology
    • Virtual Office
    • Work-life Balance
    • Workforce
    • Workplace Design
    • Workplace Wellness
  • NewsLatest
  • Business
    How The Middle East Will Become A Financial Center In The Future Of Work

    How The Middle East Will Become A Financial Center In The Future Of Work

    Is Your Collaboration Smart

    Is Your Collaboration Smart?

    Demystifying Workplace Culture

    Demystifying Workplace Culture

    A Leader’s Guide To Creating Strong And Authentic Organizational Culture

    A Leader’s Guide To Creating Strong And Authentic Organizational Culture

    Boost Your Financial Know-How: Mastering Effective Strategies in the Future of Work

    Boost Your Financial Know-How: Mastering Effective Strategies in the Future of Work

    Why Human Connections Are A Business Advantage In A Remote World

    Why Human Connections Are A Business Advantage In A Remote World

    Is Adam Neumann’s Flow a bold new CRE/coworking venture, or just a repeat of past mistakes?

    Neumann’s Flow: A $1 Billion Valued Wildcard to Watch in 2023

    Identifying and Overcoming 4 Common Barriers to DEI

    Identifying and Overcoming 4 Common Barriers to DEI

    The Real Reasons for Hybrid Workers to Come to the Office

    The Real Reasons for Hybrid Workers to Come to the Office

  • Work-life
    A New Approach To Work: The Benefits Of Implementing Activity-Based Working In Your Office

    A New Approach To Work: The Benefits Of Implementing Activity-Based Working In Your Office

    Use These Tools to Make Your Remote Work Dreams Come True

    Use These Tools to Make Your Remote Work Dreams Come True

    Are Digital Nomads Catalysts For Growth Or A Hazard To Locals?

    Are Digital Nomads Catalysts For Growth Or A Hazard To Locals?

    New Postpartum Depression Breakthrough Could Rewrite The Future Of Work For Mothers

    New Postpartum Depression Breakthrough Could Rewrite The Future Of Work For Mothers

    How To Actually Get Sh*t Done Working From Home

    How To Actually Get Sh*t Done Working From Home

    Chart Your Path To Leadership: 8 Proven Steps To Build Your Professional Credibility

    Chart Your Path To Leadership: 8 Proven Steps To Build Your Professional Credibility

    When Too Much Talk Turns Toxic

    When Too Much Talk Turns Toxic

    Your Dream Workation In The Swiss Alps Awaits (And It's More Affordable Than You Think)

    Your Dream Workation In The Swiss Alps Awaits (And It’s More Affordable Than You Think)

    Should DEI be the Cornerstone of Your Workplace Strategy?

    Should DEI be the Cornerstone of Your Workplace Strategy?

  • Tech
    AI Tools Making Space For More Architectural Creativity

    AI Tools Making Space For More Architectural Creativity

    How Can We Navigate The Ethical Minefield Of AI Moderation In The Future Of Work?

    How Can We Navigate The Ethical Minefield Of AI Moderation In The Future Of Work?

    TikTok’s robust new RTO monitoring software sparks employee backlash, concerns about tracking.

    TikTok’s MyRTO: The Future Of Office Attendance Or Employee Tracking Nightmare?

    6 Ways 6G Will Reshape The Future Of Work And Connectivity

    6 Ways 6G Will Reshape The Future Of Work And Connectivity

    8 Reasons Gamification is More Than Fun and Games At Work

    8 Reasons Gamification is More Than Fun and Games At Work

    Nexudus Unveils OpenAI Integration For Seamless Help Desk Automation

    Nexudus Unveils OpenAI Integration For Seamless Help Desk Automation

    The AI Revolution Liberating Workers From The Office

    The AI Revolution Liberating Workers From The Office

    Aerial Shift: How Drones are Redrawing the Landscape of the Future Workplace

    Aerial Shift: How Drones are Redrawing the Landscape of the Future Workplace

    AI Solutions Won’t Solve Workplace Well-Being Woes

    AI Solutions Won’t Solve Workplace Well-Being Woes

  • Design
    Gen Z’s Impact On The Workplace: Tech-Enabled And Collaborative

    Gen Z’s Impact On The Workplace: Tech-Enabled And Collaborative

    4 Priorities To Consider When Designing Workplaces For Gen Z

    4 Priorities To Consider When Designing Workplaces For Gen Z

    A Playful Office Doesn’t Have To Look Like a Playground

    A Playful Office Doesn’t Have To Look Like a Playground

    From Ghost Town Fridays To Vibrant Workspaces: The Power Of Synchronicity In Office Design

    From Ghost Town Fridays To Vibrant Workspaces: The Power Of Synchronicity In Office Design

    How Can Office Design Support Multigenerational Collaboration?

