What new work culture looks like since COVID?
The future of work is here!
We spend approximately 90 000 hours of our lifetime working. It is therefore no surprise that COVID 19 disrupted our work culture – a prominent area of our lives. In March 2020, out of nowhere and overnight, workers had to adapt to new ways of connecting. Both professionally and working remotely. Although a notion of working pre-COVID-19 existed, working remotely was still unfamiliar territory for many. With anxieties about productivity and blurring the lines between work and home life. This way of doing things required a total shift in thinking and the ability to adapt quickly.
A new era of work culture
Futurists say that the pandemic merely accelerated what was already becoming the working culture norm. It also bought the concept of co-working office spaces to the forefront. A great alternative to purely home-bound working. Additionally, it provides a way for companies to re-evaluate their structures and cut back on bloated operating and administration costs. In fact, A 2020 study on coworking trends found that coworking spaces worldwide are set to double by 2024, estimating that the number of people opting for coworking over the next four years will climb to 5 million, an increase of 158% compared to 2020.
What is Coworking?
Coworking is defined as a ready-to-use working environment, whereby workers from different companies share office space. And they can enjoy a sense of community. This also allows cost-savings, flexibility, and convenience. As the use of shared infrastructure like utilities, internet connection and equipment, receptionist and custodial services all come together in one place.
The benefits
The projected growth in the coworking space is encouraging to see. Especially since the the commercial real estate and co-working sector took a huge knock at the onset of the pandemic. However, the need to offer virtual support and flexibility is rapidly growing. For those who don’t prefer working from home and since COVID-19, there is an increased interest in coworking spaces. With more businesses, big and small, realising its overall benefits. Coworking spaces are an ideal place to work remotely while continuing to social distance. Furthermore, a lot of companies have now introduced remote working into their long-term business strategies.
The way forward
A bigger awakening or ‘aha’ moment for businesses now, is that they are finally seeing how outdated the traditional office model is. It does not align with our modern lifestyles, consider individual needs, or necessarily promote productivity.
As we face an uncertain economy, it makes sense to work smarter, and this means exploring more affordable working solutions. Like for example, opting for flexible leases over fixed long-term commitments. Why pay for large overheads when you can pay for what you need as you need it. Especially in the age of virtual connection? You can rent meeting rooms and virtual offices that come fully equipped with all the tech frills by the hour. Or utilise casual hot-desking or semi-permanent spaces. This makes it easier for businesses to scale up or down when necessary.
The networking advantage
Interestingly we are now seeing a higher demand for co-working options from larger corporates and enterprises looking to decentralise their workforce and manage remote teams. More start-ups, freelancers, and SMEs which are critical to the growth and recovery of our economy, are also looking for collaborative environments that provide networking opportunities for them to grow their market share.
A work-life balance favoured by the workforce
On the other side of the coin, our new ‘normal’ has similarly prompted workers themselves to re-evaluate how they wish to work in the future, favouring companies that have taken the ‘leap’ to offer flexibility, accessibility, and promote work-life balance.
In operating three coworking office spaces across Cape Town suburbs (Claremont, Constantia, and Somerset West), it’s become noticeably clear to me how accessibility and proximity of the workplace impact this balance. This is another lesson and ‘aha’ moment businesses can take from the pandemic and a reason why coworking offices will only continue to thrive. By offering workers an alternative space to time-consuming trips to the CBD, we are considering the holistic wellbeing of the workforce.
Coworking is no longer the future of the working world, it is the present, and the potential for growth in the sector has never been higher.
Venture Workspace opened its third branch in Somerset West to cater to the rising demand for coworking solutions and the new work culture. The space is located at the trendy Sanctuary Mall, giving workers an all-inclusive experience for both work and play. The coworking packages include hotdesking, fully serviced shared and private offices, virtual offices, and meeting rooms. You can look forward to all utilities, internet connection, and reception services with the bonus of free parking.
