Category: Flexible work arrangements

Is a Co-Working Space Right for You?

~ The Regal Writer ~ Leave a comment

man-162605_1280

Whether you work as a freelancer or a remote employee, sometimes working at home or at a coffee shop just doesn’t fit the bill. What other options are there?

For many, co-working spaces – where for a fee you can reserve a desk or private office – is the ideal solution. Co-working spaces have become a BIG thing these days. A new one seems to open up each week.

As more and more individuals gravitate toward freelancing and working remotely, co-working spaces provide a place to work away from home without the long-term commitment or cost of a permanent office. But just like anything else, co-working spaces have their pros and cons.

Amenities
Pro: Co-working spaces offer numerous amenities, similar to what you might find in a typical office environment. You’ll find open desks, wi-fi, complimentary refreshments, and meeting rooms. Some larger co-working places may offer support services, workshops and networking events to help you with your business. If you want to treat your business as a business, not as a temporary hobby, working in a co-working space can put you in the proper mindset.

Con: There may be a limited number of private offices available for use, and usually at a higher cost than an open desk. Because of the limited supply of offices, they may not always be available when you need them. Open desks are usually available on a first-come, first-served basis, which means you take your chances that one will be available when you show up. It also means sharing those desks with other people, and transporting your own materials back and forth.

Cost:
Pro:  Co-working spaces offer a range of cost options, depending on how much you plan to use the space and in what capacity – from monthly fees to hourly rates and packages. Co-working spaces are more affordable than renting a commercial office. If you’re established in your business or if your employer is willing to pay for part or all of your rental expense, a co-working space may be a solid choice.

Con: Even at the lowest price range, co-working spaces can still be costly, especially if you don’t have a steady income or you’re just starting your business. Which is why many freelancers and remote workers opt for the local coffee shop or library.

Commuting:
Pro: Many co-working spaces are becoming more localized. Because so many are popping up within local neighborhoods, there may be one close to your home, accessible by walking or biking.

Con: Commuting distance may have been one of the reasons you left your former job in the first place, so commuting to a co-working space may not hold much appeal. You have to allow for travel time, traffic and the cost of transportation.

Community/Networking:
Pro: Many remote workers seek out co-working spaces for its networking potential, to connect with other remote professionals. You never know who you might meet there – a graphic designer to help you redesign your client’s logo, for instance. Many members of co-working spaces appreciate the sense of community that the space brings.

Con: While co-working spaces are great for building your network, they may not provide a lot of privacy. Since you are surrounded by other workers, the lack of privacy may be detrimental to your work.

ground group growth hands
Photo by Pixabay on Pexels.com


Working Around Others:
Pro: It can be difficult to work alone at home without anyone to talk to. Many freelancers and remote workers claim that the one thing they miss is the camaraderie of the office environment. Co-working spaces replicate the traditional office environment in that respect. Many remote workers prefer working in public places like coffee shops and co-working spaces because they like having people around while they work. They claim it helps them be more productive. If you want to break up the monotony of work, there is usually someone around to chat with.

Con: Along with the occasional productive conversations in a public office space, there’s also the potential for loud talkers and chatty, gossipy co-workers. It can be tempting to get caught up in lengthy conversations with other workers, distracting you from your work. You might overhear conversations that you prefer would be kept private. Regular users of co-working spaces suggest bringing a set of headphones to block out the noise and let people know you are too busy to converse with them.

Schedule:
Pro: Many co-working spaces operate nine to five, offering the same set schedule of operations as a typical office environment. So if you’re used to working a nine-to-five job, you can work a similar schedule in a co-working space.

Con: If you work at odd hours, are on a tight deadline or are part of a start-up, the traditional nine-to-five office schedule may not benefit you.

Business attitude:
Pro: A co-working space may put you in a stronger business mindset. Knowing you have a place to go once a week or more frequently helps you treat your business as a business and not as an interim hobby until a real job comes along. Because the co-working space provides meeting space, it’s a more professional setting to meet with clients than a coffee shop or your home.

Con: Even in a co-working setting, you may still be faced with the same temptations – daydreaming, staring out the window, browsing your favorite websites, reading your horoscope. As long as there is no one looking over your shoulder or checking in on you, there will always be the temptation to take lots of little breaks to get through your day. You need self-discipline to accomplish your daily tasks, no matter where you work.

As the population of remote workers and freelancers continues to grow, expect to see more co-working spaces open up to accommodate them. But co-working spaces are not for everyone. Know the pros and cons before you decide to invest in one.

