The Work-life Insight

Benefits of Shared Office Space: Business Beyond Boundaries

Today, the traditional work environment is turning in on its head. Companies are switching to modern work practices. The switch to coworking models increased dramatically after the pandemic, but coworking has been effective before COVID-19. Shared workspace has shaken up business industries. Yes, co-working or shared office space have certainly opened up the minds businessmen and businesswomen to experiencing a flexible and rewarding work environment. Statistics reveal what a trailblazer coworking is.

Recent studies suggest that the estimated number of coworking users will rise to 3.8 million in 2020 and by 2022 it will touch 5.1 million. With 14000+ shared office spaces working around the globe and with increasing demands, the number of setups are expected to increase exponentially as more professionals take advantage of the benefits of shared office spaces.

What are Shared Workspaces?

These are collaborative communities and work homes to startups, creative individuals and SMEs. Shared workspaces are the new-age of how people work. They provide a common ground for freelancers, professionals and remote workers and cut costs by avoiding renting fees. Revamped work cycles will allow entrepreneurs to thrive, which is great for the community and economy. Pulling in more wealth while minimizing expenses always sounds good to new and growing companies!

Some of the top benefits of shared office spaces include:

Minimal Operational Cost‍

You get to do away with the many piling bills of renting a brick and mortar office when you use a shared workspaces instead. Attractive discounts and offers on membership fees make coworking spaces is a saving grace. Small startups and individuals struggling to make way in the corporate world can tackle their goals without exorbitant finances. With no worries of overhead costs, internet connectivity, housekeeping and office equipment, professionals can devote more time and energy to scaling up.

‍Better Networking

‍Imagine going to a workplace sans office politics and hostile co-workers…yes, shared office space offers members an opportunity to meet like-minded people from different industries and professions. This not only helps to boost your confidence, but also fosters a work environment of growth, learning and productivity.

‍Access to Shared Spaces

‍Ergonomically designed, with professional conference rooms, meeting halls, lounges, live reception, in-house pantry and sunlit recreational spaces to unwind are all available at a shared office space. Whether you prefer cubicles or an open desk, different workstations you’ve got options for your office setting. You can keep changing your work corner every few months to match up with your mood or changing projects too.

Flexibility and Freedom

‍A regular work structure can sometimes become burdensome when factors like unpleasant coworkers and a difficult employer come into play. However, at shared workspaces there’s freedom to choose your favourite sunlit corner or the extra spacious centre space. So, whether you prefer working with a mug of coffee by your side or crunching numbers while strolling down the lounge, you get to decide how your workday looks and feels.

‍Professional Identity

‍Working from home or at nearby cafes can hinder a professional appearance when dealing with clients. Shared workspaces have state of the art conference rooms, meeting halls and lounges that’ll give your clients a great impression of you business and . Often located near marketplaces or in the heart of cities and towns, coworking spaces offer easy connectivity to their members and prospective clients.

‍Emotional Growth

‍Remote workers can easily fall into the ‘loneliness epidemic’. Vivek Murthi, the former Surgeon General of the United States, points out that loneliness is not just a social problem but also a health problem. Harvard Business Review reveals that 84% respondents of their survey reported improved work motivation and engagement. One of the many advantages of shared workspaces is that it offers a place of great emotional and mental support. Members get a chance to interact with high spirited professionals and be a part of a community that promotes learning, upskilling and guided mentorship. Problem-solving and creative thinking comes easy in such an environment where each one inspires the other. No wonder, a recent study suggests that 83% of the co-working members report that they are happier since they joined a co-working space.

‍Coworking Brings Structure and Productivity

‍Your energy levels fluctuate during the day and your workplace should be smart enough to optimize on your productivity. One of the biggest benefits of shared office spaces is that they provide a structure to your day which can get lost working from home. It’s hard to avoid the easy distractions when your place of rest is also your office. The smart designs of shared workspaces tap your positive energy and enhance them through complementary factors like bright sunlit desk space, soothing background music and regulated room temperature to bring out your best.

