The Slingshot Effect of COVID on Coworking
by Barbara Sprenger, founder and CEO of Satellite Deskworks
We recently had Winter Solstice, and I was feeling it. Shortest, darkest day of the year.
But that means each day is now just a little bit brighter for longer.
On the whole, it’s not an unreasonable metaphor for right now in our workspace industry. As people hunker down and work from home, many of us are seeing 40% – 60% reductions in revenue.
Some of you may be seeing more.
And some may be packing it in.
But, at the same time, there are rumblings and right-out-loud statements that individuals, small companies and large corporations are seeing that their people don’t have to drive long commutes to great big buildings and work in large congregate settings in order to be productive.
Managers are seeing that their employees are successful working remotely, that it’s possible to manage by objectives rather than just butts in seats. They are seeing that their large expenses for corporate real estate — typically over $1,000/month per desk — maybe aren’t necessary.
Employees are finding that they can maybe slog through working from home temporarily during a pandemic, but it’s just not a good solution long term.
Enter the hybrid solution—and it’s coming faster than you think.
Our work lives are in our laptops and in the cloud. We can work from anywhere. But as human beings, we do better when we mix it up a bit.
We’re hearing from more companies who want to reduce their corporate footprint, expecting employees to come in 1 – 3 days per week. These companies can reduce space needs by 30 – 50% or more with a flexible workspace model. They are looking to make agreements with coworking spaces near their employees’ homes so their employees don’t go crazy dealing with the cat and the laundry.
Everything we’ve been talking about for years is just around the corner.
Look for the path of the slingshot over 2021. You will have more members. There will be more people looking for shared time/space plans. Are you ready for it? Can you manage this environment easily?
If not, you’ve got just a little time to get ready. Don’t give up now. The slingshot trajectory will be fast.
Let us know how we can help.
Deskworks can help you automate your space and help you prepare for the surge in members. Contact us to learn more and schedule a free demo.