Coworking is Here to Stay

15 February 2019

Companies are maintaining their bets on flexible work models in 2019, often based on the concept of Coworking, Virtual Offices or Teleworking. The phenomenon is particularly pronounced in multinationals that are ramping up their operations in Portugal. This is one of the main conclusions of a report on new work models, which was conducted by the Research and Development department of Avila Spaces in 2018.

The labour market is constantly evolving and with it, workspaces. According to Carlos Gonçalves, the  CEO of Avila Spaces, “it is important to make these data available to the market and to see if the new work models are part of organisations’ productivity growth and retention strategies.”

The executive noted that coworking is growly strongly in Portugal’s principal cities. In smaller cities, like Coimbra, Faro and Ponta Delgada, demand is already at acceptable levels as well, a result of the success companies have had with Coworking. “The way companies are dealing with workspaces is changing, and currently, they focus on four factors: cost rationalisation, contractual flexibility, comfort/well-being of professionals and opportunities for networking. Coworking spaces have responded to these needs and that is the main reason for their success.”

Carlos Gonçalves believes companies will maintain their interest in collaborative workspaces in 2019, though there will be “an increasing concern for the privacy of professionals.” According to the executive, good practices “point to the simultaneous use of various models: open-space, enclosed rooms, phone booths and leisure areas for short breaks from work.”

The study also concluded that its respondents, especially Millennials and Generation Z, are increasingly looking for flexibility at work: “The new generations want to work with objectives and reject set, 9-6 workdays. They want to work at the office, but also from home, a terrace or a coworking space, “says Teresa Jacinto, director of the Research & Development department of Avila Spaces.

No specific recipe for success

In order to succeed, Carlos Gonçalves says that Coworking spaces cannot just be a set of tables and chairs that companies lease by the day or month. “It’s much more than that: they are shared workspaces, where businesses also have some privacy, such as meeting rooms, private offices and phone booths. There is no recipe for success, but the spaces must be dynamic and with a strong, customer-based focus: both professional and leisure. It is not by chance that of Avila Spaces’ mantra is’ Work. Relax. Enjoy.’ It is essential that people enjoy the space and have fun during their 8 or 9-hour work days,” he says.

The executive says that there are several multinationals in Portugal looking to contract coworking spaces, with its attendant advantages with cost rationalisation, networking opportunities and the quality of life for professionals. “Corporate coworking spaces, such as Avila Spaces, also have dedicated secretarial services, including mail management and personalised telephone services.”

Mr Gonçalves believes that existing technology allows us to work from anywhere and to be more efficient. “As an example, in 2010, Avila Spaces launched our myOffice application, which allows us to be in real-time contact with our clients, notifying them whenever mail arrives, or a telephone call comes in. It also allows clients to book meeting rooms online and provides a networking platform that works as a private LinkedIn, facilitating the exchange of contacts between community members,” he explains.

Teresa Jacinto also believes that companies are investing ever more on the well-being of their employees. “The new generations place great importance on the balance between their personal and professional lives, and prefer to work in companies that offer sports, yoga classes and relaxation and meditation classes in the workplace,” she added.

Workplace Trends Barometer – 2019

  • 77% of respondents believe it is ‘Unlikely’ that they will go back to using traditional offices spaces – in 2017 that number was 53%.
  • 79% of the people adopting alternative work models in 2018 said that they were ‘extremely satisfied’ (versus 45% in 2017)
  • 54% of respondents replied that they adopted coworking (shared workspace) in 2018, up from just 28.4% in 2017.
  • The number of respondents who reported having used alternative work models (virtual office, coworking or telework) at some point rose from 49% in 2017 to 87% in 2018.

Original Story: Diário Imobiliário

Translation: Richard Turner