‍Shared Office Spaces are the Step Ahead

‍Enveloped in high satisfaction levels, shared workspace is the new pill to old work challenges. Building community, reducing isolation, and promoting better work engagements, it is not a workspace industry but a happiness industry. What started as a faint idea about fifteen years back is here to stay and change the work culture for many decades ahead. In the wake of the recent COVID-19 pandemic and with growing concern towards sustainable working with more and more corporates pushing employees to opt to work from home, shared office space is indeed the next big business solution. A growing number of co-working spaces are a good testimonial to this fact and the future will perhaps see more customized and tailor-made shared workspaces designed to fit every industry type. Besides offering great value to side hustlers and freelancers, shared spaces are those versatile and valuable assets. They can alter a country’s dynamics in multiple ways. From nurturing the economic growth to stimulating new work opportunities, it is an answer to the crucial problems of a nation.

Nonetheless, with a promising future and an established past, shared office spaces are clearly one of the best options for a workspace.

A Shift to Remote Work Will Lead to Strategic Miss in Corporate Goals

min read

6/7/20

When Uber decided to use WorkSocial as their launch site for Uber Eats they may have been onto something when they banned remote work and wanted the deployment of the delivery company from a private office space in NJ.

A survey published in April shows that nearly 50% of the U.S. workforce had gone remote as a result of the novel coronavirus. Based on a few months of data, companies are now considering a major cultural change by instituting permanent work-from-home policies. However, corporations as productive, well-oiled remote machines could easily turn out to be a pipe dream.

Facebook in May said it expects it could have half of its employees working remotely in the next five to 10 years—a policy Chief Executive Mark Zuckerberg said he thinks will be “the most forward-leaning” at his company’s scale. He has cited stable productivity from at-home employees so far and the promise of untapped, potentially less costly remote talent as compelling benefits. Others weighing or instituting permanent remote policies include Nationwide, Shopify, Barclays Capital, Twitter, and Mondelez International.

Early data certainly suggests some upside: Freelancing platform Upwork has reported one-third of hiring managers in two surveys found productivity increased in April from November as a result of forced remote work, bolstered by the lack of commute and fewer unnecessary meetings. Similarly, a recent survey by Facebook found more than half of employees reported being at least as productive at home as in the office.

But there are concerns, too: Mr. Zuckerberg said last month that half of his employees “really just wanted to get back to the office as soon as possible,” and suggested a lesser feeling of alignment without free-flowing conversations and in-person connections.

“It’s unclear at this point whether we’re just all drafting off of existing bonds that have developed before it started,” he said.

General attitudes toward remote work have been changing. Ms. Mayer’s move was controversial back in 2013, though she voiced legitimate concerns over lost productivity and connectivity. Today, working from home is considered less a boondoggle and more a flexible arrangement that can, at the very least, save employees time and money.

But even some remote-work pioneers are wary. Tim Ferriss, the author who championed the benefits of working from home in his 2007 bestseller “The 4-Hour Workweek,” cautions that companies shouldn’t assume employees under lockdown “will be equally productive once Starbucks, lunches with friends, happy-hour drinks and other temptations return to day-to-day life.”

Mr. Zuckerberg said he doesn’t expect to realize significant savings as a result of the shift because remote workers will need added infrastructure at home and will likely have to travel more. He also said he may need to hire additional employees to complete the same tasks if productivity declines at home.

A permanent shift isn’t appealing to all companies—even to Facebook’s social-media peers. Snap Inc. CEO Evan Spiegel says he is “avoiding making sweeping statements that project far into the future in such a rapidly evolving situation.”

Major corporations rushing to turn lockdown lemons into lemonade could get hit with a sour aftertaste.

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About Stereotypes and Prejudices

min read

6/6/20

How to Lead in a Crisis Situation

min read

6/4/20

When Napoleon marched an army of 685,000 men into Russia in June 1812, he was at the height of his power.

