Lawyers and others will continue to opt for shared workspaces

While working from home has a strong appeal and some perks, remote workers won’t remain in their home offices indefinitely. For many, shared workspaces offer the best of both worlds: professional space in which to focus combined with the flexibility they need.

The appeal of shared office settings

A recent report from Coworking Insights, published in May 2020, shows that most remote workers will return to coworking:

71.5% of remote workers plan to return to coworking
Though spaces have faced many challenges from COVID-19, the flexible office industry will gradually recover as more people (54.9%) claim they will consider joining a coworking space as a remote work solution in the future.

That 55 percent group represents would-be coworking first-timers. That cohort either currently works from home or in a more traditional office setting.

Why do shared workspaces have such a draw for professionals, including lawyers? People who work from home reported the following challenges with that set-up:

  • More distractions and less accountability (55 percent)
  • Working too much (47 percent)
  • Isolation and loneliness (47 percent)
  • Lack of collaboration (39 percent)
  • Difficulty with motivation (35 percent)
  • Challenges with equipment or logistics, such as wi-fi (27 percent), printing and deliveries (31 percent)

While some professionals can maintain focus and productivity at home, the option of using a coworking space at least part time allows them to balance work and home life better. In addition, access to a network of peers and other professionals offers additional opportunities to share ideas and to collaborate on work.

Shared workspaces also benefit larger firms

No longer the sole domain of start-ups and entrepreneurs, coworking options give larger businesses some much-needed flexibility as well. As reported by CI, flexible office options allow larger organizations to manage their workforce:

“…as more companies consider shifting to a permanently remote workforce or an alternative ‘de-densified’ office setup.”

Alternatively, these large firms might end up with too much space of their own as workers take on remote-work schedules. In that case, opening their doors to subleased tenants could help them fill space, offset costs and meet the growing demand for shared space among independent professionals.

In the case of law firms, for example, a large firm could potentially share space with one or more independent lawyers in a non-competing or complementary practice area. That environment could lead to more referral and collaboration opportunities for all parties, if managed correctly.

The bottom line? Connection

If we have learned nothing else during lockdown and working from home, we now know the limitations of “always on” technology. Video conferences serve a wonderful purpose, but they can’t replace the human-to-human dynamic in a workplace. In order to thrive professionally, people need to work alongside others.

As this writer notes, coworking spaces:

“…are also a great place to stay connected, something we appreciate now more than ever. According to Dan Schawbel, author of Back to Human: How Great Leaders Create Connection in the Age of Isolation, remote work may offer flexibility and eliminate commuting costs, but it has also made employees more isolated, lonely and less committed to their teams and organizations.

Coworking spaces successfully address these issues, a study by Inc. finding that 83% of coworkers felt they were less lonely, and 78% that coworking helps keep them sane.”

Author Dan Schawbel, mentioned above, conducted research that shows technology’s sometimes detrimental impact on workers’ moods and interpersonal skills. Working in isolation and connecting only by computer doesn’t allow for the same depth of meaningful exchange between people. A coworking space, in contrast, fosters a sense of community, belonging and inspiration as people pursue their career goals.

To learn more about real estate’s role in the success of your law firm, contact us. We offer shared workspace options for lawyers at three locations in Denver, and we also connect large law firms with vetted sublease tenants.