The impact from the pandemic has created a huge shift in the business industry that is here to stay. Those that commuted to work daily have finally grown accustomed to working remotely, and even companies have found that it may be more cost effective to adapt to a hybrid work model.

That hybrid model of course, includes working remotely, and the utilization of coworking spaces on a corporate level. Being able to change locations as needed can prove to be helpful in staying under budget.

How New York City Has Adapted

Here in New York City the coworking industry has already taken a strong foothold. Coworking companies that opened before COVID have continued to grow despite the pandemic. One company in particular, Serendipity, is based in New York City and now has over 35 coworking locations.

These companies offer coworking space memberships to individuals and companies with employees who work remotely, some of which even include gym memberships and online counseling. Statistics and industry analyses are showing that these membership packages are more than a trend, and people won’t stop buying them anytime soon.

Corporate Adaptation of The Hybrid Workspace Model

The entire hybrid work model is already being considered on a corporate level, with many companies planning to adapt to the model within the next few years. This allows companies to rent out flexible office space for temporary measures whenever it is required.  Companies utilizing coworking spaces tend to save money on costly ‘permanent’ offices. This is now especially true due to the pandemic, as many employees are now working remotely. Permanent office space has become almost an unnecessary expense.  

Statistics show that 68% of Americans post-covid now prefer working remotely, as evidenced by commuting where workers now consider it a deterrent for new employment opportunities. A separate survey conducted said that 1 in 3 workers would not want to work for a company that required them to come into the office full time.

It is predicted that within the next few years, corporations may even begin to offer coworking space membership benefits to potential new employees as an incentive to work for them.

The Coworking Space Race Projections in 2021

By 2024, the entire coworking industry is expected to double in size. As more office buildings become available, many are renovating the space into flexible office spacing. Growth in the coworking industry will accelerate in 2022 as corporate business models adjust, and new worker benefit packages to adapt to changing trends.

As business trends rapidly change, and businesses are racing to keep up, New York City continues to be a top city where coworking spaces are seeing growth. As the city that never sleeps, NYC will always be the hub of business innovation and growth.

If you are looking to renovate your empty permanent office space into a recurring revenue maker, Get In-touch with us here at Talisen. We can help renovate your space into an adaptable coworking space and take advantage of a growing industry.