By November, he retreated home with only 27,000 soldiers, and France’s dominance in Europe was shattered.

How did he go from an almost invincible position to a disastrous crisis in five short months? Easy, because he was a leader who broke every rule of crisis management.

On New Year’s Eve 2019, it was shaping up to be another business-as-usual year. Of course, no one truly knows what the future holds, but nobody expected that 7 billion people would be stuck indoors, limited from the outside world we once roamed freely.

How our leaders and ourselves act in the next several months will determine how we weather this a once-a-century pandemic.

Thankfully, history gave us six lessons to teach leaders about triumphing over crisis.

1. Learn from history.
“When you’re going through hell, keep going” —Anonymous

The best way to deal with a crisis is to be well prepared for it. History repeats itself, and there are almost no unprecedented situations. Effective leaders are like good Boy Scouts: prepared for anything. They know that the arrival of a crisis is a matter of “when,” not “if.”

How to fail:
Napoleon did prepare for his campaign by studying prior attacks on that country, but he failed to use that information.

He knew that, in the Swedish invasion of Russia 100 years earlier, supplying the troops was tough because of a poor road network, and because the Russians used scorched earth tactics—hiding or destroying cattle and crops that his invading army would need to survive.

Napoleon arranged for a massive logistical campaign, but still counted on his army’s ability to forage in enemy territory.

He also knew that the harsh Russian winter devastated the Swedish forces. Amazingly, he equipped none of his soldiers with winter clothes, even as cold weather approached. Although he studied history, he didn’t learn from it.

How to win:
Taiwan is only 130 kilometers (80 miles) from mainland China, and each year, millions of travelers fly back and forth. Many would assume that the island would be one of the places hardest hit by COVID-19 due to its proximity to China, a nation devasted by the disease.

Recently, Taiwan reports only 252 confirmed cases, and two deaths. How did they avoid a much larger crisis? The country was hit hard by SARS in 2003 and again by H1N1 in 2009, so its leaders were prepared. They learned from history.

The World Health Organization alerted the world to a new and potentially serious viral outbreak on December 31st, 2019, and according to one report, Taiwanese officials were boarding flights to China the same day to study the problem. Five days later, visitors from Wuhan were being screen as they deplaned.

Taiwan had studied history well and took this new threat seriously. Being prepared, their government and health officials able to move quickly to minimize the crisis.

2. Embrace reality.
“There is nothing more important than understanding how reality works and how to deal with it.” —Ray Dalio

Humans want to avoid pain and seek pleasure, and so our egos are constantly on the lookout for information that heightened sense of good qualities we generously give ourselves. Anything otherwise, be damned!
But sometimes, reality sucks. The temptation to indulge in delusion is strong, and we pretend that a best-case scenario is a likelier outcome than the approaching catastrophe.

Reality thinks our delusions are cute, pats us on the head, and does its own thing. In order to effectively handle a crisis, we need to see this objectively. If Napoleon had, who knows how his outcome might’ve resulted.

How to fail:
Soon after the French army marched into Russia, it became obvious that a crisis was building. Thousands of supply wagons were supposed to accompany the troops east, but they lagged from day one.

Napoleon knew that even thousands of tons of transported supplies wouldn’t feed all his troops; he expected they would pull their weight and loot supplies from villages as they passed, like in previous wars. But as his soldiers discovered one burned out village after another, it was clear that reality was not cooperating.

If Napoleon did see reality, he chose to ignore it, and engaged in a fantasy that his oxcarts could supply his army long enough to win.
Napoleon might have dug in and focused on a resupply effort, but instead he pressed on into a worsening crisis.

How to win:
Former General Electric super-CEO Jack Welch was known for walking into crisis meetings and asking, “What’s the reality?” and it was the secret of his success. He knew that the truth is a powerful tool in solving any crisis, like our pandemic.

When Taiwanese investigators returned from Wuhan in early January, the country’s leaders had the information necessary to see reality, but also had the courage to accept it. They began treating this as a crisis.