    How Can Office Design Support Multigenerational Collaboration?

    Are We Losing Sight Of How To Build A Better Workplace For The Future Of Work?

    Are We Losing Sight Of How To Build A Better Workplace For The Future Of Work?

    How Do You Prepare Your Office For Future Success? Design It For Gen Z

    How Do You Prepare Your Office For Future Success? Design It For Gen Z

    The Future of Work Includes Everyone — Tailoring Office Spaces for Neurodiversity

    The Future of Work Includes Everyone — Tailoring Office Spaces for Neurodiversity

    Top 10 Ways To Make People Feel More Comfortable And Productive At Work

    Top 10 Ways To Make People Feel More Comfortable And Productive At Work

  • Workforce
    Zooming In On Engagement: How Turning Off Your Camera Can Hurt Your Career

    Zooming In On Engagement: How Turning Off Your Camera Can Hurt Your Career

    Google’s Myth Of Losing Social Capital In Hybrid Work

    Google’s Myth Of Losing Social Capital In Hybrid Work

    How To Stop Micromanaging and Start Trusting Your Staff

    How To Stop Micromanaging and Start Trusting Your Staff

    5 Ways To Avoid Well-Being Washing And Provide Authentic Support To Employees

    5 Ways To Avoid Well-Being Washing And Provide Authentic Support To Employees

    rust-Building in Remote Work The Synergy Between Telehealth And Employee Well-being

    Trust-Building in Remote Work: The Synergy Between Telehealth And Employee Well-being

    Without any widely agreed upon courses and certificates, individuals that want to prove their proficiency with AI need to show their work and prove their worth on an individual level rather than utilizing an online course or certificate.

    How Can You Showcase AI Skills To Supercharge Your Resume?

    Unlocking the HR Secrets of Hybrid Work

    Unlocking the HR Secrets of Hybrid Work

    Redefining Employee Experiences: Why Leading Companies Prioritize EX Design

    Redefining Employee Experiences: Why Leading Companies Prioritize EX Design

    Mothers with Young Children Defy Expectations, Reach Record High Workforce Participation

    Mothers with Young Children Defy Expectations, Reach Record High Workforce Participation

  • Coworking
    Location, Location, Location: Why Your Next Coworking Space Should Be In A Residential Neighborhood

    Location, Location, Location: Why Your Next Coworking Space Should Be In A Residential Neighborhood

    Heads-up, Transactional Spaces: The Future Is Coming

    Heads-up, Transactional Spaces: The Future Is Coming

    Caffeine, Connection, And Career Growth: Coworking Cafés Are Brewing Productivity

    Caffeine, Connection, And Career Growth: Coworking Cafés Are Brewing Productivity

    It’s Time To Rethink Office Valuation Models

    It’s Time To Rethink Office Valuation Models

    Aiming Higher: Strategies to Advance Your Community Manager Career in Coworking Spaces

    Aiming Higher: Strategies to Advance Your Community Manager Career in Coworking Spaces

    WeWork’s Collapse Will Cause Massive Losses In The U.K. And Australia, Too

    WeWork’s Collapse Will Cause Massive Losses In The U.K. And Australia, Too

    How To Convert Clicks into Memberships: Optimizing Coworking Websites for Impactful Results

    Converting Clicks into Memberships: Optimizing Coworking Websites for Impactful Results

    Demand for Privacy and Security in Coworking and Flex Spaces Is Increasing: Is Your Business Prepared?

    Demand for Privacy and Security in Coworking and Flex Spaces Is Increasing: Is Your Business Prepared?

    WeWork Calls In Restructuring Advisors

    WeWork Calls In Restructuring Advisors

  • Marketing
    Take One Simple Step To Boost Buy-in And Brand Engagement

    Take One Simple Step To Boost Buy-in And Brand Engagement

    How Can Conversational Marketing Drive ROI And Human Connection In The Future Of Work?

