A new report from Cushman & Wakefield indicates that coworking spaces are not going anywhere despite the current climate of commercial real estate.
“The Changing Role of Coworking in the Workplace Ecosystem” report looked at properties that allow workers from various companies to share a workspace
“A major draw of coworking—its social factor—has become a drawback during a health crisis,” the report said. “As providers said goodbye to the popular ‘happy hour’ and hello to social distancing, many were wondering how a sector focused on socialization and community would survive through the pandemic.”
In order to be more sustainable, coworking spaces need to rely on taking strict health and safety precautions such as distanced workstations, temperature screenings, increased sanitation practices and decreasing access to shared and open spaces.
If operators prepare accordingly, they may come out of the economic downturn triumphant as companies look to adopt a more hybrid work arrangement that includes both in-office and remote working. Those who do not wish to work from home may find solace in a coworking space near them that still helps cut down on lengthy commutes.
Adopting coworking can also help companies reduce their own real estate footprint, thus cutting down on overhead costs of a large workspace.