Relevant Articles
6 Pros and Cons of Joining a Co-Working Space
Before You Commit to That Coworking Space, Know the Pros and Cons
Pros and Cons of Coworking Spaces

Two Surveys Give Differing Perspectives of Freelancing

~ The Regal Writer ~ Leave a comment
Fruit baskets
Image courtesy of Hubspot

What is it really like to work as a freelance professional? It seems many Americans are gravitating toward that kind of work lifestyle these days. According to the 2018 Freelancing in America survey by Upwork, nearly 57 million Americans worked as a contractor or freelancer in 2018, making up roughly 35 percent of the workforce. That percentage is expected to grow to 50 percent by 2027.

In Upwork’s survey, a majority of freelance workers work independently by choice, not out of necessity. While many freelancers surveyed admit they earn less money, they also enjoy better work-life balance (77 percent).

With so many freelance professionals flooding the workforce, it might be helpful to learn more about this independent work arrangement. What is so appealing about working  freelance? What are the pros and cons? What type of work do they do? How do they find clients? What are the benefits and challenges?

A survey by Flexjobs.com of 1,000 flex workers and freelancers provides some valuable insights, including some that are surprising and unexpected.

According to Flexjobs, the typical worker whose freelance work is their sole source of income is a female, generation Xer working in the marketing, editing, writing and creative career fields, primarily for small companies and individuals and juggling two to three clients at one time. She has been freelancing for at least three years and plans to continue freelancing for the long-term.

Interestingly, that conflicts with the Upwork survey, which indicates that Millennials and Generation Z workers are the driving force behind freelance work. I suspect that many of Upwork’s estimated 12 million site users fall into those demographics, while Flexjobs’ users are older, more experienced professionals.

Flexjobs reports that while 45 percent of respondents have been freelancing at least three years, 38 percent have been doing so for less than one year. That’s an awful lot of newbies in the market. Interestingly, that percentage dips to 18 percent for one to two years. My guess is the drop off occurs because the newcomers have decided to return to full-time work or that the first year of freelance was to test the waters.

While most freelancers work in multiple fields, the highest percentage are writers (29 percent) followed by customer service professionals (23 percent) and administrative professionals (21 percent). While writing is still considered a valued skill by employers, it seems they’d rather hire them out on a project basis than full-time.

Roughly 24 percent report that their work is a combination of freelance and employee jobs while 45 percent choose to freelance full-time. While 39 percent of freelancers work between 21 and 40 hours per week, 35 percent work less than 20 hours a week. I suspect those working fewer hours are new to freelancing and have yet to build up a steady client base. Or perhaps they choose to work freelance on a part-time basis.

More than half of respondents said they found gigs through networking (56 percent) and from job sites (47 percent). While you would think large companies would be the source of most assignments, that isn’t the case. Instead, most freelancers work for other individuals (56 percent) followed by small companies (46 percent), and mid-sized companies (30 percent). Freelancers worked for large companies only 17 percent of the time. The takeaway from this is if you want to find work, the best sources will be other professionals or small businesses.

Another surprising tidbit: Three-fourths of freelancers do not have a website to support their freelance business. If your work is good and you perform client assignments well, word gets around. Clients will find you. Don’t underestimate the power of a strong referral. A website may not be as necessary for your long-term freelance success as you might believe.

The biggest benefits of being a freelancer are flexible schedule (84 percent), work-life balance (66 percent), freedom to work where they choose (61 percent) and no commuting (60 percent). The desire to be your own boss was cited the least (49 percent)

The biggest challenges for many freelancers are finding clients, cited by 65 percent, and having a steady income, cited by 64 percent. That’s nothing new. Despite the romanticized view of freelancing, often by traditional employees working 60-hour work weeks, freelancing is hard work. One critic of the Upwork survey and the rosy picture it painted of the freelance industry said this: “People who don’t have to freelance love to romanticize freelancing – the actual truth is that making a living as a freelancer is harder than hard and sucks a ton of the time.”

Bottom line: Not everyone is cut out to be a freelancer or entrepreneur.

Despite the challenges, two-thirds of freelancers in the Flexjobs survey reported a better overall quality of life. Sixty percent said freelancing helped them become healthier, 66 percent are less stressed than when they worked in a traditional job and 59 percent are less financially stressed.

Anyone considering freelancing needs to consider the good, bad and the ugly side of the business. For all its outward glamour, the freelancing lifestyle still requires a lot of hard work just to make half of what you earned in a steady gig. Upwork may boast 12 million freelancers using the site, but only 400,000 of them actually earned money in 2018, says Stephane Kasriel, Upwork’s founder.

