Table of Contents
The coworking industry is experiencing a meteoric rise and attracting the attention of larger companies. In this interview recorded during Hack Coworking 2020, Nellie Hayat delves into the significance of coworking in shaping the future of work and establishing a new normal.
The role of the coworking industry before the pandemic
00:00:00 In this section of the video, Nellie discusses how the coworking industry was seen as a major disruptor and has helped to improve the value of work and the care given to different professionals, from freelancers to smaller teams.
“What used to be only accessible to employees of large companies where people were used to having spaces created just for them, where employers were doing everything they could to build a space where people would be very productive, the coworking industry built it for everyone.”
She also talked about how coworking spaces became reference points and inspiration for architects and workspace strategists, who work on large company offices.
“Architects would go to WeWork, or IWG or even contact their architects to understand how they should design the office for their people. As coworking spaces were listening to their members, they got a very strong knowledge of millennials or remote workers on how to create a community of people who don’t have to come to this space every day, which is the opposite to companies who have more of a retention on this.”
Is it the end of coworking as we know it?
00:05:00 Nellie delves into the transformative role of the coworking industry in shaping the future of work. She highlights how companies are embracing this innovative concept, which prioritizes employee satisfaction and a collaborative work environment, over traditional office designs, in order to establish the “new normal.”
“Here in California, the coworking industry was the first to act when the pandemic hit. They started showing their floor plans, including social distancing, and increasing the cleaning schedules around their spaces. Coworking showed other companies what we can do with the new restriction that we have.”
She continues by highlighting the resilience of the coworking industry, which is gradually recovering from the effects of the recession and embracing new opportunities presented by the rise of remote work. She predicts that an increasing number of employees from larger companies will seek out coworking spaces, further fueling the growth of this dynamic industry.
Finally, Nellie reflects on the bright future of the coworking industry, driven by its proactive response to the changing landscape of work and the continued rise of remote work. Her optimism highlights the significant impact and potential of the coworking industry in shaping the future of work
What makes coworking attractive to larger companies?
00:10:00 In this segment of our discussion, we shed light on the remarkable growth of the coworking industry and the transition from brothers/enemies to partners. Companies are increasingly recognizing the benefits of coworking spaces, such as shorter lease terms, greater flexibility, and access to a diverse community of like-minded individuals who bring unique skills and perspectives. These spaces foster a dynamic work environment, enabling companies to stay ahead of the curve and adapt to the evolving needs of the modern workforce.
“Until a few months ago, prior to COVID-19, there was this relationship of brothers/enemies because we were competing for the same talent. We were offering the same spaces, the same amenities somehow. We were still feeling that coworking was a threat to companies because, as I said, they had a stronger knowledge of their people. Because they needed to be profitable, they would implement technology to measure the utilization of their space and make it more successful.”
Ways coworking operators can move forward with larger companies.
00:15:00 The coworking industry is undergoing a rapid transformation and taking center stage in the post-covid world. Strategic partnerships between companies and coworking spaces are crucial for driving its continued growth. Reflecting the changing demands of the modern workforce, individuals are seeking shorter commitments and a greater understanding of the benefits of coworking spaces. Technology plays a key role in facilitating these connections and bridging the gap between companies and coworking spaces.
Coworking as a part of larger companies’ workplace strategies.
00:20:00 In this part of the interview, Nellie offered her insightful perspective on the integration of coworking spaces into the overall workplace strategies of companies. She posits that coworking spaces will become a highly sought-after perk, particularly for companies looking to attract and retain the younger generations of workers, who value the dynamic, collaborative environment these spaces offer
How to integrate employees from larger companies into coworking communities?
00:25:00 Here, Nellie sheds light on the expanding landscape of the coworking industry, emphasizing the need for these spaces to continuously demonstrate their value. She foresees a shift in the market, where technology drives the growth of smaller, more localized coworking spaces that adopt a “hub and spoke” model, complementing the existing large, centralized spaces.
00:30:00 Finally, Nellie touches upon the pivotal role of the coworking industry in shaping the future of work and creating a ”new normal“. She highlights the industry’s remarkable adaptability and its ability to grow and evolve in response to the changing needs of the communities it serves.