Recent statistics suggest that traditional permanent employment is dissolving globally and instead, alternative work arrangements such as employment by contract, freelancing and self-employment are on the rise in Europe and Asia. The 2017 Flexjobs Annual Survey found that 81 percent of respondents wanted to telecommute all of the time, 70 percent wanted a flexible schedule, 46 percent wanted to telecommute some of the time and 46 percent wanted a part-time schedule. Work preferences are in an evident shift in favour of flexible work arrangements due to the emergence of digital platforms, making it possible and convenient for individuals to work more independently.
In line with this move to more flexible working lives, we have also seen a significant rise in popularity in serviced office and co-working spaces across the globe in the last five years. For freelancers, small businesses or start-ups, co-working spaces can provide freedom as to where and when they work with all the benefits of a productive office environment and the added advantage of being part of a community of likeminded people.
Technological improvements and evolving social trends are significantly revamping the nature of work. Digital platforms have allowed work processes and their coordination to become seamless and more convenient. With the increased trend of digitalisation, freelancers in Singapore today have become a strong pool of skilled professionals who make up a critical mass of the workforce, particularly in the creative and media industries.
Based on Ministry Of Manpower (MOM)’s report in 2017, the number of residents self-employed for at least six months in 2017 rose to 223,500, about 10 per cent higher than the year before. Primary freelancers, who depend on self-employment as their livelihood, currently make up 8.4 per cent of Singapore’s resident workforce.
Co-working is not a new trend, but its recent renaissance underlines its strength as a trend that will continue to increase by even greater margins especially in Singapore and Asian cities. With new workspaces opening up expediently and about 73 per cent of established spaces planning to expand, the impact of this revolution is highly visible.
Co-working spaces have succeeded in adorning a culture that brings together all types of nomadic entrepreneurs and independent work professionals regardless of their work preferences, to flourish in entrepreneurship through a well-curated work environment.
Offering more flexibility, co-working spaces also provide the structure for great work habits which in combination, are key to career success. Independent work professionals can break free from the isolation, boredom and distractions of working from home while being offered the combination of open space mixed with quiet areas and booths that allow for both interaction and autonomy whenever needed.
Although the co-working industry is rapidly growing in Singapore, there is still a lot of misunderstanding of what it is. As freelancing work continues to change, so does the misinformation around it, hindering the increasing freelance work sector from making the most suited workspace choices.
With the lively and collaborative atmosphere of co-working, it is easy to misinterpret that co-working is all activities and interaction with no room for privacy. In reality, the configuration of many co-working and serviced office spaces is such that it can cater for the different needs of its members. To ensure privacy and security there are designated quiet areas, privacy booths or even the more traditional cubicle that help maintain privacy when and where it’s needed.
Co-working spaces vary widely and uniquely in amenities, atmosphere and location and it is therefore highly essential to do proper research before committing to a workspace. Every individual will be able to find a space that best accommodates them. The variety of workspace options has vastly matured and increased and so has the flexibility of choice.
Co-working spaces might have been popularised by tech professionals or niche industries but have since evolved. Workspaces now welcome entrepreneurs across different industries and have the amenities and functionalities to sufficiently support them. Today, the global co-working industry is diverse with a variety of spaces and vibrant communities. Many modern co-working spaces of today hold seminars and numerous off-site activities to help bolster the learning environment in each community of related industries.
The importance of workspace to employees has been gaining significant momentum in recent years, partly due to numerous studies showing the impact space has on one’s overall business. Entrepreneurs build a business according to their vision and while not many might be immediately aware of it, finding the right office space can be a game-changing decision.
What factors are important to consider when deciding on your first serviced office or co-working space?
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