Why is Coworking So Popular Amongst Gen-Z and Millennials?

As millennials and Gen-Z started to enter the workforce, many businesses were forced to rethink their traditional practices to embrace the new generation’s mindset towards work, as well as attract and maintain young talent. Off the back of a global pandemic which accelerated digitalisation and the evolution of flexible working trends, a rise in the demand for coworking places became all the more prominent. Hong Kong is no exception, where we have witnessed a boom in coworking spaces across many districts in the city, from Quarry Bay to Causeway Bay to Tsim Sha Tsui.

But why exactly is coworking so popular for Gen-Z and millennials, and how does it work? Read on for some reasons why coworking spaces have become the most attractive option for young workers, and how these benefits could start influencing other members of the workforce:

Flexibility

Now that the world has been exposed to new ways of working remotely, it may be hard to go back to the stricter norms of a traditional office. Many Gen-Z and millennial workers enjoy the level of flexibility that a coworking place gives them. These individuals are attracted to the many different options available when it comes to choosing their perfect workspace - whether it's hot desks, dedicated desks, private offices, or even virtual offices. It also becomes easier for entrepreneurs or businesses to scale up or down as needed with the multitude of private office spaces and desks available.

Younger workers and remote workers are also partial to working at times that best suit their schedules, which is why most coworking spaces are open 24/7 to allow for productivity at any time of day or night.

Additionally, some coworking spaces offer day passes or free trials before one commit to a full membership, adding another level of flexibility to be enjoyed without needing to settle down right away. Many coworking spaces also have several different branches, which becomes a great perk for the modern professional looking to work at different locations across the city.

Affordability

Especially somewhere like Hong Kong where office space rentals can lean towards the expensive side, coworking places offer an affordable solution for many companies, startups, and entrepreneurs to grow their business. Teams of all sizes can find a flexible office space that best fits their needs, with some serviced offices able to tailor private rooms and desks to their unique preferences at a reasonable cost.

Linked to the aspect of flexibility, younger people appreciate how coworking membership plans can usually be fixed according to how often they need to use the space, from full-year contracts to monthly or weekly plans. This allows them to save greatly on space, by not only finding a place to work that perfectly accommodates their team size but also when the team will actually be working.

Community

A sense of belonging is extremely important amongst younger generations, and this does not discount the place in which they come to work. Community and collaboration go hand-in-hand within a coworking place where members can interact with each other on a daily basis, especially those who hot desk or work from communal areas. There is also the opportunity to learn from individuals with different backgrounds and from multiple industries, making the coworking experience more interesting than just being exposed to one industry or company within traditional offices.

Many coworking spaces also host regular networking events where members can work together, share ideas, or relax and have a happy hour drink after a long day. This creates a welcoming environment where members can feel encouraged and supported by friendly, familiar faces whenever they walk through the door.

Convenience

Gen-Z and millennials crave convenience. A coworking place gives them just that - all the necessities for productivity in one place. These individuals will enjoy how everything comes neatly packaged as part of their coworking internet to take the stress off having to deal with internet providers, find quiet spaces to take telephone calls, or even having to go far for coffee. High-speed internet, printing facilities, meeting rooms, a coffee bar with snacks, and even entertainment facilities become available at arm's reach within a flexible shared office space.

Inspiration

It can be difficult for ideas and creativity to flow without a change of scenery or some mental stimulation. A coworking space is designed to inspire by offering a plethora of areas to explore and work in, either individually or with teams for brainstorming sessions. Being able to work from different spaces can boost productivity and keep workers engaged throughout the day. In addition, coworking places usually incorporate aesthetically-pleasing design elements and talking points, which make them a great place to welcome clients and visiting guests.

Discover the Best Coworking Space in Hong Kong

Now that you understand how a coworking space works and why these spaces are so popular amongst the younger workforce, maybe you want to try out the benefits of coworking yourself. FlexFinder is a one-stop platform for the best coworking spaces on Hong Kong Island and Kowloon. Contact us today to find your perfect workplace solution.