    How Can Conversational Marketing Drive ROI And Human Connection In The Future Of Work?

    Community is Your Marketing Superpower

    Community is Your Marketing Superpower

    Unlock The Power Of Conversational Marketing To Attract and Retain Customers

    Unlock The Power Of Conversational Marketing To Attract and Retain Customers

    10 Reasons To Give Sprout Social A (Free) Try

    10 Reasons To Give Sprout Social A (Free) Try

    8 Reasons Why Sponsored Content Is Worth The Investment For Your Brand

    8 Reasons Why Sponsored Content Is Worth The Investment For Your Brand

    Instagram GenZ

    2023 Instagram Trends Reveal How To Market To Gen Z

    TrueView360 Interactive Virtual Tours

    TrueView360s Interactive Virtual Tours

    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

  • CRE
    From Cubicles To Community Hubs: Reimagining Work As An Activity, Not A Place

    From Cubicles To Community Hubs: Reimagining Work As An Activity, Not A Place

    Dave Cairns

    Dave Cairns SVP of CBRE | Unlocking Urban Potential: Repurposing Office Spaces for Sustainable Development

    Remote Work And Rising Interest Rates Are Changing The Landscape Of Commercial Real Estate

    Remote Work And Rising Interest Rates Are Changing The Landscape Of Commercial Real Estate

    The Future of NYC Real Estate: How Remote Work is Reshaping Investment Dynamics

    The Future of NYC Real Estate: How Remote Work is Reshaping Investment Dynamics

    What's Going On With Office Vacancies?

    What’s Going On With Office Vacancies?

    75% Of Business Leaders Lack Data Needed For Crucial CRE Decisions

    75% Of Business Leaders Lack Data Needed For Crucial CRE Decisions

    Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

    Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

    San Francisco Skyline

    The Future of Commercial Real Estate in San Francisco Doesn’t Look Good

    3 Things CRE Players Must Do To Stay Relevant In 2023

    2023 Future Of Work Forecast: 3 Things CRE Players Must Do To Stay Relevant In 2023

  • Podcast
  • More
    • Advertise With Us
    • Marketplace
    • Events
  • All Topics
    • Business
    • Biophilic Design
    • Career Growth
    • Coliving
    • Collaboration
    • Coworking
    • CRE
    • DE&I
    • Digital Nomads
    • Future of Work
    • Home Office
    • Human Resources (HR)
    • Hybrid Work
    • Investment
    • Leadership
    • Marketing
    • Mental Health
    • Mergers & Acquisitions
    • Office Furniture
    • Productivity
    • PropTech
    • Remote Work
    • Self-care
    • SMBs
    • Social Impact
    • Space-as-a-Service
    • Technology
    • Virtual Office
    • Work-life Balance
    • Workforce
    • Workplace Design
    • Workplace Wellness
  • NewsLatest
  • Business
    How The Middle East Will Become A Financial Center In The Future Of Work

    How The Middle East Will Become A Financial Center In The Future Of Work

    Is Your Collaboration Smart

    Is Your Collaboration Smart?

    Demystifying Workplace Culture

    Demystifying Workplace Culture

    A Leader’s Guide To Creating Strong And Authentic Organizational Culture

    A Leader’s Guide To Creating Strong And Authentic Organizational Culture

    Boost Your Financial Know-How: Mastering Effective Strategies in the Future of Work

    Boost Your Financial Know-How: Mastering Effective Strategies in the Future of Work

    Why Human Connections Are A Business Advantage In A Remote World

    Why Human Connections Are A Business Advantage In A Remote World

    Is Adam Neumann’s Flow a bold new CRE/coworking venture, or just a repeat of past mistakes?

    Neumann’s Flow: A $1 Billion Valued Wildcard to Watch in 2023

    Identifying and Overcoming 4 Common Barriers to DEI

    Identifying and Overcoming 4 Common Barriers to DEI

    The Real Reasons for Hybrid Workers to Come to the Office

    The Real Reasons for Hybrid Workers to Come to the Office

  • Work-life
    A New Approach To Work: The Benefits Of Implementing Activity-Based Working In Your Office

    A New Approach To Work: The Benefits Of Implementing Activity-Based Working In Your Office

    Use These Tools to Make Your Remote Work Dreams Come True

    Use These Tools to Make Your Remote Work Dreams Come True

    Are Digital Nomads Catalysts For Growth Or A Hazard To Locals?

