Flexibility in the workplace has become a common option for workers, but some firms are going further by becoming 100% remote so staff can work from wherever they please.
Young Professionals Are Blurring The Lines Between Work And Life
The line between work and life has started to blur as offices are going beyond simply providing typical workplace amenities and focusing more on hospitality and domestication.
Now, lifestyle companies have started partnering up with coworking spaces to meld wellness services with workspaces. For example, luxury fitness chain Equinox recently announced a partnership with coworking firm Industrious to include offices within their fitness centers. The first Industrious at Equinox location is expected to open up in Hudson Yards in Manhattan.
“Basically, people who own space are trying to figure how to keep people in them,” said Joel Kotkin, a presidential fellow in urban futures at Chapman University. “Particularly when the traditional work environment is disappearing—the idea of somebody having a cubby in an office—then you have to think of other ways to get people to occupy space.”
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Kotkin believes that more building owners will continue to find new ways to keep people in their spaces, and that is where one-stop shop, mixed-use spaces come in.
This has been driven by a cultural shift among Millennials, where their work defines their identities and is leading cities to change how they develop. More and more, young professionals are choosing to live in downtown areas where they are in close proximity to gyms, nightlife, work, and other daily amenities.
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Coworking firms, such as WeWork and Knotel, have been rapidly expanding their footprint in New York’s Flatiron District as it becomes the city’s hub for shared offices.
British brand Established & Sons have introduced four new furniture designs that aim to create a more comfortable workplace, while also being functional to homes.
Condeco’s newest research paper found that 41% of employers offer remote working, thanks largely in part to major technological advancements that are sweeping workplaces.
Industrious is partnering up with national retail and mixed-use developer Seritage Growth Properties to brings its coworking spaces into five of the retailers locations.
Companies have accepted that wellness in the workplace should be prioritized, but the trendiness of it can overshadow what is most effective — starting from the basics.
Sources have revealed that CBRE, the world’s largest commercial real estate services firm, is looking at 3 World Trade Center to house its new coworking brand Hana.
Hoxton Hotel is branching out from traditional hospitality services with the launch of its coworking brand Working From_ at its London Southwark and Chicago locations.
Speaking at the 2019 MIPIM conference, IWG’s CEO Mark Dixon said that companies of various sizes should offer some form of agility in order to attract and retain talent.
As the coworking space sector continues to evolve and grow, experts believe that there will be a 25% growth of these offices within retail properties through 2023.
Ryan Simonetti, CEO of Convene, believes that the firm sets itself apart from the competition by going beyond serviced workspaces and offering more hospitable amenities.