4 Reasons Why Co-Working Spaces Are a Practical Choice for Companies in the ‘New Normal’

The COVID-19 pandemic has drastically changed the way businesses operate locally and globally. With various safety measures implemented to prevent the virus from infecting more people, businesses are forced to halt operations or adjust their workforce to follow community quarantine guidelines implemented by the government.

Businesses in the country are now trying to adapt and develop protocols to smoothly transition to the “new normal” with unpredictability and how fast things change will definitely pose a big challenge.

Most businesses now have placed great emphasis on operation and cost-efficiency, allocating resources to other key business priorities in anticipation of future needs.

Fixed costs arising from real estate leases and expenses, and businesses have moved away from fixed workspace commitments.

With available space-as-a-service providers like WeWork, co-working spaces will prove to be a smarter long-term strategy to keep business afloat in the new normal.

Here are four reasons why co-working spaces are a practical choice as companies recover and face the ‘new normal’:

1. Having a sense of community. Co-working spaces are built to cater to diverse communities. This makes it easy for a business to retain its company culture, employee integration and experience to drive productivity, motivation, and connection. A co-working space also provides a diverse ecosystem of businesses that promotes collaboration and improves connections among different fields of business.
2. Empowering sustainable work arrangements. Businesses have turned to work-from-home working schemes to adapt to the new normal during this pandemic. While this shift proved to be the safest way in maintaining operations this brings the questions of sustainability in the long run. Employers need to take into consideration employees’ work resources, productivity, and mental well-being. On the contrary, many leaders have addressed the importance of physical workspaces: how in-person interaction matters for innovation, relationships, culture, and more. Signing up for a co-working space or office can help address these concerns for your employees. Along with the new demands of the workforce today, co-working spaces provide your team with the needed essentials to increase efficiency and productivity.
3. Adding flexibility to businesses. The unpredictability caused by the pandemic companies has to make quick operational decisions. In this new normal, businesses also have to take a conservative approach when it comes to operational needs such as leasing flexibility.WeWork enables companies to scale 3x faster than traditional methods by giving them the agility to their portfolio with flexible terms and innovative deal structures, businesses have also saved up to 50% of committed costs.
4. Supporting business continuity efforts. The continuity of business operations is critical for riding out a crisis and having the confidence to continue to open the business is key to its survival. Beyond nurturing collaboration and productivity, a co-working space role is also to provide its members with flexible services, tools, and strategies to enable businesses to continue to operate with efficiency.

The new work order is indeed upon us and there is no going back to the way it was. The task for businesses is to adapt both efficiently and effectively as industries move towards recovery.

Illustrating how WeWork’s core product and value proposition continue to be in demand, enterprise accounted for more than 50% of WeWork’s core revenue for the first time in Q2 2020.

WeWork continues to redefine the future of work for more productive office environments reflective of the new normal. This is done by revamping its products, design, and services to meet members’ new expectations from professional distancing to cleanliness standards.

By implementing a renewed workplace standard across its locations, members are ensured of a smooth transition back to the workplace. All these were done while maintaining its strengths as a partner of choice for turnkey, thoughtful, and diverse space solutions. With a decade of expertise, WeWork will be able to pivot to what their partners’ need to face the new normal head-on.