Coworking Spaces To Serve As Corporate Hubs
Being flexible for future fit is important to all organisations but right now it’s a high priority as Irish Corporates re-evaluate their traditional workplace environments. With hopes rising as we look to the vaccine roll-out across Ireland, the pressure is growing as organisations are reviewing their plans for a post pandemic Ireland.
Requirement for agile real estate
With the Irish Government legislation giving workers a right to choose to work remotely coming into law soon, organisations are increasingly looking for agile solutions to cope with the pace of change and are realising that …’they need agile real estate’, according to Olive Keogh, Business + Innovation Contributor, Irish Times who spotted this requirement back in December 2019.
Clearly many Corporates are reviewing whether they need a long lease on their huge centralised office buildings and are now looking to other decentralised workspace, hybrid solutions. Once the preserve of small businesses and start-ups, now more than ever, we predict that larger organisations will increasingly look to coworking spaces such The Tara Building, with its enhanced hygiene measures and numerous space options that offer a safe and welcoming coworking space solution in the heart of Dublin city centre.
Louise Ponting, regional property leader for Britain and Ireland with professional services firm, EY, explained to the Irish Times in December 2019 that she expected to have about a quarter of its employees in coworking spaces within 10 years.
She said, “The cost of real estate is a driver to some extent but the main reason is the ability of coworking spaces to complement our existing traditional sites by providing the agility our business needs. There is a lot of talk about the future of work and how and where people will work, and organisations will increasingly need a flexible real estate function to provide part of the answer. The ability to respond quickly to change will be crucial and the traditional model of long leases is not suited to this.
Hybrid Workplace Solutions
“Coworking spaces are one solution because they come in different shapes and sizes and can generally be scaled up or down to suit the number of people you need in a particular place at a particular time. Coworking space can get you closer to your clients and tick other boxes such as allowing people to work closer to home.”
“There is a lot of talk about the future of work and how and where people will work, and organisations will increasingly need a flexible real estate function to provide part of the answer. The ability to respond quickly to change will be crucial and the traditional model of long leases is not suited to this.’
Jean-Yves Huwart, the founder and chief executive of Social Workplaces which organises an annual European coworking conference, predicts that the number of corporates buying into the idea of coworking space is only going to grow. As recently as 10 years ago, he says, coworking was a novelty and it was a struggle to find examples. Now there are an estimated 22,000 coworking spaces worldwide accommodating about 2.2 million people.
“Technology has made coworking much more feasible,” he says in his interview with the Irish Times. “If you work with a laptop, you don’t need a specific office with a specific desk so we need to be thinking differently about working spaces.
“What we’re talking about is service-based workplace provision and, as it evolves, we are seeing bigger spaces with bigger teams emerging.”
With the disruption caused by the pandemic over the last year, perhaps coworking spaces like Dublin’s The Tara Building will be at the forefront of our return to ‘normal’ as we collaborate and work together in new, engaging and more productive ways. We certainly think this is to be expected.