The coworking space has revolutionised the way many businesses work in Asia, Singapore specifically. It is has provided professionals who are known to work long hours a place to work more efficiently, and some might say, more effectively. Furthermore, it has streamlined many of the tasks by creating communities where work can be completed effortlessly.
By tying a little of the old practices of building relationships before doing business with new technologies, Singapore’s business culture has really taken to the coworking concept that provides businesses and professionals with the platform for forming relationships in the workspace. Moreover, with the variations on the space, coworking is evolving to include industry-specific and mission-based coworking spaces that cater to businesses with specific needs. In essence, this idea began as a way for professionals to afford comfortable workspace and has evolved and evolved into newer incarnations of the coworking space concept.
Keep reading to learn how coworking is shaping the future for office space in the Singaporean business landscape.
Combining Workspace With Social Space
Singaporeans are recognising the need to work efficiently, but at the same time, the need to have a good work/life balance. Coworking spaces, by virtue of the fact that they are social spaces as well, have evolved to the point that many places focus on event planning to attract prospective tenants to the space. Outside of the traditional formal networking activities, many spaces focus on providing businesses with a more relaxed environment to meet and engage other professionals.
Then, there are the offshoots of the original model. Incubator and accelerator programs have long been a favourite of coworking models. These programs essentially nurture start-ups through the initial phases of establishing a business. However, even with this progress, the coworking model is still redefining itself.
Coliving – Combining Workspace With Life
Another offshoot of the coworking space is the coliving concept. The cost of renting an apartment or living in the downtown area is expensive, and while there are government-subsidised apartments available for professionals who work in the city, the concept of coliving is increasingly becoming popular. Coliving simply combines the basic necessities of the office with living space. The idea is quite ingenious because it provides all of the comforts of home within a short distance of your office. Young professionals who live in or near the CBD expensive might find this lifestyle beneficial.
Larger Outfits With More Add-Ons
International leasing companies also find the coworking concept very attractive. The corporate world has taken notice of coworking’s popularity as well, as Singapore is already seeing coworking giants spring up in response to demand. More significantly, these outfits will definitely be providing those who join the space add-ons like gyms, day care facilities, and places to change and shower. As these spaces vie for customers, the focus is on finding ways to make working in the space more convenient and comfortable.
A few places in Asia have taken the concept of coworking and made it very accessible to the digital nomad and other professionals who find temporary assignments in other locations. These hotels provide businesses with a place to stay while collaborating with coworking spaces who provide temporary office space for this group of professionals. While the idea has not taken route in Singapore as of yet, it is one of many possibilities in the making.
The Future Of Coworking Singapore
The future of this ingenious concept can lead anywhere. With new industries finding the concept adaptable to their own workspace format, the modern office is growing into a place where the work/life balance is of real import. One could argue that making work more comfortable might lead to people spending more time at work. Alternatively, this transformation in the office can lead to a more efficient office so Singaporeans have more time for life.