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Why flexible workspace will emerge stronger from COVID-19

Stone Soup is taking part in the discussions about the future of coworking and has frequent conversations with coworking operators and community managers from around the world. It is a collective effort to tackle the best way we can the current crisis and emerge stronger. The fight we are up against needs a united front. 

The change will obviously happen

While things are slowly getting back to (the new) normal, one thing is for sure: Coworking as we know it will have to change to survive. Coworking spaces are known for their communal areas and shared amenities. However, keeping a coworking space safe in a post-coronavirus world will probably lead to more dividers for personal space and private offices. 

Despite this tangible setback, industry professionals believe that in the long run, the coronavirus outbreak will not hamper appetites for “real-estate-as-a-service” models. In contrast, the belief is that the recovery from the crisis could serve to drive up demand for flexible office space.

Local or Global: Who has better chances to survive?

Each country has what we call a Local Champion: a homegrown player which competes with the international incumbents in each country. The local players are in a better position to handle local inquiries and manage their financial stability according to CEO of FlySpaces, Mario Berta.

Can we foresee the future using industry data?

The future of coworking

The answer is no, unfortunately.  Most economic forecasts, for the most part, are just guessing.

The problem is, there is very little data to go on. That’s because we are experiencing a black swan event. The term was popularised by author Nassim Nicholas Taleb in his 2007 book, The Black Swan: “The Impact of the Highly Improbable”. It talks about very low probability events that have an extremely high impact if they occur, like the CoronaVirus. So basically we’re in uncharted waters. There is no historical data to make forecasts, as we haven’t experienced anything like this. There are too many unknowns.

Exploring new behaviors

What we can do to draw some conclusions is to observe and understand 4 emerging behaviors of companies and individuals.

  • Companies are investing in remote work infrastructure and learning how to do it. Remote work is an example of a trend that has been amplified by the CoronaVirus crisis. The growth of remote work is teaching companies that it’s easier to integrate independent workers into their teams.
  • Companies will increasingly take advantage of the flexible terms of a coworking space rather than taking on long-term leases. The need for flexible terms will continue, perhaps even more rapidly. If anything, this crisis highlights why flexibility is valuable for companies.
  • These behaviors are also happening on a personal level, as people have been seeking to reduce commitments and ownerships. There has also been a steady rise in independent work, with more freelancers and independent contractors.
  • Similar to the “first time online shoppers” via e-commerce platforms, the crisis will generate a new number of tenants that will experience flexible office space and its benefits for the first time. Those tenants will most likely prefer flexible spaces over their permanent office in the future.

The pandemic is amplifying these trends and making them more powerful than they were before. The good news is that all of these trends – the reduction in long term commitments, the rise of independent work, and the desire for more flexibility and agility – will eventually push more people into a flexible workspace.

#3 reasons why flexible workspace should emerge stronger

 

Reason No. 1: The Need for Flexible Leases 

Once the lockdown period ends, companies will lay more emphasis on cost optimization. Especially if the recovery is slow and halting, companies will probably look for options that will allow them to easily exit if they are forced to send employees home once more.

They will be seeking alternatives to traditional long-term office leases and there is an undeniable market demand for flexibility and enhanced tenant experience, which we expect to continue beyond the near-term negative economic impact of COVID-19.

flexible office lease

Reason No. 2: Remote Workers Have to Work Somewhere

Many people are now just becoming comfortable with remote work for the first time and figuring out ways to make it efficient. That could mean more employees and employers become comfortable with it. But that doesn’t mean all those remote workers will work at home forever. After a couple of months of lockdown and working from a home environment – with distractions, not enough usable workspace, or reliable Internet access – our guess is that people will be eager to work from somewhere else.

Shared workspaces, nearer to a home location, may actually be the ideal solution for many in the future months. They will give workers a flexible workspace to work and have the essential social contact lockdown has robbed from so many, yet affording non-crowded, quiet and easy to use facilities.

Reason No. 3: Community is Key to Recovery

Entrepreneurs, business owners, and workers will need social networks and local connections more than ever to regain their footing. Community strength will be essential in helping people reconnect, build new networks, and support each other.

Coworking was an idea that was founded on community, however, it had become an industry driven by real estate. A race to monopolize the industry created workspaces that required ‘as many bums on seats as possible’. Community became an afterthought. Stone Soup was created in order to bring community back to coworking. Employing generous workspace and large, flexible work areas to encourage a sense of calm. We believe that human beings should work side-by-side, not on top of one another.

 

COVID-19 and coworking in Athens

Are coworking spaces closed because of COVID-19?

Numerous countries around the world are in the beginning stages of managing their own outbreaks, in each country the situation is very different and governments make their own decisions about how they can deal with the virus best. In Greece, it’s been a week since most companies and organizations were instructed to conduct their businesses remotely.
It’s crucial that we all follow our country’s respective measures and instructions for our health and protection. Even if Stone Soup is not directly obligated to stay closed, we have taken all precautionary measures and since March 12th we are not accepting any new members. As all coworking spaces are based on the social interaction of their members, we have recommended to our members to work from home as much as possible.

Stone Soup coworking community

This abrupt lockdown and necessity to work from home, is disruptive and apart from having to recalibrate your tasks and your own workspace, you may also face difficulty to concentrate and a feeling of solitude. This is why coworking space operators are exploring how we could work together online and keep the human interaction alive. 

To keep the community of Stone Soup active we boost our communication on online channels like Slack. Feel free to visit the #westaytogether channel to get webinar invitations, to share things to do, to arrange video calls, to share yoga videos or to start a group for people to enjoy online video games together, and many more ideas. COVID-19 virus shouldn’t put the coworking spirit in Athens down!

