Traditional 9 to 5 is giving way to contemporary approaches to work, and that coworking is the way moving forward. With growing connectivity and the nature of work in the digital economy, the line between work and life delineates. This results in “work life integration” being a new norm that is widely accepted by most millennials.
Delving deeper into the motivations of the growing millennial workforce, the following statistics give us a better understanding of what makes millennials tick for work:
- 64% of them say it’s a priority for them to make the world a better place.
- 72% would like to be their own boss. But if they do have to work for a boss, 79% of them would want that boss to serve more as a coach or mentor.
- 88% prefer a collaborative work culture rather than a competitive one.
- 74% want flexible work schedules.
- And 88% want “work-life integration,” which isn’t the same as work-life balance since work and life now blend together inextricably.
Businesses have adopted different work models to get the best results from their team and to help retain the best talent, but do these approaches prove effective?
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Closed or opened? Competitive or collaborative? |
The open office concept has met with varying degrees of success, with layouts designed to push more employees in the space as opposed to the traditional office setup.
Rich Sheridan, the founder of Menlo Innovations in Ann Arbor, Michigan is a good case study of an open-office approach which works, further detailed in his book “Joy, Inc”. In some organizations, however, having an open office could end up being detrimental.
Certain businesses have opted for the remote working approach as their modus operandi. A projected 40% of the American workforce being freelancers by 2020, the transience of workplace mobility makes this shift an attractive option, and we have a checklist to see if it suits you.
The popularity of work flexibility is apparent in the case of Marissa Mayer, CEO of Internet giant Yahoo, who still deals with the backlash of her controversial ban on remote work in 2013. Citing her initial decision to do so as a solution to her team leaders complaints of “absenteeism among group members”. The concerns that Marisa have are not entirely unfounded. The drawbacks to remote working that have stumbled organizations seem to stem from an overreliance on technology while glossing over the process. The three factors being communication, coordination, and culture that require a great deal of legwork for remote working to be reliable.
| What the new generation of workforce looks for |
Coworking addresses the pitfalls that beset both the trappings of less privacy and more distractions that the open-office presents and the lack of face to face communication and need to instill organizational processes that remote working brings.
Striking a balance is key.
Coworking provides autonomy, and flexibility, and a strong community that the people can choose to engage at their own comfort level. The basic needs and strong community help the different companies within a coworking space to grow into their own, with most spaces open 24/7, occupants have the onus on decorating their environment and choosing how, and when they work.
The community allows companies to go beyond breaking silos beyond their business models and industries and welcomes greater collaboration with information being shared freely. With a compelling study of workspaces details the benefits of coworking, along with statistics, make a strong case that coworking is beyond a trend and is here to stay.
| Check up on our blog to learn about the other advantages and perks that coworking can do for you |
