By the end of 2020, the remote workforce is projected to comprise nearly 75 percent of the U.S. labor pool. As employees continue moving out of the office, many business leaders have turned to coworking spaces as a cost-effective solution to accommodate more remote workers.
Mirroring the rapid growth of the remote workforce, coworking franchises have also seen exponential market gains in the last few years. While demand for more flexible working options continues to climb, so will the vast need for shared workspaces.
Here are three reasons why remote workers are leaving home for coworking spaces:
1. Increased Employee Collaboration and Job Satisfaction
Remote work provides employees a much greater degree of individual freedom and flexibility with respect to their schedule and environment. And, while working from home can seem appealing, remote workers are increasingly leaving their homes for coworking spaces.
Working from home can be isolating, and coworking spaces present a more dynamic alternative that allows for more socialization. These spaces provide countless networking opportunities for professionals looking to build connections and strengthen their business.
By interacting and collaborating with a large group of diverse individuals, remote workers are also better able to stay engaged and find value and enjoyment in their work. They can connect with professionals in their own industry as well as other verticals, discussing ideas and receiving valuable advice from unique perspectives.
These social interactions are just as good for business as they are for an employee’s mindset. People who belong to coworking spaces report levels of enjoyment that approach an average of six on a seven-point scale. The strong ranking is both unprecedented, as well as notably higher than reports from workers in traditional environments, according to the Harvard Business Review.
2. An Environment that Minimizes Distractions and Boosts Productivity
In addition to higher job satisfaction, engagement and innovation, studies also show that the coworking environment supports productivity.
The majority of individuals in coworking spaces said they were better able to meet deadlines, in addition to being more focused and creative, according to a recent global survey. This is likely driven by remote workers’ greater autonomy and workplace engagement, as well as the unique atmosphere created by shared workspaces.
Flexible workspaces create a familiar workplace environment for remote employees, where they can be surrounded by other individuals hard at work. The comfortable yet professional atmosphere cultivates a sense of community at the same time it promotes productivity.
Plus, in a professional coworking environment, remote workers are largely free from distractions and disruptions. When working from home, it can be tempting to get distracted by household chores or family interruptions. Moving to a coffee shop or other public setting is rarely any better, with endless disruptions from casual conversations and a bustling atmosphere. Unlike other remote work options, coworking spaces provide a focused, professional environment away from the traditional office.
3. Coworking Spaces Provide a Professional Environment with Upscale Amenities
Before coworking spaces took the market by storm, remote workers accepted the trade-off of eschewing professional amenities for greater flexibility.
For many, giving up access to high-speed Internet and private office space was inconvenient, but worth conceding for a better work-life balance. However, coworking franchises offer a win-win solution for employees to enjoy the advantages of remote work and professional-grade amenities.
Many coworking spaces provide members with 24/7 access, so they can use the professional space whenever it best fits in their schedule. Included coffee, Wi-Fi, and business services represent other value-adds for remote workers. Additionally, many coworking spaces offer access to conference rooms and the ability to attend and host events onsite.
As an increasing number of remote workers leave their homes in favor of coworking spaces, demand for shared workspace will continue to rise. And, franchising offers the perfect opportunity for investors interested in joining the exciting coworking industry.