As companies try to figure out what to do with their workplaces while accommodating flexible and hybrid work models, coworking is plugging the gap.
It provides the flexibility for companies to right-size their workspace needs, while providing a place for employees to escape the isolation of working from home and reconnect with their colleagues.
For some companies, such as Miriam Dushane’s Alaant Workforce Solutions, it solves the problem of paying rent on a half-empty traditional office.
“Frankly, it’s probably one of the best decisions we ever made,” Dushane said in an interview with FastCompany.
It enabled Dushane to give up the large, costly office space and relocate to a smaller coworking space nearby. Even though some employees continue to work from home, it provides a place for team collaboration and connectivity.
They’re not the only company making the switch. In fact, this trend is driving renewed take-up in coworking and flexible office space. WeWork reported its occupancy levels reached 72%, while IWG added 2 million new members over the past year.
IWG is now expanding its portfolio and plans to add another 1,000 locations over the next 12 months.
“It’s one of those seminal moments that happen from time to time. It starts to change the geography of countries,” says Mark Dixon, founder and CEO of IWG. “Last time that happened was when they came up with railways and highways.”
