Why Companies Should Provide Coworking Spaces to Remote and Hybrid Employees

The Covid-19 pandemic spurred dramatic changes across industries that radically shifted how businesses operate in order to stay profitable. As a result of mandatory quarantines, companies learned that most work, which had traditionally occurred in person, could now just as easily be accomplished remotely. As businesses continue to return to the office, many employees are resisting the traditional corporate office setting, leading many companies to experience issues related to attracting and retaining talent, as well as maintaining efficient operations. According to a 2022 study from Deloitte, 46% of Gen Z and 45% of Millennials report feeling burnt out from the intensity and demands created by their work environments. Additionally, 44% of Gen Zs and 43% of Millennials stated that many people within their organizations had recently left as a result of the high workload pressure. Employers must make a concerted effort to address these challenges, as those who don’t may see it negatively impact their bottom lines. The traditional office environment and its respective 9-to-5 schedule is rapidly evolving. Job candidates are seeking employers that offer maximum flexibility, great benefits, and access to lifestyle-enhancing amenities. There are many ways that companies can promote employee happiness and productivity without jeopardizing their balance sheets. This includes offering flexible work schedules that enable employees to work both in the office and from home. Promoting employee health and well-being has also become increasingly important, with many companies implementing new PTO and sick leave policies that are more flexible and supportive than in the past. While most people appreciate the flexibility that hybrid work provides, some fully remote employees may experience feelings of isolation when not interacting with their teammates in person on a regular basis. In order to encourage socialization and bolster feelings of connectivity, employers should seek out co-working solutions for their remote and hybrid employees. Research shows that a dedicated off-site workspace can boost productivity levels, as it provides an alternative to working from the kitchen table that is free of noise and other distractions. Giving employees a high-performance co-working environment to do their best work will help them to feel more connected with their organization, as well as more likely to bring a high energy to their work each day. Offering access to coworking spaces can also help mitigate commute times and cost of living concerns, as employees who would typically commute to the city — or be forced to live within the city limits — can now stay closer to home and save on expenses. The most sought-after coworking spaces will include amenities that help encourage work/life balance among employees. Amenities such as gyms, access to nutritionists, quality food and health care — including mental health resources — are critical in this regard. The benefits of promoting health and wellness in the workplace cannot be overstated. According to the U.S. Department of Health and Human Services, nearly 60% of employees do not get adequate exercise. Higher fitness levels will ultimately lower healthcare costs and lead to a decrease in absenteeism — i.e. less sick leave used — as well as a reduction in stress levels, which can lead to better work performance. Participation in fitness activities can also help employees to get to know each other on a more personal level, creating enhanced relationships and a greater sense of community. Additionally, coworking facilities and their respective amenities provide plentiful opportunities for networking and collaboration, as these spaces are shared by professionals across a variety of companies and industries. By spending time in a communal space, co-working members can develop relationships, as well as choose how and when these interactions occur, which helps stave off the feelings of isolation and loneliness that remote work sometimes creates. Common areas such as cafe spaces, kitchenettes and regularly scheduled social events enable employees to network outside of their company and the boundaries of their profession. This could lead to fruitful business opportunities, helping employees to succeed professionally as well as personally. The pandemic impacted the corporate world on many levels, which means employers who wish to stay ahead of the curve must factor in the increasing number of remote and hybrid employees who make up a rapidly growing segment of today’s workforce. Companies that invest in their employees’ well-being through access to inviting work environments that offer amenities and resources will be the most successful when it comes to attracting and retaining their industry’s best talent.