Coworking Spaces: The Perfect Choice for Millennials

April 12, 2016 | Jennifer Goodwyn

The last few years have seen Millennials graduating from college and joining the workforce in large numbers. In fact, Millennials now represent the largest percentage of the American workforce, making up about one-third. Once seen as narcissistic, entitled, and lazy, Millennials have instead proven themselves to be more innovative, entrepreneurial, and collaborative than the generations which spawned their critics. Millennials are known for being the most collaborative and inclusive generation to date, and their values are significantly influencing the working culture.  

One fundamental way in which Millennials have affected the working culture is the reconsideration of the 40-hour work week. Though this reluctance was once a source of criticism, Millennials have proven a willingness to work long hours on projects they feel are meaningful. However, they have also rejected the idea that they should sit around the office until 5 pm even if they've completed their work. This insistence on schedule flexibility is part what makes coworking spaces the perfect choice for Millennials.

1.       Benefits

Coworking spaces offer the perfect balance of freedom and structure for Millennials. Coworking spaces, where employees of different businesses come together with freelancers, consultants, and even students are a place where the Millennial values of collaboration and teamwork often result in higher levels of productivity and innovation.

2.       More Freedom

The freedom afforded to Millennials by coworking spaces is certainly the most attractive option. Because members of coworking spaces are free to come and go as they please, Millennials can focus on work only when it makes sense. For a generation of people that values their personal time and work/life balance more than any other generation, this model is perfect. This model also works out for employers of Millennials because the coworking approach encourages efficiency and productivity.

3.       Consistent Innovation

In addition to the freedom and flexibility associated with coworking spaces, another Millennial value that's encouraged is collaboration. Bringing people together from different disciplines, with different areas of expertise and different levels of experience has proven to result in consistent innovation. This benefit is unique to coworking spaces because typical offices and employees who work from home do not regularly interact with professionals outside of their organization.

4.       Affordability

In recent years, businesses have been exploring the benefits of unconventional workforce structures by utilizing more remote workers, freelancers, and consultants. The traditional remote worker typically works out of a home office. However, since Millennials have been averse to entering the housing market, preferring instead to rent or stay at their childhood home, they are unlikely to have the space necessary for a home office. For this reason, coworking spaces are beneficial for Millennials because they are more affordable than paying for more space or renting traditional office space.  

Coworking spaces are the perfect choice for Millennials because they afford a higher level of freedom than any other option, foster an environment of collaboration which results in higher levels of innovation and productivity, and are affordable. It is for these reasons that more and more Millennials (and companies who employ Millennials) are gravitating toward using coworking spaces.