Over the past few years, shared office spaces, better known as coworking spaces, have become increasingly popular among startups, freelancers, and entrepreneurs. These spaces create an arrangement where employees from different companies can sit together to work, sharing common infrastructure such as utilities, equipment, reception services, etc. Drastically different from conventional offices, these spaces present an exciting opportunity for hybrid workers to interact with each other and build professional connections.

1. Flexibility
The main benefit of coworking spaces is the flexibility they provide to the company as well as to the team members. These spaces have many layout options—single desks and chairs, one-on-one meeting rooms, and larger conference rooms. Depending on one’s needs for the day, one can simply book the setup one needs.

Next, coworking spaces offer flexible lease terms, from single-day bookings to monthly rentals, so one need not worry about creating, maintaining, or updating their office space. Additionally, businesses can adjust their coworking plans daily to accommodate more or fewer members, depending on their needs. Most of these coworking spaces also have a large network of offices across the country (and even the world), offering workers tremendous geographical flexibility.

2. Cost-effectiveness
One of the major reasons for the rising popularity of coworking spaces is how economical they are. Not only does this setting do away with the need to pay rent and maintain a traditional office space, but it also provides teams with a way to share common business expenses. This includes the cost of furniture, interior design, reception services, printers, internet, desks, computers, break room space, bathrooms, and other amenities. The cost of these services is generally included in the rental cost per employee per day.

3. Networking opportunities
At coworking spaces, members are exposed to employees and teams from many different companies, offering a plethora of networking opportunities. This opens up space for interpersonal learning, growth, and exchange of ideas, which may eventually lead to the development of new professional partnerships, connections, and collaborations.

4. Professional environment
Working from home presented a unique challenge for workers — there was a lack of professionalism in their working environment, which impacted their productivity. Coworking spaces present an interesting solution to this issue, as one sits with and around like-minded individuals who are all immersed in their work. This can lead to the growth of new ideas, innovation, and growth for companies and individuals alike.

5. Access to amenities
Most coworking spaces today have developed a range of amenities that could be a major boon for upcoming companies. This includes conference and meeting rooms, break rooms, calling booths, recreational spaces, power/electricity backup, printers, cafeterias, internet, kitchen facilities, and more. The costs of these amenities are included in the daily booking price, so every member in the space can enjoy them. As shared resources, the price of building, maintenance, and upkeep of these facilities is divided among teams and businesses, making them more affordable for everyone.

6. Available events and resources
Most coworking spaces also host a variety of events, from training sessions and workshops to recreational activities and networking events, that help keep employees engaged and promote the development of interpersonal relationships across teams.

7. Employee well-being
The rise in popularity of coworking spaces has been a cause of great interest among researchers over the past couple of years. Some studies have found that coworking spaces have improved employee productivity and offered people a space to thrive socially. This has led to coworking space members feeling healthier, well-adjusted, and more motivated to deliver professionally. These spaces have also reduced the feelings of loneliness or isolation that came with working from home and offered a more fulfilling work environment (as compared to both the conventional office and home).

Coworking spaces have also presented a defined working environment for virtual workers, helping them structure their workday and allowing them to separate their work life from their personal life.

8. Sense of community
The virtual working environment proved to be rather challenging for many people. Coworking spaces have offered employees a way to step out of their comfort zones and interact with other like-minded individuals. Along with helping people learn new skills and perspectives, it has allowed them to experience a sense of community.

Coworking spaces have presented a distinctive solution to many problems employees face. Not only have they been instrumental in reducing feelings of loneliness and isolation among hybrid workers, but they have also provided a cost-effective way for growing businesses to conduct operations while offering flexibility and amenities to their employees.