It was Taiwan that, on March 9th, urged the World Health Organization to label this coronavirus outbreak a pandemic, in hopes that the world would take this threat more seriously. The WHO director-general originally rejected the idea, only to reverse course and apply the pandemic label on March 12th.

Great leaders know that solving problems requires a fearless willingness to act based on the facts. Only then can we act effectively.

3. Follow a strategy.
“In reality strategy is actually very straightforward. You pick a general direction and implement like hell.” —Jack Welch

When you have the courage to take off your rose-colored glasses and face a crisis honestly, you collect valuable information about the situation, and a potential solution will often present itself. The path to that solution will become your strategy—a powerful tool for any leader.

If you want to win a battle, you need to execute a plan that is likely to bring victory. And what crisis isn’t a battle?

Many leaders fail to create, let alone stick to, a strategy in a crisis; instead, they’re buffeted from one daily challenge to another, always reactive, and never in control. That’s a recipe for a war that ends in death by a thousand cuts.

How to fail:
Napoleon did have a strategy as he crossed into Russia, one that worked in numerous prior campaigns: Move fast and crush the enemy army. But the strategy was terribly flawed, both because he failed to learn from history, and failed to see reality clearly.

From history, he could have expected that the Russians would withdraw, and so a decisive battle would escape him.

From reality, he should have seen that the Russian roads would prevent his supplies from keeping up with the troops, and that the Russians would use scorched earth tactics, robbing his army from the supplies needed to stay alive.

Within weeks it was clear that his plan was out of line with reality, and that a crisis was worsening.

How to win:
Acknowledging this crisis as a major threat, Taiwan knew it needed a comprehensive plan to prevent infections and deaths. Its strategy has been to identify and contain as many domestic cases as possible, and it was confident of success because of what it learned from previous outbreaks, and from being honest about the situation.

Every action the country has taken since early January has supported that strategy: integrating its national health and customs databases to flag symptomatic travelers, tracking quarantined individuals, and literally sending investigators to find sick people.

Taiwan’s strategy is working, and their model is one western civilizations could use adapting to.

4. Take decisive action.
“Now if you are going to win any battle you have to do one thing. You have to make the mind run the body… The body will always give up. It is always tired morning, noon, and night. But the body is never tired if the mind is not tired.” —General George S. Patton

OK, you’ve prepared for this crisis by studying history; you’ve looked at the facts without deluding yourself; and you’ve used that reality to inform your strategy.

Now it’s time to act.

A crisis is a time of extreme difficulty, and so extreme effort is the only suitable response.

We often forget about the essential workers. Many work extremely long workweeks with their team, sacrificing their time and safety for the betterment of their community in crisis. Massive action is not sustainable forever, but there’s a time and place for it. A crisis qualifies.

How to fail:
Napoleon’s calling card had always been decisive action. In the early stages of his Russian invasion, progress was swift. The French Grand Army’s initial crossing of the Niemen River almost cut off Russia’s 6th Corps, nearly annihilating 12,000 men.

Only four days after the river crossing, the French entered Vilna, headquarters of the Russian Army, led by the Russian Emperor, Alexander himself.

But the French army wasn’t fast enough: It arrived just one hour after the Russian evacuation. They found Vilna’s supplies, and the bridge ahead, destroyed.

Napoleon’s decisive win slipped through his fingers by a matter of an hour. Later in the campaign he was thwarted again, this time by his own brother, Jerome, whose army’s slow advance allowed Russia’s 2nd Army to escape unscathed. It would be the same army he faced months later in the costly Battle of Borodino.

How to win:
Taiwan knew that a perfect, elegant strategy is worthless without concise execution. The country has consistently been ahead of others in combating this virus, and the results show.

Before the end of January, it had activated its epidemic command center, banned travelers from Wuhan, barred its own people from traveling to China, and set up electronic monitoring of citizens in quarantine. In contrast, most of the world had not even started screening tourists at their airports.