    Are Digital Nomads Catalysts For Growth Or A Hazard To Locals?

    New Postpartum Depression Breakthrough Could Rewrite The Future Of Work For Mothers

    New Postpartum Depression Breakthrough Could Rewrite The Future Of Work For Mothers

    How To Actually Get Sh*t Done Working From Home

    How To Actually Get Sh*t Done Working From Home

    Chart Your Path To Leadership: 8 Proven Steps To Build Your Professional Credibility

    Chart Your Path To Leadership: 8 Proven Steps To Build Your Professional Credibility

    When Too Much Talk Turns Toxic

    When Too Much Talk Turns Toxic

    Your Dream Workation In The Swiss Alps Awaits (And It's More Affordable Than You Think)

    Your Dream Workation In The Swiss Alps Awaits (And It’s More Affordable Than You Think)

    Should DEI be the Cornerstone of Your Workplace Strategy?

    Should DEI be the Cornerstone of Your Workplace Strategy?

  • Tech
    AI Tools Making Space For More Architectural Creativity

    AI Tools Making Space For More Architectural Creativity

    How Can We Navigate The Ethical Minefield Of AI Moderation In The Future Of Work?

    How Can We Navigate The Ethical Minefield Of AI Moderation In The Future Of Work?

    TikTok’s robust new RTO monitoring software sparks employee backlash, concerns about tracking.

    TikTok’s MyRTO: The Future Of Office Attendance Or Employee Tracking Nightmare?

    6 Ways 6G Will Reshape The Future Of Work And Connectivity

    6 Ways 6G Will Reshape The Future Of Work And Connectivity

    8 Reasons Gamification is More Than Fun and Games At Work

    8 Reasons Gamification is More Than Fun and Games At Work

    Nexudus Unveils OpenAI Integration For Seamless Help Desk Automation

    Nexudus Unveils OpenAI Integration For Seamless Help Desk Automation

    The AI Revolution Liberating Workers From The Office

    The AI Revolution Liberating Workers From The Office

    Aerial Shift: How Drones are Redrawing the Landscape of the Future Workplace

    Aerial Shift: How Drones are Redrawing the Landscape of the Future Workplace

    AI Solutions Won’t Solve Workplace Well-Being Woes

    AI Solutions Won’t Solve Workplace Well-Being Woes

  • Design
    Gen Z’s Impact On The Workplace: Tech-Enabled And Collaborative

    Gen Z’s Impact On The Workplace: Tech-Enabled And Collaborative

    4 Priorities To Consider When Designing Workplaces For Gen Z

    4 Priorities To Consider When Designing Workplaces For Gen Z

    A Playful Office Doesn’t Have To Look Like a Playground

    A Playful Office Doesn’t Have To Look Like a Playground

    From Ghost Town Fridays To Vibrant Workspaces: The Power Of Synchronicity In Office Design

    From Ghost Town Fridays To Vibrant Workspaces: The Power Of Synchronicity In Office Design

    How Can Office Design Support Multigenerational Collaboration?

    How Can Office Design Support Multigenerational Collaboration?

    Are We Losing Sight Of How To Build A Better Workplace For The Future Of Work?

    Are We Losing Sight Of How To Build A Better Workplace For The Future Of Work?

    How Do You Prepare Your Office For Future Success? Design It For Gen Z

    How Do You Prepare Your Office For Future Success? Design It For Gen Z

    The Future of Work Includes Everyone — Tailoring Office Spaces for Neurodiversity

    The Future of Work Includes Everyone — Tailoring Office Spaces for Neurodiversity

    Top 10 Ways To Make People Feel More Comfortable And Productive At Work

    Top 10 Ways To Make People Feel More Comfortable And Productive At Work

  • Workforce
    Zooming In On Engagement: How Turning Off Your Camera Can Hurt Your Career

    Zooming In On Engagement: How Turning Off Your Camera Can Hurt Your Career

    Google’s Myth Of Losing Social Capital In Hybrid Work

    Google’s Myth Of Losing Social Capital In Hybrid Work

    How To Stop Micromanaging and Start Trusting Your Staff

    How To Stop Micromanaging and Start Trusting Your Staff

    5 Ways To Avoid Well-Being Washing And Provide Authentic Support To Employees

    5 Ways To Avoid Well-Being Washing And Provide Authentic Support To Employees

    rust-Building in Remote Work The Synergy Between Telehealth And Employee Well-being

    Trust-Building in Remote Work: The Synergy Between Telehealth And Employee Well-being

    Without any widely agreed upon courses and certificates, individuals that want to prove their proficiency with AI need to show their work and prove their worth on an individual level rather than utilizing an online course or certificate.

