- Home coworking is the practice of sharing a workspace with other professionals, often from different companies or industries, within a home setting.
- This arrangement allows individuals to enjoy the benefits of a professional office environment while still maintaining the comfort and convenience of working from home.
- On the other hand, those who enjoy a lively office culture and networking opportunities may find coworking centers more appealing.
As we navigate the post-pandemic world, the landscape of work continues its significant transformation. The traditional office environment is being replaced by three major trends: remote working, home coworking, and coworking centers.
Each has their unique advantages and are growing at an impressive pace. However, the question arises: which way of working is growing the fastest?
Working from home has seen a substantial rise in popularity, especially in the wake of COVID-19. As of 2023, 27% of U.S. employees now work remotely, a fourfold increase from pre-pandemic times. Furthermore, 12.7% of full-time employees work from home, while 28.2% work a hybrid model. By 2025, it is projected that as many as 36.2 million Americans will be working remotely.
Coworking spaces are also experiencing significant growth. The North American coworking space market is currently valued at $4.6 billion, and is expected to increase in the coming years. By 2024, almost 5 million people are estimated to be working from coworking spaces, marking an increase of 158% compared to 2020.
Coworking spaces offer a professional working environment that replicates an office setting, providing a perfect setup for meetings and client interactions. They also foster a sense of community, allowing workers to interact with like-minded individuals and those with different perspectives. Moreover, coworking spaces offer flexibility, enabling more of the workforce to adapt to changing demands. However, the choice between home coworking and coworking centers often depends on individual preferences.
What is home coworking?
Home coworking is a concept that has gained popularity in recent years, particularly due to the rise of remote work and the need for flexible working arrangements. Similar to the school trend of having a “study buddy,” it refers to the practice of sharing a workspace with other professionals, often from different companies or industries, within a home setting. This arrangement allows individuals to enjoy the social and collaborative benefits of a professional office environment while still maintaining the comfort and convenience of working from home.
“Overall, home coworkers report the practice can provide some of the best elements of both home and office,” according to the BBC.
Those who prefer fewer social interactions may find home coworking more suitable, as it still allows for collaboration but is more private. On the other hand, those who enjoy a lively office culture and networking opportunities may find coworking centers more appealing. In terms of growth potential, both home coworking arrangements and coworking centers are set to expand.
However, the rate of growth may depend on several factors, including technological advancements and changes in organizational policies and employee preferences. While it’s challenging to predict which will grow faster, it’s clear that both home coworking and coworking centers will play an interesting role in shaping the future of work.
Whether it be solitary remote work, home coworking, working from a coworking space or working from the office — the future of how we get work done will be increasingly varied.