As organisations and employees embrace the benefits of flexibility and autonomy, the rise of remote working solutions has become a defining trend. According to an article in the NZ Herald, “Auckland's coworking scene continues to evolve, and rapidly, now representing the fastest growing occupier of office space in the city...”

Quoting Lloyd Budd, Auckland commercial director for Bayleys Real Estate, “What was once the domain of smaller businesses, techies, entrepreneurs, start-ups and creative companies looking to collaborate with like-minded people, share ideas, services and reduce rental costs, coworking has attracted many in the corporate sector who want to tap into the start-up culture and win new talent and new clients."

This article explores the evolution of remote work and the emergence of the third workspace as a valuable addition to the modern work ecosystem. We'll delve into the advantages of remote working, the challenges it presents, and how Studio DB can help businesses create effective remote working solutions.

The Advantages of Remote Working:

Remote working offers numerous advantages for both employers and employees. From increased flexibility and improved work-life balance to enhanced productivity and access to a broader talent pool, the benefits are substantial. Employees can choose where they work, enabling them to create their ideal work environment and tailor their schedule to maximise productivity. This newfound freedom fosters greater job satisfaction and reduces stress, resulting in higher levels of engagement and retention.

For employers, remote working can lead to cost savings by reducing office space requirements and overhead expenses. In a recent in-depth analysis conducted by Fortune, the financial benefits of companies adopting hybrid or remote work models and downsizing their owned and long-term leased real estate footprints were highlighted.

• “50% of their real estate costs when they switch to hybrid, according to IWG CEO Mark Dixon — and CFOs are “really focused” on the potential savings.
• $11,000 for every employee who starts working remotely two to three days per week, thanks to reduced rent, increased productivity, lower absenteeism and lower employee turnover, according to new Global Workplace Analytics research.

Hybrid work models also open doors to hiring top talent from around the world, as geographic limitations are no longer a barrier. By embracing remote working, businesses can tap into a diverse pool of skills and perspectives, driving innovation and creativity within their teams.

The Emergence of the Third Workspace:

Enter the third workspace, which refers to alternative locations where individuals can work beyond their home or office environments. These third workspaces include coffee shops, coworking spaces, libraries, hotel lounges, and more.

The appeal of third workspaces lies in their ability to provide a change of scenery, facilitate networking opportunities, and offer access to amenities that might not be available at home. They can serve as a hub for collaboration, enabling teams to come together in a professional environment outside the traditional office.  

Third workspaces also offer individuals a chance to connect with people from different organisations, fostering creativity and expanding professional networks.