    How Can You Showcase AI Skills To Supercharge Your Resume?

    Unlocking the HR Secrets of Hybrid Work

    Unlocking the HR Secrets of Hybrid Work

    Redefining Employee Experiences: Why Leading Companies Prioritize EX Design

    Redefining Employee Experiences: Why Leading Companies Prioritize EX Design

    Mothers with Young Children Defy Expectations, Reach Record High Workforce Participation

    Mothers with Young Children Defy Expectations, Reach Record High Workforce Participation

  • Coworking
    Location, Location, Location: Why Your Next Coworking Space Should Be In A Residential Neighborhood

    Location, Location, Location: Why Your Next Coworking Space Should Be In A Residential Neighborhood

    Heads-up, Transactional Spaces: The Future Is Coming

    Heads-up, Transactional Spaces: The Future Is Coming

    Caffeine, Connection, And Career Growth: Coworking Cafés Are Brewing Productivity

    Caffeine, Connection, And Career Growth: Coworking Cafés Are Brewing Productivity

    It’s Time To Rethink Office Valuation Models

    It’s Time To Rethink Office Valuation Models

    Aiming Higher: Strategies to Advance Your Community Manager Career in Coworking Spaces

    Aiming Higher: Strategies to Advance Your Community Manager Career in Coworking Spaces

    WeWork’s Collapse Will Cause Massive Losses In The U.K. And Australia, Too

    WeWork’s Collapse Will Cause Massive Losses In The U.K. And Australia, Too

    How To Convert Clicks into Memberships: Optimizing Coworking Websites for Impactful Results

    Converting Clicks into Memberships: Optimizing Coworking Websites for Impactful Results

    Demand for Privacy and Security in Coworking and Flex Spaces Is Increasing: Is Your Business Prepared?

    Demand for Privacy and Security in Coworking and Flex Spaces Is Increasing: Is Your Business Prepared?

    WeWork Calls In Restructuring Advisors

    WeWork Calls In Restructuring Advisors

  • Marketing
    Take One Simple Step To Boost Buy-in And Brand Engagement

    Take One Simple Step To Boost Buy-in And Brand Engagement

    How Can Conversational Marketing Drive ROI And Human Connection In The Future Of Work?

    How Can Conversational Marketing Drive ROI And Human Connection In The Future Of Work?

    Community is Your Marketing Superpower

    Community is Your Marketing Superpower

    Unlock The Power Of Conversational Marketing To Attract and Retain Customers

    Unlock The Power Of Conversational Marketing To Attract and Retain Customers

    10 Reasons To Give Sprout Social A (Free) Try

    10 Reasons To Give Sprout Social A (Free) Try

    8 Reasons Why Sponsored Content Is Worth The Investment For Your Brand

    8 Reasons Why Sponsored Content Is Worth The Investment For Your Brand

    Instagram GenZ

    2023 Instagram Trends Reveal How To Market To Gen Z

    TrueView360 Interactive Virtual Tours

    TrueView360s Interactive Virtual Tours

    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

    2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product

  • CRE
    From Cubicles To Community Hubs: Reimagining Work As An Activity, Not A Place

    From Cubicles To Community Hubs: Reimagining Work As An Activity, Not A Place

    Dave Cairns

    Dave Cairns SVP of CBRE | Unlocking Urban Potential: Repurposing Office Spaces for Sustainable Development

    Remote Work And Rising Interest Rates Are Changing The Landscape Of Commercial Real Estate

    Remote Work And Rising Interest Rates Are Changing The Landscape Of Commercial Real Estate

    The Future of NYC Real Estate: How Remote Work is Reshaping Investment Dynamics

    The Future of NYC Real Estate: How Remote Work is Reshaping Investment Dynamics

    What's Going On With Office Vacancies?

    What’s Going On With Office Vacancies?