On March 19th, Taiwan went further, banning all foreigners from entering the country, while it looks like many nations have ruled that out.

Speed is crucial in a crisis, and in the case of a pandemic, even a delay of hours can mean the deaths of hundreds more—something Italy is tragically demonstrating now.

5. Be flexible.
“Be clear about your goal but be flexible about the process of achieving it.” —Brian Tracy

If the strategy isn’t working, ask yourself: Is this because I haven’t given it enough time to play out, or is the strategy wrong? Knowing the answer isn’t easy; it’s more an art than a science, a skill that comes with experience.
Still, in many cases the situation will scream at you that your strategy is flawed and that you need to adjust course.

How to fail:
Napoleon was objectively an arrogant leader who underestimated the enemy, so he chased the Russians for 600 miles. But by September of 1812, the French never got their decisive victory.

He hoped to pin down the Russians first, right inside the border, then, before reaching Smolensk, then, at Borodino. But after passing each of those checkpoints, the enemy army was still mostly intact and taunting him, just out of reach.

His original strategy never had him moving past Smolensk in 1812, but he pushed on anyway, with winter approaching, like a man at a Blackjack table playing “just a few more hands” because his payday is only around the corner. By September he marched all the way to Moscow, a city deserted of inhabitants, but also of much needed supplies.

His strategy had clearly failed, but Napoleon occupied the city for a month, waiting for the Russian messenger with the note of surrender. He never showed.

How to win:
As long as Taiwan’s strategy was delivering results, they stuck to the plan. Until March 19th, the country had only around 100 reported cases of the virus, compared to its Chinese neighbor, with 81,000.

A day later, 27 new cases cropped up, with new cases in the double digits reported every day since then. What went wrong? Most of the new cases were imported from returning travelers. Reality had changed, and flexibility was now the order of the day.

Taiwan’s government immediately counseled its citizens not to travel abroad (apparently a few people missed the original memo), its capital city prepared for a lockdown, and flight transfers through nation’s airports were banned.

The country hasn’t yet radically altered its strategy, but it will be interesting to see whether that changes if the spike in new cases can’t be controlled.

6. Set an example.
“Example is leadership.” — Albert Schweitzer

A leader’s skills are truly tested during a crisis. For honorable people it will bring out compassion, integrity and courage. Unethical people will take advantage of the situation and start hoarding food and supplies to sell at a profit.

If you want to lead yourself and your team successfully through a crisis, you need to set an example for others to follow. A crisis requires that everyone to put forward their best efforts for the sake of the people, that goes especially for leaders.

How to fail:
By October 1812, Napoleon had dithered in Moscow for a month, waiting for a peace treaty that never came. The city had been abandoned by its inhabitants, and three-quarters of it burned to the ground and looted.

Napoleon blinked. His army had dwindled to only 100,000 men, and with a brutal winter approaching, and the Russian army waiting to counterattack, he made the dishonorable decision to… run away.

When the Russians re-entered the city, they found that the French had blown up the Kremlin in an act of spite, defiled churches and left the dead unburied in the streets. Halfway home, news of a coup-d’état in Paris spiked Napoleon’s panic, and he abandoned his army to rush home to protect his throne.

Indecision, cowardice and pettiness is not a good look for a leader, and Napoleon’s example no doubt crushed his soldiers’ morale, and worsened the crisis.

How to win:
Good leaders won’t dither, panic or abandon the troops in a crisis. They demonstrate calm, communicate clearly, listen to their team and inspire them, and admit responsibility for mistakes.

The Taiwanese leadership did not tell its public that coronavirus discussions were “classified”—in fact they were unusually frank about the situation. Early on, both the minister of health and the vice president (who is luckily an epidemiologist) began holding press briefings daily, and the president’s office issued regular updates.

Unlike too many politicians around the globe who have quietly disappeared into self-isolation, Taiwan’s minister of health personally took command of the country’s Central Epidemic Command Center. That’s leadership!

