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Cat Johnson – Coworking Marketing Maven
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Andrea Pirrotti-Dranchak – Competitive Advantage
Jonathan Price – CRE & Flex Expert
Jeremy Fennema – Tech Innovation Alchemist
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Here’s what you need to know today:
- WeWork Chisels Down Los Angeles Footprint
- Taking Notes From Google’s Hybrid Policy
- Deskimo Isn’t Competing With The WeWorks Of The World
- The Top U.S. Cities For Remote Workers
- Why Do Workers Want To Resign From Their Jobs?
- A Variety Of Coworking Options Are Emerging
WeWork Chisels Down Los Angeles Footprint
WeWork is continuing on its journey of cutting down its footprint, this time by dropping a portion of its space in the Hudson Pacific Properties’ Arts District building in Downtown Los Angeles.
WeWork occupied the entire building on 1019 East 4th Place, an adjacent parking lot and office building on 1003 East 4th Place, totaling 102,963 square feet.
Now, plant-based milk manufacturer Califia Farms will take over 29,440 square feet of space at The Maxwell, where it will occupy two floors of space at 1019 East 4th.
Last March, WeWork also canceled its long-term lease at another Los Angeles office building owned by CIM Group.
Taking Notes From Google’s Hybrid Policy
Returning to the office seems more and more plausible as Covid cases in certain regions fall and vaccinations continue to be distributed.
However, transitioning back to in-person arrangements may not be as seamless as some employers had hoped. In fact some are wondering whether it’s worth trying at all, but some tech companies are making the attempt to better support employee needs moving forward.
Google, for instance, is trying to resolve this challenge by allowing employees to come back into the office three days each week. Being one of the most recognizable tech companies in the world, this move sets a precedent for how all Silicon Valley-esque companies should approach the future of the workplace.
The company’s hybrid policy aims to seamlessly meld remote and in-person employees by creating meeting spaces, coined Campfire, that make meetings more immersive for all workers no matter where they are located.
Additionally, Google is designing a variety of spaces, such as outdoor areas, to help teams collaborate easier in a safe environment and ease feelings of anxiety that people may have about returning to the office.
Deskimo Isn’t Competing With The WeWorks Of The World
Deskimo is aiming to make its coworking offerings a direct competitor to Starbucks and other casual meeting spaces, rather than major industry operators such as WeWork.
The company services people who mostly work from home, but need the occasional space to meet with people or get away from distractions. Deskimo partners with employers and is able to charge them by the time each of their workers spends at the space, rather than a monthly subscription-like model.
The company was founded by Raphael Cohen, former head of Rocket Internet Asia, and Christian Mischler, cofounder of food delivery service Foodpanda.
“Back in 2012, people were saying that food ordering is not going to work online, people just order on the phone or in person,” said Cohen. “What we learned from on-demand restaurant delivery, the shared market-based model, is very similar in that case to setting up with workspace partners.”
The company works with various property owners and prioritizes them in order, with the first being office spaces that are already configured for coworking, the second being hotels that have converted areas into coworking spaces and the last being social clubs and event venues.
Currently, Deskimo has around 50 properties in Singapore, as well as 40 in Hong Kong. Moving forward, it hopes to expand its services into both residential and business districts to accommodate people who want a meeting or workspace closer to their homes.
The Top U.S. Cities For Remote Workers
Rental home search platform Apartment List has used insights and data to rank the best U.S. cities for remote workers as more companies shift to more flexible arrangements.
The ranking was based on the prevalence of remote positions, housing affordability and access to urban and natural amenities.
The top 10 included:
- Provo, Utah
- Fort Collins, Colorado
- Boise, Idaho
- Raleigh, North Carolina
- Tempe, Arizona
- Austin, Texas
- Beaverton, Oregon
- Denver, Colorado
- Asheville, North Carolina
- Ann Arbor, Michigan
Additionally, Moneyrates.com found the cities that would save residents the most time and money if they worked from home. Using median commute times and wages from 2019, the study showed that in certain cases workers could save over $8,000, or the equivalent of 39 work days each year, by skipping their commute.
The top 5 U.S. cities where remote workers could save the most money include:
- Washington, D.C., where commutes can cost up to $34.42 each day.
- San Francisco, California, where commutes cost up to $34.28 each day.
- California/Lexington Park, Maryland, a suburb of D.C. where commutes cost up to $32.75 each day.
- San Jose, California, where commutes cost up to $32.18 each day.
- New York City, New York, where commutes cost up to $31.44 each day.
Why Do Workers Want To Resign From Their Jobs?
According to recent data from the Bureau of Labor Statistics, there is a clear upward swing in the job market. However, in the midst of this growth is also the risk of employees leaving their jobs to seek other opportunities that support their wellbeing.
In fact, Monster Worldwide’s most recent data revealed that 95% of workers are thinking about quitting their job for a new one. In short, the Great Resignation is no joke.
The past 15 months have caused workers to reevaluate their careers and how it relates to their own work-life balance. Because of this and their recent workplace experiences, more professionals are looking for positions that offer more flexibility and an optimistic future.
The poll of 649 workers showed that the main reasons people want to leave their jobs include experiencing burnout or the lack of growth opportunities.
“We’ve seen a fundamental shift in terms of the environment between where we were and where we are now, which reflects a lot more optimism and positivity around employees and the opportunities now available to them,” said Scott Blumsack, SVP research and insights at Monster Worldwide. “As we have seen employers add record numbers of jobs, they [employees] see there are opportunities out there, and they may as well start dipping their toe in the water.”
Organizations have a responsibility to their employees moving forward. Instead of trying to force operations to return to pre-pandemic normalcy, leaders need to accept that employees need flexibility, and they are more than willing to walk away from their current role to get it.
A Variety Of Coworking Options Are Emerging
After experiencing a major slump in the last several months, the coworking market is rebounding and could come back stronger than ever.
As more professionals get vaccinated and grow weary of working in their homes, coworking operators are positioning themselves as the perfect solution for those who don’t want to return to their main office full-time, but still need a place to retreat.
Even industry players like the Wing and WeWork, who have both faced intense scrutiny over the past year or so, are seeing their membership numbers bounce back. Now, major companies who want to cut down their own real estate footprint are turning to coworking firms to find an alternative office solution.
Aside from the obvious big names, other smaller competitors are popping up around New York and other areas.
For instance, take startup Codi, which has been referred to as the Airbnb of the coworking world. The San Francisco-based company allows hosts to rent out space in their homes to workers who want a change of scenery.
Other operators are tapping into a more casual market by transforming common social spaces, such as coffee shops, restaurants, breweries and other places where people commonly gather, but may see slower activity during the day.
Another example is Work From Kindred, which was founded by restaurateur Moshe Schulman who wanted to offer his restaurant in the East Village as a temporary workspace. On weekdays from 9 to 5, users can come into Kindred and have access to WiFi, coffee, power outlets and a bathroom for $25 each day.