    75% Of Business Leaders Lack Data Needed For Crucial CRE Decisions

    75% Of Business Leaders Lack Data Needed For Crucial CRE Decisions

    Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

    Rapid Work Style Shifts Are Tanking Tax Revenues — Can City Planners Catch Up?

    San Francisco Skyline

    The Future of Commercial Real Estate in San Francisco Doesn’t Look Good

    3 Things CRE Players Must Do To Stay Relevant In 2023

    2023 Future Of Work Forecast: 3 Things CRE Players Must Do To Stay Relevant In 2023

  • Podcast
  • More
    • Advertise With Us
    • Marketplace
    • Events
No Result
View All Result
Allwork.Space
OfficerRnD_ Flex Startup Program_Illustration_Leaderboard_AllWork_728x90
Home Business

Catching Up With Shared Workspace Trends: A Q&A With Steve King

Cat JohnsonbyCat Johnson
August 24, 2017
in Business
Reading Time: 7 mins read
A A
Shared Workspace
Share on FacebookShare on TwitterShare to Network
Nexudus Ad

If you want to know what’s going on with shared workspace trends, ask Steve King. Partner at Emergent Research, King has a data-based perspective on the industry that stretches back 10 years and is steeped in his vast experience studying small business.

I recently spoke with King about what’s driving shared workspace growth, why his coworking forecasts regularly come in under, and how new accounting rules will affect the industry.

Survey

Cat Johnson: We’ve talked about coworking several times over the years, about the emergence of the industry and the fact that coworking makes people happier and more productive. Let’s pull back a bit and look at the growth of the shared workspace industry as a whole: What’s driving it and where all of this is going?

Steve King: The big thing right now is that the real estate industry has fully recognized shared and flexible workspaces. The real estate industry is fairly stodgy and has a business model based on the long-term lease, but they’ve recognized that the world is finally changing.

More stories for you

U.K. Commercial Landlords Pivot To Flexible Workspaces On High Demand

U.K. Commercial Landlords Pivot To Flexible Workspaces On High Demand

6 hours ago
Location, Location, Location: Why Your Next Coworking Space Should Be In A Residential Neighborhood

Location, Location, Location: Why Your Next Coworking Space Should Be In A Residential Neighborhood

21 hours ago
Amid Global Challenges, WeWork Bets Big On Dublin

Amid Global Challenges, WeWork Bets Big On Dublin

6 days ago
Flexible Office Space Market in India is Poised for Explosive Growth by 2025

Flexible Office Space Market in India is Poised for Explosive Growth by 2025

1 week ago

One of the things that’s really surprised me is that it took them this long, however they do seem to be—as an industry—embracing shared workspaces to a much greater degree.

What do you think is behind that?

In large part, it’s driven by the fact that large corporations are now showing more interest in coworking and shared spaces. The IBM deal with WeWork and the stuff Verizon is doing, both of those have triggered a growing interest on the part of major corporations.

Coworking has historically appealed to startups and independent workers. Now what we’re seeing is a third group finally starting to come in, the larger corporations, and a little bit behind that are smaller companies that have traditionally not been in coworking spaces at all. Suddenly we’re seeing the traditional market drivers—startups and independent workers—continue to move into coworking, so that’s helping to drive growth, but now you have the larger firms and even the smaller firms, which are both sectors that are much bigger in terms of numbers and space needs than startups and independent workers.

It’s a second generation of shared workspace growth. The first generation, we got to where we got through, initially, independent workers, then the startups came on and really drove the growth, especially in the larger spaces like WeWork, so that’s continued to happen. Now we’re layering on top these larger organizations and smaller traditional small businesses.

We do a coworking forecast every year and every year we’ve been low. It’s happened again, I think we’ve missed our forecast low again, even though when we look at the numbers we say, “Wow, those are big numbers.”

From your perspective, why do shared workspaces appeal to corporations and large companies?

What’s happening with the enterprises is they’re recognizing they have a base need for traditional space but that they also rent way too much space under these 10-year lease agreements. What they’re starting to realize is that it’s cheaper and more flexible to have their base need filled then, above that, rent flexible space which increases their business flexibility and agility. I suspect we’ll start to see more and more big companies allocating part of their space needs to flexible spaces.

Because of that, the real estate people are seeing that if they have a coworking space in their building, not only does it make the building look cool, but it’s overflow space for their regular tenants. They see that their regular tenants will be more willing to lease a certain amount of space under the traditional 10 or 20-year lease terms, knowing that within the building there’s flexible space that allows them to overflow when needed.

