Coworking: The Past, Present and Future
Submitted by Sivilay Xayasaene, Gresham Smith
On June 11, 2019, CREW Charlotte’s luncheon program featured a panel of all CREW members who addressed the many questions surrounding Coworking. The panel included Wendy Hill with IWG, Hunter Fleshood with WeWork, Mary Wilken with Insite Properties and moderator Virginia Luther with Savills. The luncheon was also CREW Charlotte’s FIFTH annual Bring Your Intern to Lunch.
The panel discussed where they see the future and evolution of coworking and agree that the trend isn’t slowing down. With market unpredictability, the need for flexibility in real estate has increased as companies of all sizes across industries are less likely to pursue longer term leases. The ability to scale quickly globally is attractive to large companies and the ability to have access to amenities otherwise out of reach for many small firms makes the coworking solution attractive to most organizations.
Across the country, over the last few years we’ve seen a shift in power from employer to employee. According to research from IWG, flexible working is an expectation as a company offering, not just a perk. In the war for talent, having a flexible work environment can be a deal breaker. This approach allows firms to hire people where they want to live – extending their candidate pool for attracting talent, and sustaining retention which are paramount. It’s an ideal choice during good times as well as during a downturn.