“Like any business to be successful, specific competencies are required, and our most successful freelancers are painstakingly aware of what they need to do to remain successful. That means having and investing in the right technical skills. But it also means having the right entrepreneurial skills, the ability to sell, deliver, evolve your skills and keep improving over time,” says Kasriel in a Forbes interview.

Which might explain why so many freelancers and small businesses struggle within the first year. Freelancers don’t think about the extra time and work involved to evolve their skills or to sell their services when they set up shop. It’s important to think about these factors when considering joining the freelance movement.

5 Ways to Make Remote Working Work for You

~ The Regal Writer ~ Leave a comment

Remote working.jpeg
Congratulations! You’ve just been offered a job that allows you to work remotely either full time or a couple of days a week. Or perhaps your boss has finally given his approval for you to have a more flexible schedule so you have time to care for an ailing parent or pick your kids up from school. You’ve just become one of the growing number of remote workers in the U.S.

According to the 2017 State of Telecommuting Report, produced jointly by Flexjobs and Global Workplace Analytics, 3.9 million U.S. employees, or 2.9 percent of the total U.S. workforce, work from home at least half of the time, up from 1.8 million in 2005. That’s a whopping 115 percent increase since 2005. The average remote workers is 46 years old, holds a bachelor’s degree and earns a higher median salary than an in-office worker.

What makes this shift possible is rapidly changing technology, which allows workers to connect with their in-office mates, and the changing family dynamic. Many of today’s households are headed by a single parent or with two working spouses, making it difficult to meet responsibilities at home. People are also increasingly recognizing the value of work-life balance and don’t want to waste their time on lengthy commutes.

So if you are one of the lucky ones who can work from home, here are a few things to keep in mind to make the most of your remote work opportunity.

1. Develop a new routine. Once you are working from home, you may find that your normal work routine won’t necessarily transfer over to your home life. That’s because you may have home responsibilities that may disrupt your day, such as taking a parent or child to the doctor. Your day will need to be planned around these activities, which you may not have had to do before. Further, you may spend more time planning your day than actually completing work tasks, making you less productive. Depending on your personal situation, you will have to use some ingenuity to figure out a new routine to work productively.

2. Honor your commitments. Take your remote work opportunity seriously. Be available for team meetings. Start your day at the same time, even if it means starting at 6:30 am. Meet your deadlines. Meet with your boss regularly, by phone or by Skype. Make sure you understand what is expected of you. Your company is trusting you with this arrangement, so it’s up to you to show them you are able to continue to do your job at the same or higher level of effectiveness than before.

3. Keep the lines of communication open. Even though you may work from home, you are still part of a work team. Not all remote workers feel this way. A November 2017 Harvard University study found that many remote workers reported feeling shunned and left out by their in-office workmates. Office politics can play a big role in this. It’s up to you, your manager and co-workers to communicate on a consistent and timely manner so you feel you are part of the team. Set up weekly meetings and conference calls. Be available to answer co-workers’ questions. Put project details in writing. Be present; be visible. Don’t be a ghost.

4. Make space at home. This may seem like a no-brainer, but make sure you have a designated space in your home to work with few interruptions. Make sure your technology and wi-fi is up to date, that you have a comfortable chair to sit in. If possible, keep the door closed so you can work quietly and let others in the household understand that you can’t be disturbed unless there’s an emergency.

5. Monitor your work hours. Believe it or not, working remotely may open up the possibility of working longer hours than you anticipated. A recent Quartz study finds that remote workers who have more direct control over their hours tend to work longer hours, thus increasing their chances of burnout. Keep track of how much time you spend working. If you feel overworked, bring the issue up with your manager before burnout hits.

Not everyone is on board with remote working. A March 2018 survey by Crain’s Chicago Business finds that many Chicago area businesses are slow to adapt to remote working programs. Nearly four out of 10 respondents (39 percent) said their company does not offer flexible schedules at all or if they do offer them, they are difficult to use. One out of four (25 percent) respondents said their company does not allow employees to work from home, while 20 percent reported that the option is offered but their company makes it difficult to use.

According to a 2017 survey by Cyberlink, one in six workers think remote workers are less valued by their company and get promoted less often. That kind of mentality can  deter workers from seeking remote opportunities within their own company.

Despite some of the drawbacks and slow adoption by many businesses, remote working and flexible work arrangements are here to stay. As more workers realize the importance of creating better work-life balance in their lives, they will continue to demand more flexible work options.