Productivity and Hybrid Work: The Role of Coworking Spaces

The world of work has evolved, with hybrid work models and the role coworking spaces play in boosting productivity. Driven by compelling data and the changing needs of employees, hybrid work models when embraced by employers can be very successful for the business.

Hybrid work, which combines in-office and remote work, has gained traction, particularly due to recent global events. Surveys show that most workers prefer a hybrid work model, underlining the demand for flexible work arrangements.  

Coworking spaces are ideally suited to meet this demand, providing the infrastructure and adaptability required for effective hybrid work. They cater to a diverse range of businesses, including large corporations, indicating a substantial shift in workplace norms. Predictions suggest that the number of coworking spaces worldwide will exceed 40,000 by 2024, attesting to their growing popularity. 

A report by Accenture found that 83% of workers prefer a hybrid work model, highlighting the demand for flexible working environments (Accenture’s “Future of Work” Study, 2021). Coworking spaces are uniquely positioned to accommodate this shift, offering the infrastructure and flexibility required for effective hybrid work. Read more 

Coworking spaces like Cape Town Office offer businesses an excellent opportunity to reduce infrastructure and operational costs. With changes in the workplace landscape, coworking spaces can offer financial benefits to companies, even with the increasing trend of working from home. 

Moreover, coworking spaces offer a sense of community that is often missing in remote work. Surveys have shown that coworkers report increased productivity, expanded business and social networks since joining a coworking space. 

The rise of Coworking (in numbers)

It’s clear that hybrid work and coworking spaces signifies a fundamental shift in our approach to the workplace. Backed by compelling statistics, the growth of coworking spaces reflects a deeper change in societal and professional values, emphasizing flexibility, community, and innovation. As we look to the future, coworking spaces and hybrid work models will continue to play a significant role in the way we work. 

Just look at the rise of coworking spaces globally.

Hybrid work and coworking spaces growth
Credit: Zippia.com

Let’s talk about productivity

The GITNUX MARKETDATA REPORT 2024 found that. “Employees who work remotely at least once per month are 24% more likely to feel happy and productive in their roles than those who don’t.” 

When the pandemic took hold of our work models in 2020 and you could argue changed it forever, one of the biggest concerns raised by employers was how to ensure their employees remain productive. We now have the benefit of data and research, and it turns out staff who are trusted to work remotely do very well indeed.  

Bhushan Sethi, Joint Global People and Organisation Leader, PwC US, said: “As businesses accelerate digital transformation, our findings highlight leadership and culture as crucial areas of execution risk.  The confluence of factors such as the potential for worker distrust, competitive talent markets and changing workforce expectations puts a greater emphasis on the role of leaders today – especially the need for inclusive leadership in a hybrid work environment.” 

However, it’s important to note that the success of these models can depend on various factors, including the nature of the work, the tools and technologies available, and the individual preferences and circumstances of the employees. 

In the next piece we’ll touch on tangible practices employers can implement to increase productivity in the workplace, applicable to remote and office workers. Strategies that will help businesses can ensure that their employees remain engaged, productive, and satisfied in a hybrid work environment.