Co-working is no longer the sole preserve of digital nomads and startups – enterprises and professional firms are also getting in on the act, making it more mainstream. Globally, the number of co-working spaces in 2018 was double that of 2015, and is set to continue to grow a further 43% between now and 2022.

Just two years ago, most big enterprises would not consider co-working as a viable option to host their employees. Today, corporations from various industries are actively considering the options and possibilities that co-working brings. Major corporations like Microsoft and Deutsch Bank, and other heavy hitters have made co-working spaces their home thanks to WeWork and other global payers.

WeWork, for instance, hosts 300 employees of HSBC bank in its Hong Kong space. Large enterprises that use co-working in lieu of traditional offices are using these more engaging spaces to promote innovation and collaboration.

One reason is to keep remote enterprise workers engaged and happy. A Reuters article suggest that while we want flexibility so much, there is a tradeoff. Its research shows that remote workers are more likely to quit because of loneliness as well as low engagement. The reason why WeWork exists is because people want the human connection. Otherwise, people would just work from home.

A study by Emergent Research and GCUC found that among co-working members surveyed, 89% reported they are happier, 83% reported they are less lonely, and 78% reported that co-working helps keep them sane.

Professional firms like transaction advisors and lawyers are getting in on the trend, whereas previously they might have felt that a co-working space would project the wrong image.

The other category of co-worker is that of freelancers, independent contractors and part-time workers, which will represent 40% of all co-workers by 2022.

People are attracted to co-working spaces to be able to network with like-minded people, or those in the same sector. A Geneva-based fintech accelerator, for which I mentored on a volunteer basis, offered the use of its co-working space as a benefit to its mentors. The F10 fintech accelerator in Zurich (where I mentor) is now offering co-working space to fintech companies, positioning itself as a “fintech hub”.

An interesting observation is the increase of female workers on the co-working scene. A survey conducted in 2017 shows 44 percent of co-working members are women. It can be expected that of 2019 roughly half of the co-working industry will be female.

The combination of professional networking, social interaction, mutual support, productivity, work-life balance, wellness and flexibility that co-working offers suits many of us quite nicely.