Setting an example to follow not only gave the public clear instructions that has reduced the spread of the virus, but kept citizens’ morale up, and government approval ratings high.

Now’s your chance.
“I’m not a coward I’ve just never been tested. I’d like to think that if I was I would pass.” —The Mighty MightyBosstones

This is a call to all Stoics, Buddhists, new-age enthusiasts, self-described hustlers, go-getters and those who have ever aspired to greatness:
This is the chance you’ve been waiting for to show us who you are.

Nobody would wish this global pandemic on their worst enemies, and all good people of the world are grieving the mounting fatalities. We all wish the nightmare was over.

Yet here we are in the middle of the greatest crisis in a hundred years, and whether we like it or not, it will show each one of us who we truly are.
Are we sad, cowardly individualists—every man for himself, sitting on our hoard of guns and toilet paper—or the pinnacle of evolution, strongest together, looking out for each other?

Each one of us can choose to be a leader, in our own way, and in our own spheres of influence. Now you have the roadmap.

Let’s see who’s up to the test.

Credit:
Post Author: Michael Pietrzak
Website: www.success.com

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WHAT IS WORKSOCIAL OFFICE SIGNAGE POLICY?

The Four Essential Traits of Passionate Leadership

min read

5/28/20

At some point in your career, you most likely worked for a boss who was not inspiring. Yes, they are a boss, but not a leader, and neglected to provide room for excellence in your work. You weren’t able to operate at your full potential due to the lack of support or even the encouragement to do so.

Bad bosses encourage business leaders to learn from their mistakes. Leadership is about prioritizing your team’s success and pushing everyone to their highest potential. Good bosses motivate and encourage each employee to perform well in hopes of advancing to the next level.

This begins with passionate leadership. These are four essential traits to be a passionate leader. These traits will enable you to inspire your team to achieve greatness.

1. Transparency and Connecting with the Team
Leadership is more than just telling people what to do. Effective leadership culminates from connecting with your team, the people that you are responsible for.

Many organizations aren’t doing a great job of connecting with their team. They overlook the importance of creating good company culture. Transparency is the first step in connecting. To improve involves getting down to the root and analyzing your own character. Are you truly able to be humble and honest?

Irrespective of how good you are, there is always room for improvement. Transparency begins by being genuine and upfront. Be open and share some insights about the person you are. Then you can encourage your direct reports to follow suit enabling them to open up. It is imperative that your subordinates believe that they are interacting with the real you. Leading by example necessitates sincerity coupled with openness, humility and integrity.

Having accomplished the above it is time to use your skill of tactical empathy. Your team relates to you better as they believe that you are able to view their perspective on things. Tactical empathy is a crucial core talent for all leaders to be able to relate with their team. Chris Voss, American businessman and author, defines tactical empathy as the deliberate influencing of your negotiating counterpart’s emotions for the ultimate purpose of building trust-based influence and securing deals. This ideal will help shape you into a passionate leader, making the distinction clear to all.

It’s a waste to have a team but rule with an iron first. Micromanaging and leaving your employees with unifiling tasks is futile. You know they are capable of great and ambitious work because you hired them after seeing everything they bring to the table. Help yourself and empower your staff, which will spread the workload and allow you comfort that tasks are being completed.

Transparency, trust, and honesty, need to be present in the office every day. Practicing tactical empathy may require a conscious effort, but it will improve interpersonal relationships within the workplace.

2. Inspire Your Team to get Things Going
A leadership nightmare is hiring talented people and then making them feel incapable of doing their job. The function of a leader is to bring in the best candidates into the organization, train them, and then let them prove themselves.

Be open to feedback from your team on a regular basis. While every suggestion or idea doesn’t need to be taken into action, getting your team’s input shows you value their opinion. It says that you want to know their take on projects and policies. Not involving your team alienates them; it says you don’t trust them, and this can be offensive. It is the easiest way to turn a good employee to an unmotivated one.

