Entrepreneurs usually need more funds to get their own working space when starting a new business. Due to this, many opt to work from home initially to save expenses while the company gets off the ground.
Work from home (WFH) was the exception, not the norm before 2020. Not surprisingly, according to a 2020 Labour Market Survey (LMS), 57.2% of people living in London did some work at home as a result of the COVID-19 pandemic. Today, as lockdowns ease and people gingerly return to pre-pandemic ways of living, work-life doesn’t look ready to revert to the pre-2020 state. Indeed, COVID-19 and the ensuing restrictions reshaped work life and workplaces, effecting irrevocable changes that are here to stay. But while the future of permanently working from home in the U.K. in 2022 appears slightly unclear, the relatively new trend of “hybrid working” appears to have caught on.
According to a 2021 Vox survey, more than 70% of UK employees would prefer a hybrid model of work that allows them the flexibility of working at the office on certain days of the week and working from home on others. Given the burgeoning popularity of this new work culture, employers are increasingly veering towards co-working spaces.
Meanwhile, others choose co-working spaces that are comparatively more affordable than dedicated offices. So, what are co-working spaces, and why are they best suited to meet the requirements of a hybrid working force?
What is working from home?
Work from home (WFH) is a flexible working arrangement where employees perform their job duties from their residence instead of commuting to a traditional office. This setup allows individuals to use digital tools and communication technologies to stay connected with their team and manage tasks remotely. WFH offers benefits such as reduced commuting time, increased work-life balance, and the ability to create a personalized and comfortable work environment. It has become increasingly popular, especially in response to the COVID-19 pandemic, as companies adapt to new ways of operating.
Benefits and Limitations of Working from Home
Post-COVID-19, working from home is a popular choice among businesses and freelancers. Despite the availability of premium coworking spaces, working remotely comes with its own bag of advantages and disadvantages.
Advantages of Working from Home
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- Increased flexibility: Working from home allows for a more flexible schedule. Employees can work when they are most productive, whether early in the morning or late at night. This flexibility can help employees balance work with personal responsibilities and improve their work-life balance.
- Saves time and money: There is no daily commute to the office, which saves time and money. Ultimately, “not going to the office” reduces stress from dealing with everyday traffic or public transportation.
- Improved productivity: There are no distractions and interruptions from co-workers or office noise in the work-from-home format. So, employees can create a comfortable and personalized work environment that can improve their productivity.
- Access to a broader pool of talent: Employers can expand their talent pool beyond their local area by allowing remote work. This can lead to a more diverse and skilled workforce.
- Environmental benefits: Fewer people go out on the street to reach the office, reducing the carbon footprint. Moreover, it reduces the energy usage and waste generated by an office building.
Disadvantages of Working from Home
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- Lack of Social Interaction: Remote workers may feel isolated and lonely due to the lack of face-to-face interaction with colleagues. It can lead to a decreased sense of belonging and team spirit because virtual communication can sometimes lack clarity and lead to misunderstandings.
- Family distraction: Family can be a distraction during working hours as they might require attention or contribute to household noise, making work challenging.
- Mental and Physical Health Challenges: Working from home can lead to a sedentary lifestyle and a lack of physical activity, impacting overall health. The lack of routine and structure can negatively impact mental health, leading to feelings of isolation, anxiety, and depression.
- Blurred line between personal and professional spheres: When working remotely, it can get tricky for employees to separate their work from their personal lives. Employees may feel overwhelmed by the amalgamation of work in their personal spaces and lives.
- Technology and Equipment Issues: Technical difficulties, such as internet connectivity issues or malfunctioning equipment, can occur when working from home. Remote workers may have access to different technology and resources than they would in the office, impacting their ability to complete tasks efficiently.
What is co-working?
Working in a coworking space involves sharing an office environment with other professionals from various companies and industries. These spaces provide a collaborative and flexible setting, often featuring open desks, private offices, meeting rooms, and communal areas. Coworking spaces are designed to foster networking, creativity, and productivity by bringing together individuals with diverse skills and backgrounds. They typically offer amenities such as high-speed internet, printing services, and kitchen facilities, making them ideal for freelancers, startups, and small businesses seeking a cost-effective and inspiring work environment.
Advantages of Working in a Co-Working Space
A co-working space comes with a few distinct advantages. These are as follows:
- Connect and Collaborate: It is great for connecting, communicating, and collaborating with different individuals and organizations. Networking may help companies find new business clients or partnerships and conduct workshops and brainstorming sessions. Greater productivity as a result of increased engagement!
- Make a lasting impression. Equipped with amenities such as conference rooms, video conferencing hardware, meeting rooms, coffee shops, and exercise and lounge areas, co-working spaces can be great to work in. They are even better for start-ups and young entrepreneurs on a budget, eager to make first and lasting impressions on clients and employees alike.
- Take Care of Health and Mental Well-Being: Modern co-working offices are often equipped with state-of-the-art health and recreational facilities that employees can make use of. Many are ensconced in lush, verdant spaces that further contribute to employees’ mental and physical well-being.
- Save Costs: Co-working spaces come equipped with a bunch of perks that characterise an office setup, such as cleaning staff, a printing facility, coffee, and snacks. When renting a co-working space, employers could choose to pay only for the amenities they plan to use, enabling them to save costs.
