This new workplace trend may not be so new. Although we may feel co-working is new to this region, this type of real-estate has been growing tremendously worldwide. There are an estimated 35,000 coworking spaces in the world and 2,188 of them opened in 2018 alone. You may wonder what is pushing this trend and why is there a need?
Labor market in transitionAccording to a recent report by Bentall Kennedy, the reason behind this need for more flexible workspace, has been the shift in the labour force and the rise of what is called the “gig economy”. The gig-economy another word for Freelancers, is estimated to represent 75% of the global labour force by the year 2025. You read that right, 75%!
Canada is not immune to this transformation. Canadian employers want the capacity to hire talented individuals who have the abilities and the experience immediately. On the other hand, a worker in the gig economy has the flexibility to choose when, where and which contract they are working on while managing their own output, deliverables, and earnings. This partnership between employers and consultants provides more flexibility that may not be present in full-time traditional types of positions. The millennial generation seems to be embracing this concept at a very fast pace, as it aligns with their value of work/life balance, meaning work to live and not live to work.
Need=Business opportunityWhen Adelin Properties began analyzing the current community needs, they knew they needed to diversify their office space availability before the trend became a problem in Greater Moncton.
Elsewhere in Canada, demand for office space is increasing and some regions are experiencing a very high occupancy rate. The province's economy is also in transition. High-tech companies are more and more present, as well as, diversified teams of several consultants. More than ever, the labour market requires industry knowledge and a capacity to network.
Co-working spaces like La Place allow leaders from different backgrounds and fields to come together and implement new projects that will propel our community forward. It is within transition and change where creative ideas are born.