I’ve been watching this industry for a decade and I’ve been waiting for corporations to start to figure this out. That’s what’s happened over the last year—the real estate industry has really woken up. To me, that’s the next tier of growth. I don’t see the industry slowing down in terms of growth opportunities. We were forecasting an expectation that member growth would be in the low 20 percent range per year for the next five years on a global basis. I think that’s now out of date and already way too low.

When you look at your forecast and see that you’re coming in under, is it the real estate people that you’ve underestimated or is it growth in every segment?

We’ve missed international growth to the extent that it has grown. All of our forecasts we caveat by saying we’re not sure anybody knows what’s going on in China. Now, I’m going to say we’re not sure anybody knows what’s going on in China and India. Both of those places are kind of wildcards for a forecast, but certainly China is bigger than we thought it would be at this time. India is actually where we expected.

The main thing that’s driven it has been faster growth than we expected in the shift to big coworking spaces—spaces with more than a couple hundred members. We’ve been using 250 and that’s starting to be too low, in terms of the definition of big coworking. We’ve been surprised at how quickly the bigger coworking spaces have spread. And the spread across the U.S., out of large cities and urban areas into suburban areas and small cities is happening faster than we expected. Those have been the two main drivers.

When I look at our most recent forecast, I think the corporate sector can make such a big difference in such a short period of time. We’re still at about 1.4-1.5 million [shared workspace] members. If you get 10 companies that each move 25,000-50,000 employees which, with big companies wouldn’t be unusual, that affects the numbers too. Going forward, I think we’ve underestimated the growth rate of the enterprise sector.

What else is going on that may affect the industry?

Another thing is a change in accounting rules for lease accounting in 2019. The Financial Accounting Standards Board (FASB) has a new rule around putting long-term leases onto the balance sheet. Historically, one of the reasons you can sign a 10 or 20-year lease if you’re a corporation is it doesn’t show up on your balance sheet so it doesn’t affect your financial ratios.

Starting in 2019, it will now be viewed like debt. Investors and bankers will view that as debt so it changes debt equity ratios. The rule has been finalized but they haven’t finalized how long a term will be a long-term lease but it will probably be anything over three years.

If you’ve got a bunch of 20-year leases, that’s not good. The chief financial officer is going to tell the real estate people that they don’t sign any leases for real estate unless it’s absolutely necessary, beyond whatever that final rule stipulates, unless you really have an amazingly good reason. Corporations are waking up to that too.

Your focus is on small business. How has your work changed as the shared workspace industry has taken off?

We’ve had to shift a little bit of what we’re doing as we’ve had to better understand what large corporations are doing. There are a lot more partnerships between small businesses and large businesses, which have been major hirers of independent workers. The corporate workforce now is anywhere 25-40 percent contingent, up from less than half of that 10-15 years ago. We’re really starting to see it in terms of private talent clouds—corporations setting up their own Upwork-type systems.

The biggest shift for us is that we now have to spend more time understanding what big companies are doing and how that’s impacting our small business sector and our independent worker sector, including coworking.

We’ve long studied industrial structures. We’ve been following something we call the barbell economic structure where there is a small number of global giants in an industry, usually between three and seven, that tend to command well over 50% of the industry’s revenues—usually even more than that, in terms of industry profitability. Then there’s a growing number of very small companies and independent workers in the industry, and a hollowing out of mid-size firms that aren’t agile enough to compete with the small firms and don’t have the skill to compete with the big firms. That industry structure is clear in almost every industry we’ve studied and it continues to exhibit itself in that way.

Besides the next coworking forecast, what else are you working on?

We’re in the middle of a project to understand how independent workers view large corporations, in terms of what makes a large corporation attractive to work for. We call it the Client of Choice Project. Those are the highly-skilled independent workers that are in growing demand because of talent shortages and the worth of talent. Corporations are realizing they have to be an attractive place to work for those folks now, as opposed to just traditional employees. We’re in the middle of a deep dive project on that. We’ll be releasing that to the public, at some point.

We’re also doing a fair amount of work about how automation and AI are affecting knowledge workers.

Any key insights you’ve gained from studying automation and AI?

