After WeWork revealed a positive growth in the first quarter of 2019, experts are still concerned about how sustainable the company would be in the face of a recession.
How does workplace design affect employee satisfaction?
A 2019 Staples Workplace Survey revealed that workers continue to resist the one-size-fits-all mentality when it comes to office design, particularly open office plans. 52% of employees said that the open office layout creates distractions.
Workers crave choice when it comes to their work environment, with 90% of them saying that more flexible work arrangements and schedules would increase morale. Even more telling is that two-thirds of employees (about 67%) said they would consider leaving their job if work arrangements became less flexible.
“Employees no longer embrace the traditional 9-to-5, and instead seek an environment that accommodates the fact that their needs may change day-to-day,” said Chris DeMeo, vice president of Staples Brand Group. “It may be a leap of faith for offices used to the old ways of doing things, but it’s one that could yield dividends in terms of recruitment, retention, and productivity.”
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In addition to flexibility, employees want a healthy place to work, with 41% of workers saying they would take a 10% pay cut for a job that cares more about their well-being.
Still, employers have a ways to go when it comes to meeting these needs. About 42% of employers have a wellness program and a measly 22% of workers said their offices have a dedicated wellness room.
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Coworking spaces are the perfect hub for sharing ideas and collaborating with like-minded workers, but what happens when the lack of privacy leads to corporate spying?
According to Coworking Resources, coworking spaces are continuing steady growth this year as firms continue to gear their services and amenities towards Millennials.
Young adults have started choosing the all-in-one model when it comes to work and favoring workspaces that also provide lifestyle amenities such as gyms, cafes, and more.
Codi is a startup out of the Bay Area that allows residents to apply as hosts and provides remote workers access to apartments or houses to be used as coworking spaces.
Ahead of its initial public offering, WeWork is shifting their narrative so public market investors see their losses as investments in an effort to avoid the Uber effect.
Kr Space, WeWork’s biggest competitor in China, has raised $145 million in a new funding round led by IDG Capital as well as Gopher Asset Management and Yixing Capital.
Coworking operator Industrious will open its first workspace within an Equinox fitness center at Hudson Yards in New York City, taking up 44,000 square feet of space.
Coworking provider Spaces has announced that its fifth Australian location will be located at Charter Hall’s newly redeveloped, luxurious Raine Square in Perth.
New York-based coworking operator Knotel will open its first Dublin location by the end of the year as it continues its major expansion across several European markets.