I’ll say it again…Shared Workspaces (formerly known as co-working spaces) are going to have to morph to turning their open spaces into private business suites. Why? Here is Why!
The extremely slow process of adapting business operations, consumer buying patterns & employee work preferences to the readily changing marketplace are now having to be radically sped up by the shutdown the COVID-19 pandemic caused.
Now the issue every business has to deal with each day is how to find ways to stay in business while keeping their staff safe, healthy, and in the office.
Being forced to work from home definitely has worked to stem the spread of COVID-19. However, very few businesses can actually continue very long to do business when 100% of their staff are not readily accessible to dealing with issues their consumers create.
For the businesses that jumped on the shared workspace bandwagon before the shutdown, they are now having to rethink if it is wise placing their number one asset at risk by bringing them back to work from an open environment.
Survey Says!
In a quick survey made of 25 of our clients who employ over 50 people or more, they all have confirmed the studies made between 2004 thru 2017 that showed when a company’s staff works from home there is a significant drop in productivity office.
This means the vast majority of businesses…even if they are currently promoting the endorsement of their workforce working from home…need their workforce in their office in order to perform their jobs efficiently.
Pandemic Caused
The mobile workforce predicted to be here by 2030 is already here as the result of COVID-19.
Is the economy ready for more people working remotely from their homes? No!
As a result of the shelter-in-place order the majority of the USA was put under in March 2020, the office-using business ecosystem instantly became dependent on home offices, mobile devices, video conferencing, messaging apps and the internet. They had to do this in order to remain solvent.
In some circles that could be considered a success, But along with every success comes to a very real challenge brought on by the collision of personal and professional life taking place under one roof.
In the short-term, employees may feel tethered to the physical office, but it in the long run there will be a significant role each business owner will have to make in maintaining a culture of belonging, collaboration and innovation. This will be impossible to do for more than a few weeks before there will be a need to bring the team back together in one space.
The Transition to Private Office Space
There are a few ways the intersection of the physical and digital world is likely to impact the physical workplace.
Pre-COVID, the rise of flexible office spaces and modern, experience-driven workplace environments was a huge shift from the traditional real estate model. This transformation was adopted by only the most progressive developers, landlords and companies as the way of the future.
As businesses emerge from COVID lockdown, workers likely choose to work only where private office spaces are offered. Choosing to do so will cultivate their creativity, increase their productivity and most importantly improve their health and wellness.
This transformation will become more critical than ever for companies to remain competitive by harnessing the power of the physical workplaces that mesh seamlessly with the digital world.
Some ways in which the intersection of the physical and digital worlds likely will impact the shared workspace workplace include:
- The small business headquarters location will obviously have to be less dense. A greater emphasis will be put on shared collaboration inside private office space rather than in dedicated space that is open-to-the-public. Activities and events being held in private workplaces will become even more in vogue. Facilities offering higher-quality build-outs with the finishes, furnishings, technology and amenities that improve a business’ brand image will be more commonplace. Desk sharing in an open-to-the-public environment will immediately have to go away.
- Conference rooms will be inside private office suites so the small business leader can control the in-person meetings that are so necessary to building trustworthy business relationships. Tech-enabled rooms of all sizes with intuitive tools will be needed to allow participants to seamlessly connect and collaborate virtually and effectively. Telephone-only conferencing will no longer suffice. Providing meeting participants with the virtual technology to both see and hear each other whether in or out of the office is the way forward.
- Shared Workspace Portfolio strategies will have to become less centralized. Creating a network of locations that are easy to access and evoke a feeling of belonging and familiarity for transient guests will be integral to future portfolio strategy. A premium value likely will be placed on flexible private office space options as a portion of this strategy. Pay-as-you-go “desk pass” systems will go away in the future to make way for more private office space.
Shared Workspace facilities like WeWorks, Common Desk and Venture X are sitting squarely at the increasingly important intersection of the physical and digital worlds. Shared Workspace facilities must develop strategies that effectively predict the needs business leaders now have to keep their staff safe and healthy behind the closed doors of a private office suite.
If these leaders in shared workspace do not move this direction I am concerned they will be sitting in a very expensive empty piece of commercial real estate.
The shared workspaces that move towards adapting to small business leaders’ needs will be the shared workspaces that survive.
Let me know how I can help.
