Even though people can work from anywhere, they still have high demands on their workspaces. For example, 70% of millennials, say workplace is more important than their salary - and millennials will make up 75% of the workforce by the year 20251. In comparison to baby boomers, the younger generation is more willing to take a pay cut if it means working in a nicer office, or consider quitting if their workplace design is too outdated and inefficient. Generation Z demands a working environment that's flexible and designed to facilitate work-life integration.2
When starting a company and working by yourself or with a small team, all these expectations could be daunting – how to create an atmosphere that is empowering for working and helps you concentrate, while offering opportunities to integrate your life and work. Many companies, especially in tech, are taking this challenge very seriously and creating office spaces with quiet areas, ping-pong tables, meditation rooms etc.
A modern office in a coworking space
Modern benefits aren't only for large companies, as coworking spaces can offer the same creative and inspiring atmosphere for smaller teams. Coworking has been one of the major trends in the last couple of years. In 2012, the global market value of coworking was 1 billion, by 2016 it had soared to 8 billion and it is estimated to reach 30 billion by 2020! That's a 33% annual growth rate.3 In the Baltics as well, the number of coworking spaces is growing rapidly, with a new space opening its doors every few months. While the conventional wisdom is that coworking spaces are most popular among start-up community, more and more teams from other business areas are considering the benefits of shared offices.
As coworking areas are designed to support your team, they provide small businesses with the most suitable solution – it could be a hot desk or a private office for a few people. Another upside is that as a company just starting out, you don't have to buy desks and lamps and printers and a coffee machine. Most of the coworking spaces have it all set up already – you just have to set up your laptop and start!
There are also other benefits to consider
- Coworking spaces have scalable solutions -- you can upsize and downsize your team and desks/offices you rent based on your needs
- Setting up an office in a coworking area is quick. And you won't be tied down with long-term contracts
- Coworking areas have meeting rooms in different sizes – you can invite your most valuable clients or investors to a meeting
- Coworking spaces offer many options for networking – you never know who you might meet at the coffee machine.
Find your next workplace: www.wrkland.com
- Signal research 2017 - How can coworking concepts support the innovation of big companies?
- Get Smarter - How Gen Z is Changing Your Workspace
- Source: Emergent Research: The Small, Bisner, The Instant Group, Morrison &Macky (2017), Forbes, JLL, United States Office
