Despite the global coworking market taking a massive hit due to the COVID-19 pandemic, operators remain optimistic about the future of the industry.
“In March and April, new members were nearly zero as everyone was assessing their workplace situation, trying to make do at home, and making their best guess as to how long shelter-in-place would last,” said Keith Warner, managing partner at San Francisco-based Pacific Workplaces.
Now, workers are seeking on-demand workspaces that are available to them whenever necessary. Short-term leases are just the tip of the iceberg.
Additionally, Pacific Workplaces is finding that tech companies in the Bay Area are looking to support their remote workers by turning to flexible offices.
According to Elton Kwok, head of California for WeWork, the company has seen a spike in demand from individuals and companies looking to accommodate a hub-and-spoke model.
This trend is just one of many that companies are adopting in order to pivot to a more flexible workforce as the future of public health remains in limbo.
Even more than that, some organizations have found that working flexibly has improved business operations and left employees feeling more satisfied in their positions.
“We have always benefited from hourly, daily and month-to-month deals, which is why over 60% of our members are month-to-month or shorter,” said Warner. “We benefit now with the increase in demand by having been prepared in advance.”