Stay tuned ’cause from Monday 23rd and on, we will start our Virtual Coworking (VC) sessions. At 10:30 we are going online and we want to see familiar faces and hear familiar sounds, while we all focus on our tasks. If you can’t do without this passive ambience of an office space full of people getting work done, join us! Let’s cowork virtually in Athens, and lets – under these peculiar circumstances- try to minimize the side-effects of COVID-19 and all negative thoughts.

You will get the rest details about Stone Soup’s VC operation through Slack by the end of the day!

Why Life in Athens is Attractive to Remote Workers?

Life in Athens is exciting. If you don’t go to neighborhoods like Acropolis or Plaka you will find yourself exposed to the local people and culture, while living in the center of the city is affordable and not a status quo indicator.

That was the reason why Paulin chose Athens as his base over other European cities. Paulin is a young full-stack developer from France who switched to a remote working lifestyle and he joined our space to share workspace and to meetup with other residents.

work remotely

Life in Athens is Different

Having worked and lived in several capital cities like Paris, Madrid, Lisbon, and Athens, Athens was the one to win him by comparison. Despite its rich history and many sightseeing opportunities Athens still remains affordable without losing its authenticity, even in the city center. This is quite rare for a big European capital city, as most of them end up as huge expensive tourist traps.

What he finds attractive is the hectic way the city is organized, and the possibilities this imperfection provides. Due to its flawed nature, there are lots of organizations determined to reform the community and to create a functional environment for the various vulnerable groups of people. This state invites Paulin to dare think of ways of improving the everyday challenges and make a positive impact on his local context. Therefore, upon his arrival, he was drawn to pick a cause and become part of the change in need.

Following a Social Cause

Paulin discovered quite by chance Social Hackers Academy, a coding school, where they teach vulnerable groups of people, and that was a cause he wished to volunteer to. SHA aims to enable refugees, migrants, and unemployed people to develop skills in the ICT sector and consequently find a job.

He joined in October 2019 as a volunteer teacher of Web Development courses instructed in English and he thinks highly of the whole idea and execution. In a bit more detail, each class is composed of around 15 people, and while the preparation of class material is mostly taken care of by the organization, the instructor gets the freedom to approach the topic of the lecture by choice.

The class is practical with students using laptops during it, and the environment is pretty dynamic and well-organized with a substantial impact on the student’s skills and life.

It is truly fulfilling to see those people successfully following every lecture and being able to take advantage of the opportunities they get. Knowing that there are former students who have found jobs afterward makes it even more meaningful and fuels the cause!

Further Information about SHA:

If you are interested to get somehow involved too, your input would be more than welcome. Specifically, SHA needs mentors in Hard Coding, and Soft Skills, people to run Workshops and/or speak in monthly Meetups, Marketing and Communications specialists as well as laptop donations and any possible funding support. Feel free to contact them and talk to them in person.

Meet the Cybersecurity experts among us!

The new generation of Stone Soupers contributing to brain gain and cybersecurity! They have studied and worked abroad, and they are now back to their homeland contributing directly or indirectly to the Greek ecosystem.

Meet Orestis and Nikos, the Greek members of CyberLens, a company focused on cybersecurity and privacy technologies, based in London, UK, and Eindhoven, Netherlands. “Our job is to use data retrieved from research and apply them in everyday situations” they tell us. CyberLens acts and responds to the European Commission’s open calls for various topics that require a solution. They collaborate with several partners and stakeholders to bring competitive advancements to the European market. The fact that they now operate in Athens brings the opportunity for more collaborations with Greek partners and organisations on such projects.

Who is who?

Nikos has lived his life moving from Athens to Utrecht and then Brighton due to his studies and now he is back to Athens using all his knowledge and experience. Nikos speaks Greek, English and Italian and may help you if you need any clarification on the concepts of cybersecurity and privacy issues while browsing on the web. His passion is to scan research projects and deduct useful outcomes that can be utilised in the proposals they are working on. He thinks the most accurate approach of cybersecurity in filmography is Citizenfour, a national security documentation with Edward Snowden regarding one of the biggest news stories of our time.

research cybersecurity
cybersecurity

Orestis has studied and worked in England for 4 years and returned back to the Greek capital a year ago. Orestis speaks Greek, English and German. He is a master of disaster regarding all cybersecurity and privacy topics and when he is not busy saving the world, he is dancing latin dances! Orestis considers the way hacking is depicted on screen as misinformation. He agrees with Nikos’ view of Citizenfour, and he adds Zero Days documentary to the list.

Tips from Cybersecurity experts

Being involved professionally with the web often makes you the ambassador of its proper and safe use among your company. Here are some tricks Nikos and Orestis shared with us on how you can protect yourselves when using the web.

  • Security incidents usually happen when you try to avoid paying for an online product (e.g. illegally downloading a game, streaming a movie/tv-series from non-official provider). But, hey! You know what they say; “if you don’t pay for a product, usually you are the product”. So, you better thoroughly consider the risks before you act.
  • When you create a password it is better not to use information such as date of birth, because they are very easily traceable. Instead, you could use password managers or use medium length sentences; such as “switch off the led lights tonight”.
  • And last but not least, try not to use the same password for all your accounts. But everybody knows that..right?..right! hmm..! Well, yes, it is wise to have that in mind as it makes us extremely vulnerable if one of our accounts is part of breach (such as the ones we hear on the news..).