The big thing is that there’s all this noise about AI eliminating jobs, but we’re just not seeing it. Eventually it could happen, but we’re a long way away from it, based on our work. What we’re mostly seeing is that automation and AI is creating new opportunities for these accountants. They can add more value in their practice if the machine is doing data collection and aggregation and the first layer of analysis and syntheses.

That means in the case of accountants that they can spend more time being advisors for their clients instead of just collecting and dealing with the data. It’s going to require business model changes and, like any technological change, there will be winners and losers and not all accountants will be able to make that transition well. But, for the industry as a whole, the signs are actually very positive. For the last five years, the accounting industry has grown both revenues and profits much faster than the economy is growing, so the argument that the industry is going away, which is being made by some technologists, flies in the face of the data.

We come away pretty optimistic for knowledge workers that automation and AI, at least for the foreseeable future, will be used to augment their work and it will empower them to add more value.

I’m old enough to remember the beginnings of the spreadsheet. There were all sorts of articles and pundits saying we weren’t going to need anywhere near as many financial analysts. What really happened was, the spreadsheet enabled more analysis to be done more effectively and more cheaply. We now have about 10 times the number of financial analysts as we had when the spreadsheet was released.

I’m fairly optimistic on the knowledge worker side. When we get into the less skilled jobs, then the story changes and I get a little more pessimistic about it, but for knowledge workers, the automation is going to be good. We’ve been talking to college students and high school students and accountants in their twenties about how they view automation and they all view it as a wonderful thing. They see that it will remove the drudgery of being an accountant and turn them into analysts, which is what they want to do anyway. They’re not becoming accountants to add up columns of numbers or get a shoebox of statements and type it into the computer.

Subscribe to Allwork.Space
Tags: Coworking
Cat Johnson

Cat Johnson

Cat Johnson is an industry leading brand community coach for coworking space operators and visionary leaders. She runs Coworking Convos and The Lab, the club for indie space operators. She writes about coworking, content and community on her blog and weekly email and consults 1:1 with leaders creating a brand community strategy.

No Result
View All Result
OfficerRnD_ Flex Startup Program_Image_Square_AllWork_300х250
Survey

Latest News

Apprenticeships Could Solve High-Turnover, Low-Pay Crisis

Apprenticeships Could Solve High-Turnover, Low-Pay Crisis

September 28, 2023
India Experiences Rise In Eco-Friendly Workplaces

India Experiences Rise In Eco-Friendly Workplaces

September 28, 2023
U.K. Commercial Landlords Pivot To Flexible Workspaces On High Demand

U.K. Commercial Landlords Pivot To Flexible Workspaces On High Demand

September 28, 2023
Open Internet Battle Resumes: How Could Net Neutrality Revival Shape the Future of Work?

Open Internet Battle Resumes: How Could Net Neutrality Revival Shape the Future of Work?

September 27, 2023
Number Of Women CEOs Reaches New Record, Is The Hype Justified?

Number Of Women CEOs Reaches New Record, Is The Hype Justified?

September 27, 2023
Remote Work Trends Push London Office Vacancies to Three-Decade Peak

Remote Work Trends Push London Office Vacancies to Three-Decade Peak

September 27, 2023

News and Features

Business

Tech

Marketing

Design

Work-life

CRE

Coworking

Workforce

Daily Digest

Podcast

Resources

Marketplace

Events

Press Releases

FlexSpace, Coworking
and Office Space

Los Angeles

New York

Chicago

Washington, D.C.

Houston

Dallas

Miami

San Francisco

Atlanta

Philadelphia

Seattle

Austin

Company

About Us

Submit to Allwork.Space

Contact

Advertise

FlexSpace

Terms Of Use

FlexSpace FAQs

Privacy Policy

Connect with Allwork.Space

Twitter

Linkedin

Facebook

Instagram

YouTube

Apple Podcasts

Spotify

Google Podcasts

©2023 Allwork.Space  l  Exploring the FUTURE OF WORK® since 2003.

No Result
View All Result
  • News
  • Topics
    • Work-life
    • Workforce
    • Design
    • Tech
    • Coworking
    • Business
    • CRE
    • Marketing
  • Experts
    • Podcast
    • Opinions
  • Resources
    • Research + Reports
    • Marketplace
    • Find Office Space
    • Find Remote Jobs
    • Press
  • Events
  • About Us
    • Advertise
    • Submit to Allwork.Space
    • Contact
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00