The Hybridization of Work: Will Coworking Survive?

In 2020, I completed a summer undergraduate research fellowship (SURF) for the McDonough School of Business at Georgetown University. The topic of my research was how the coworking sector would recover after COVID-19.

Abstract:
As the pandemic halts office leasing across the world and drives workers from their cubicles to their home office setups, the nascent coworking industry is doing all it can to stay competitive. Despite the compound annual growth rate (CAGR) for coworking spaces in 2020 hovering around -12.9%, massive layoffs, and even the largest operators asking for rent relief, the aftermath of the pandemic may prove to be a boon for coworking. This is due to the remote revolution and hybridization incentivizing companies to downsize their real estate in favor of flexible arrangements. Remote workers will look for community, and small coworking firms will merge and provide more value to their customers. Using a case study of IWG PLC, one of the largest players in the space, a Porter’s Five Forces framework of the industry, and a literature review from leading coworking and organizational behavior theorists, I make a case for coworking as the future of office space.

Key Words: Coworking, Virtual, Hybrid, Office Space

To access the whole research paper, as well as other students’ work, visit here.