It is important to encourage your team to feel a part of decision making. No one wants to feel powerless at work. This is especially essential in a crisis situation. The team should be aware that there is a problem when in the midst of it, not after it is over. Someone on your team may have an idea which could positively influence the outcome. Giving them the opportunity to suggest this useful action avoids the stress of problem solving alone. Not engaging your team when during work difficulties could damage your relationship with them. It indicates a clear message of not trusting your team to help you through. They need to know they’re valued at your company, and these simple gestures will do exactly that.

3. Practice Self-Awareness
Avoidant behavior is not conducive to good leadership. Avoiding taking action or acting on a certain matter can cause great damage to the business. It puts a stop to the progress of the organization’s success.

Why do some leaders avoid taking action? Being a passionate leader requires taking action. There are no moments to hesitate when making decisions in critical situations. They don’t want to take the responsibility upon themselves.

The fear is a result of a lack of self-awareness and self-confidence. It stems from a lack of faith and belief that they are able to overcome the situation, but it takes some action on their part.

How does one deal with this problem? Honing the skills of self-awareness comes from a constant quest to be curious and learn. The ABCs of life abbreviate Always Be Curious. As a leader your actions and decisions are influencing those who work under you. Analyse each decision and its consequences before putting it to action. How do they handle conflict? It’s human nature to react, but leaders must respond diplomatically. Be aware of your involvement in any conflict and come to a resolve with your team efficiently. This will leave people comfortable reaching out during issues.

Leadership involves high-pressure moments. Don’t let intense moments affect you, but set the example for your team. It all begins with self-awareness.

4. Accepting Power and Authority
A leader is ambitious by nature but this doesn’t have to be bad. Every leader has their organization’s best interest at heart, as the success of the company is a reflection on their role as boss. Projecting others in a bad light to gain favour finds a way of coming out. It is best to avoid negative antics that only breed room for a hostile work environment.

Misusing your power will affect your judgement and hamper your ability to make sound decisions. A narcissistic leader cannot see past their own thoughts and ideas, typically working solo. This will cause them to lose their team’s support. Acknowledging your team and their participation is a better path to follow.

Triumphing with your team backing you is the best way to prove your power and authority as a leader. Every leader has power and authority, but flaunting it in a negative light is not going to help. Try and engage your team and listen to them. A humble standpoint will gain you more authority and put you in a position of power more than trying to assert yourself with an attitude of arrogance.

Your attitude towards your team can gain you tremendous dividends in the long run. So make your team a part of your success. Power and authority are earned and your direct reports are major contributors.

Future of Co-Working Spaces: The Next Big Thing

min read

5/18/20

The Future of Coworking Spaces

With an inrush of business setups during the decline of commercial spaces, companies are experiencing the paradigm shift in traditional business structure. 14% of corporate workers regularly use coworking spaces, proving that brands are shifting their business model and adjusting accordingly. The future of co-working space is brighter than ever before!

Coworking spaces benefit various business careers: startups, entrepreneurs, business travelers, digital nomads, freelancers, and more. They are all working remotely, in places outside of the typical corporate office. Another component of coworking space for rent are virtual spaces. Virtual office spaces are one of the latest innovations of coworking spaces. It is a professional method to connect with clients. Upsides to a virtual office space include less overhead, better access to candidates, and reliable Wi-Fi connections. These are the vitals for office infrastructure; now they can be achieved at any location. Yes, there is a new age of business and the future of co-working directly reflects this.

Surges in co-working spaces are reported globally. Nations like India have taken greatly to the co-working work model and more countries are following suit. 2022 is expected to be a milestone year for this trend, as the projected number of co-working spaces is estimated to cross 20,000 and reach around 25,968, which would be a jump of 42% when compared to 2019. With an average increase of 2595 new spaces every year, the future of co-working business models is undoubtedly the next big thing.

