The Rise of COWORKING and What it Means for Leaders
With the effects of the coronavirus continuing to evolve. we are seeing our everyday lives shift in unexpected ways. Some might think when the pandemic is “over'' we will return to normal (whatever that means), but we are seeing certain trends of employment that may stay for good.
This blog was sparked after a conversation with the founders of One Epic Place (OEP) in New Paltz, New York. Julie and Nicole are the owners of this dynamic, agile, and nurturing coworking business that stands proudly on Main Street of New Paltz, NY. Here’s a little bit about what we discussed regarding the rise of unemployment leading to people taking matters into their own hands, and how that is affecting the demand for spaces like OEP.
A study released in September 2020 by Upwork titled “Freelance Forward 2020” found that 59 million Americans freelanced in the past year. Upwork, along with many other freelancing websites, is seeing growth after millions of Americans lost their traditional employment. This insecurity is birthing a certain brand of bravery for people to begin working for themselves. The Upwork study revealed that 2 million Americans started freelancing in the past year, which means freelancing now takes up 36% of the total workforce.
Working from home may have come out of necessity because millions of Americans were laid-off due to COVID-19. This outcome has brought about uncertainties such as lack of benefits including health insurance, PTO (paid time off), retirement plans, of all sorts. Added to the stressors are out-of-pocket expenses, which vary but typically include equipment like a working computer, high-speed internet, and a space with no distraction.
“The [coworking] industry is definitely buzzing.”
So what is a working professional to do? Enter coworking. A rising trend across the country, that we’ve definitely seen here in our local Hudson Valley Community, is the increase in personality-filled co-working spaces. The purpose of these spaces is to create communities of workers that need safe, comfortable, and well-equipped places to (obviously) work with a fraction of the overhead that comes with a single office lease.
The positives to joining a coworking community are many. As mentioned in the Harvard Business Review, “Coworkers reported that having a community to work in helps them create structures and discipline that motivates them.'' Professionals can maintain that office sociability and sense of belonging in a setting that supports their creativity and their focus without the pressure of fending off at-home distractions.
Another component of this uptick could be the significant shift in temporary work. An article by NPR quotes Julia Pollack, a labor economist from Zip Recruiter (a job searching site), reveals that temporary job postings rose 10%. Certain job markets may never see full-time employment numbers like in pre-pandemic. The article states:
“The share of temporary job postings in communications, for example, was only 12% prior to COVID," Pollak says. By April, it was four times higher.” The share of temporary marketing jobs jumped to 28% from 8%.”
“People who cowork are happier,” said Nicole (left) and Julie, citing an American Psychological Association statistic.
For employers concerned with expenses as well as the well-being of all employees -- temp, contract, and permanent -- co-working spaces may provide a reasonable solution to the conundrum of providing workspace that supports collegiality and productivity in a time when more permanent commitments feel risky.
Julie and Nicole from OEP explained that, while historically coworking spaces were used by start-up small businesses, they are now seeing an increase in memberships and remote workers. They also mentioned that people who co-work are happier, citing an American Psychological Association statistic.
This fabulous duo of entrepreneurs has noted a rise of coworking demand, already seeing a spike in membership. “The industry is definitely buzzing,” they said, “and we are doing our best to be accommodating to current conditions and concerns as well as the changing and increasing needs of the community.”
What does this mean for leaders in the entrepreneur space? Essentially, it means flexibility. While we all continue to contend with the impact of the Pandemic on our professional and personal lives, as employers we need to keep the well-being of our people top of mind. What would it look like to partner with a coworking space so we can accommodate the needs of staff to have a quiet, safe place to work free from barking dogs and online school - even for just a few hours a week?
What’s more, Julie and Nicole reflect what others report: people who use coworking spaces see their work as meaningful, and coworking provides a practical and supportive bridge for those venturing out on their own. Whether coworkers are venturing out solo or they are already part of a flexible, evolving team, this is proving to be a viable option for those of us seeking community while cultivating our dream.
If your curiosity is piqued, reach out to Julie and Nicole to learn more about the One EPIC Model! OEP in particular caters to a lot of nontraditional businesses, offering rooms with massages tables, and music equipment, and there are other models that cater to all kinds of professionals in various fields.
Is this something you have tried? How has it worked out for you? I’d love to know!
Watch the full conversation with Nicole Langlois and Julie Robbins, Co-Founders of One Epic Place.
