The rise of co-working: A growing workplace movement

Abstract

Expanding from its beginnings as an experimental office concept for entrepreneurs and technologists, co-working has quickly emerged as an effective workplace strategy for a growing number of corporate organisations. A range of off-site and on-site co-working environments are being explored by businesses to support their ongoing expansion and organisational requirements while accommodating the shifting work preferences and values of an increasingly diverse workforce. Because these shared workspaces can often provide businesses with greater flexibility and efficiency than traditional office leases, the global co-working trend is expected to continue indefinitely. This paper explores the growth and evolution of co-working, including factors contributing to the global movement and specific examples of businesses that are benefiting from co-working strategies within their own organisations. The goal is to equip corporate real estate (CRE) executives with insights and resources to explore co-working as a practical real estate strategy that can contribute to improving an organisation's overall performance by providing flexible, productive work environments that foster collaboration, innovation, extended networking and passive recruiting. By embracing these progressive ideals, businesses will be well equipped to meet the needs and expectations of their future workforce.