Disadvantages of Working in a Coworking
While coworking spaces offer many benefits, there are also some disadvantages to consider:
- Lack of Privacy: Shared work areas can limit privacy, which might be a concern for those handling sensitive information or requiring confidential conversations.
- Limited Personalization: Since the space is shared, personalizing your work area is often restricted, which might impact comfort and productivity for some individuals.
- Security Concerns: Sharing a workspace with strangers can raise security issues, both for physical belongings and digital data.
- Different Work Styles: The diversity of professionals in a coworking space means different work habits and cultures, which can sometimes lead to clashes or a less cohesive environment.
Working from Home vs. Working in a Co-working Space: What is the Difference?
While employees are increasingly being offered the opportunity to work remotely, many organisations are realising that their workers can be more productive if they enjoy flexibility with regard to their location. Here’s a table comparing the features of the two modes of working.
Working from home |
Working in a Co-working Space |
It saves time and money spent on commutes. |
There is no saving of money or time on office-working days. |
There are high chances of getting distracted by household chores. |
a peaceful and professional environment conducive to work. |
Can get lonely and exhausting. |
Great for networking, collaborating, and discovering new opportunities. |
Work could be affected as a result of poor internet connection, uncomfortable chairs, limited lighting, and so on. |
All amenities are present, including private meeting rooms, printing facilities, adequate lighting, fast internet, and all-day refreshments, among others. |
Why choose coworking offices?
A co-working space is designed to harmoniously accommodate workers from different organizations, providing convenience and cost savings through shared infrastructure and utilities. Post-COVID, these spaces have gained popularity as many companies adopt hybrid work models, reducing the need for a full-time office presence. Co-working spaces offer flexibility, allowing employees from various locations to collaborate in person occasionally and providing a social environment that combats the isolation of remote work. This setup is particularly beneficial for small and medium businesses, offering a cost-effective solution while they refine their office plans.
Build a community easily.
Not only do coworking spaces help in removing social boundaries, but they also help in building a community of connections. Moreover, working in a place with like-minded people can further increase energy.
A great place for networking
A coworking space usually has several businesses from different sectors in the same room. Thus, the networking opportunities are even higher. It can also result in better collaboration while allowing a free flow of ideas.
Work-life balance
Working from a coworking space also allows employees to have a healthy demarcation between work and their homes. It can reduce the chances of blurring lines between personal lives and work and thus reduce burnout.
Top-notch facilities
Coworking offices provide access to best-in-class facilities, which ensures employee well-being. Employees can work in peace with the latest amenities around them. They get shared or private desks, high-speed internet, great furniture, meeting rooms, and other facilities.
Questions to Ask When Choosing Between Working from Home and Coworking
To make an informed decision, you must ask yourself the following questions:
- Where do I feel more productive and less distracted? Which option better supports my work-life balance and mental well-being?
- Do I prefer the social interaction and networking opportunities of a coworking space, or do I work better in solitude?
- What resources and amenities do I need (e.g., high-speed internet, office equipment, meeting rooms), and which environment provides them?
- How important is the convenience of working from home versus the potential commute to a coworking space?
- What are the financial implications of each option, including coworking space fees versus home office setup and maintenance costs?
- Which option offers more flexibility in terms of working hours and adapting to changes in my schedule?
- How important is privacy for my work, and which environment better ensures the security of my information and belongings?
- Do I have a comfortable and dedicated workspace at home, or would a coworking space provide a more suitable environment?
- Does my company have any preferences or requirements for where I work, such as needing to be in a specific location for meetings or team collaboration?
- How do the health and safety conditions compare between my home and a coworking space, especially considering current public health concerns?
- Does my work require a professional setting for client meetings or presentations that a coworking space might better provide?
Is co-working in London more suitable?
The clear answer is that coworking in London can provide all the perks and amenities of a fully functional private office. And what’s better is that coworking offices come at a fractional cost, including furnished space and other facilities. Moreover, it allows people to connect within an ecosystem of different entrepreneurs while socialising with like-minded people.
Coworking space in London is comparatively less expensive than in private offices. Coworking space providers like Go Bermondsey provide fully serviced office spaces and meeting rooms. Choosing managed office spaces is always an option if you believe they get crowded and have an intrusive environment.
Compared to working from home, coworking offices have many advantages. Many premium coworking spaces also provide flexible memberships, so one doesn’t have to book the space for a long time and can choose it based on their timetable. Moreover, it helps keep the workers flexible, as they can adapt to the changing environment.
Final Thoughts
Choosing between working from home and coworking in London can take time and effort. While it can vary for people, coworking spaces indeed make the work environment more conducive while also increasing the scope for better collaboration. One can look at the available options and gauge them against the requirements in combination with one’s personality to choose the best option.
Garden Office Bermondsey is one of the best places if the requirement is for professional office spaces in London in a prosperous environment. It provides a highly conducive environment for business and a peaceful workplace. The beautifully designed premium coworking space allows you to choose between private offices and meeting rooms. So, what are you waiting for? Get your team to experience the combination of heritage and contemporary style.