Covid-19 pandemic has brought a complete change in the way people live and work across the world. Since the gathering of people in one place is not allowed, it has led to the shutting of coworking spaces. People are working from home and the coworking spaces are left empty due to no incoming of people at these places.
Until now, the spread of coronavirus has not been in control and it is spreading across the world like a fire. Although lockdown has been imposed in different countries, the number of deaths and infected persons is increasing continuously. Over 4 million cases have been reported until now and a total of 2.8 lakh people have died of this contagious disease.
Rethinking About Business Strategies
Since the outbreak of the coronavirus pandemic, the demand of coworking spaces has declined a lot and there is a big drop in attendance of people. Now, various companies offering coworking facilities are pondering over ways to reform their business strategies in order to boost their business after the pandemic. In order to do so, there will be an alteration in member fees and compensation of staff in these coworking spaces.
More Focus on Providing Hygienic Environment
Due to coronavirus pandemic, people have become more aware of maintaining their personal hygiene, and hence they also pay attention to social distancing. After the relaxation in the lockdown restrictions, people will choose the coworking spaces where there is a clean environment. Even small businesses will look for coworking spaces with proper maintenance of hygiene to take better care of their employees. Hence, coworking spaces are expected to focus on maintaining a hygienic working environment.
Lucrative Offers for People
Coworking companies need to offer lucrative bonuses to their clients in order to attract them. In order to survive in the market, coworking space companies are likely to focus on improving their facilities and increase their price accordingly. In addition to this, they are likely to include the rent relaxation clause in their agreement to build strong relations with their clients. The popularity of co-working space Chicago is very high as people prefer to working in co-working spaces in Chicago.
Not the Complete End of Demand
Looking at the impact of COVID-19 on the co-working spaces, one may say that this industry will see a big downturn. However, it is not exactly the case as co-working spaces serve the need for remote workers who have not got a perfect place to work. Moreover, coworking spaces are also important for ensuring resource co-coordination for small businesses.
Small businesses make use of coworking spaces in order to satisfy their needs for resource coordination. Since it is not easy for small businesses to pay a huge rent, they make use of co-working space to meet their needs. Although the teleworking environment will get a boost, it is not possible for companies to ask their employees to work from home completely.
Conclusion
Hence, it is not that simple to predict the impact of COVID-19 on coworking spaces. By making changes in their business models, different office sharing companies can establish themselves in the market even after the COVID-19. Co-working spaces enjoy huge importance and it is not possible to ignore them even after the prevalence of work from home after COVID-19.