Since 2005, when the first co-working space opened, it has come a long way and is on an all-time high. Its collaborative work environment model with all modern day office space rental facilities is attracting young business minds and is most likely to be the new normal for the future workforce.

Coworking Spaces are the future of office spaces

In the wake of the recent COVID-19 pandemic, assumptions arose about the future of co-working spaces looking bleak. Much of this sentiment stems from our understanding of shared office spaces. With neighboring businesses only a seat away, adhering to social distancing would present a challenge. On the contrary, most co-working spaces are adapting their facilities to a sanitized and physically distant setting. When most employers are instructing employees to work from home, a co-working space serves as an instant go-to place that offers a convenient work environment and basic office facilities like access to a printer, Wi-Fi connectivity, and audio-visual conferencing. These spaces are equipped to handle a post-COVID-19 work environment.

How COVID-19 Makes Co-working Spaces Even More Important?

With a general slowdown in the economy coping with the pandemic hangover and a conservative approach towards business expansion, the future of co-working spaces post COVID-19 is set to mark an all assuming role and emerge as the new norm for the workforce. Growing beyond the domain of freelancers and startups it is likely to attract large corporate houses too. The ‘work from home’ culture cannot continue for infinity and soon companies will be on the lookout for a reasonably decent workplace that lowers their corporate density and at the same time pulls employees from the lackadaisical ‘work from home mode.

Moreover, small business setups are most likely to rely on the shared co-working resources and use them as their lifeline to sustain in the market and keep their boats afloat.

While millions are likely to lose jobs in the post-pandemic world, there is some good news that co-working spaces can offer. With increased professional networking, a rising membership, and more corporates working under one roof, co-working spaces are likely to emerge as the new job hub, churning out more opportunities.

5 Predictions For The Future of Co-working Spaces in the Next Ten Years

Growing with leaps and bounds, the future of co-working spaces has never been so promising as it looks in the next decade. Here are some predictions that take us into the future of these shared spaces.

The present 5% share of co-working spaces' office space market is likely to swell up to 30% by 2030.
Besides the stalwarts in the industry, there will be a rise in small co-working spaces in tier-II and tier III towns
Customized co-working spaces dedicated to specific industries can gain ground
Along with a user-friendly environment, co-working spaces are likely to adopt a more eco-friendly design promoting use of fresh air, natural sunlight, and open spaces reinforcing the idea of sustainability
Besides leasing office space, co-working spaces may offer shared talent, research, and technology promoting overall productivity

Turning ‘Work From Home’ to ‘Work Near Home’

The post-pandemic economy is likely to set new norms of business and propagate the future of co-working space across the world. COVID-19 has already set us on a ‘work from home’ mode and teaches us that work can be done beyond corporate offices and luxurious board rooms. As more businesses come to this realization, there will be an increase in consciousness to cut down on transportation between homes and offices and choose workplaces close to residential areas. “Walk to Work” will be the new trend amongst corporates and opting for co-working spaces that keep employees remotely connected to the workplace is perhaps the next big thing that professionals will be eyeing. “Work Near Home” is an opportunity that will be easily grabbed by co-working spaces that draw professionals away from the easily mundane work-from-home cycle. It will also keep employees safe from the risks of congested conventional corporate offices.

Indeed, the future of co-working spaces is brighter than ever before. Post-pandemic times will likely increase the trajectory of this trend because many companies will need alternatives to the regular work model. So, get ready to welcome this new normal and share a workspace that brings you closer to the world while keeping you socially distant.

If you have been considering a coworking space in the future, look no further. WorkSocial is revamped and invites you to join them for a new working experience that will benefit your business and wellness. By promoting good hygiene, creating sanitization measures, and removing the concerns of location, convenience, and costs, WorkSocial is prepared to welcome you aboard. In addition to desk and conference room space, they are well-equipped with virtual office services. WorkSocial will help companies and individuals to access their traditional range of services remotely and hassle-free from home. Move forward with your business’s best interest in hand, and find your workshare home today.