Now is a great time to invest in coworking, because smaller companies and larger corporations are starting to put a greater percentage of their employees into shared office spaces. Coworking is an increasing trend of office real estate acquisitions, with employees of various companies sharing office space. Companies often will opt to assign their workers to larger spaces operated by established coworking brands.
For companies with more than one employee, deciding between a coworking site versus a traditional office may prove to be a tougher call. If you want to be in complete control, coworking might not be for you (many spaces come with rules on guests, and decorating the office, and some are not available 24-7).
Started working in a coworking area may help you set up a routine similar to a corporate setting, and it will help keep your mind focused on work. Fortunately, you can take advantage of an existing community within the coworking space, that already has the workplace culture. Even when the back-office jobs are outsourced, advanced technologies are integrated, and automated services are integrated, having the right staff and community managers at the coworking space sets the best spaces apart.
Perhaps this is why thousands of startups are turning to coworking spaces regularly, giving their companies access to tools and resources that ultimately will fuel innovation and get their businesses onto the map. From helping attract and retain top talent, improving collaboration and productivity, and providing the much-sought-after flexibility to employees, coworking office spaces can fuel corporate growth through various channels. By operating out of a coworking space, a small startup can offer the same enriching workplace experience that larger, multinational companies enjoy, but without the hassles associated with the organization.
Coworking office spaces would serve as a much-needed respite from working from home, particularly for individuals living in smaller apartments with other household members, including children. If kids are out of the house and you have a lot of room at home, it is easy to devote part of the home to your coworking. Some coworking companies may accommodate entire small businesses or departments in dedicated areas, you just have to talk with the manager of the space to find out if it is available.
Their Cost-Cutting Power: Coworking spaces usually come with all of the necessary equipment for running a day-to-day business. However, since you are sharing the space, you can expect to pay much cheaper prices for the same features. Because Coworking spaces come fully equipped to handle your office needs, you can make sure that you are getting the most bang for your buck.
Whether you are a startup owner, a freelancer, a larger setup looking to scale your company, or even just someone looking for a place to work out of the confines of their home, you can find a coworking space that best suits your needs. Did you know coworking spaces help you to get in touch with the clients that you are looking for? That is right: since you will be working with all kinds of different professionals from all kinds of different industries, you can get amazing insights about various markets.
First, unlike a traditional office, coworking spaces are comprised of members working at a variety of different companies, businesses, and projects. First, coworking spaces offer an open office system instead of cubicles, fostering an unencumbered working environment and cross-departmental collaboration that leads to the flexibility when it comes to decisions. In a shared office-like environment, you can expect to see people from multiple different companies working closely together.
Because of the diverse ways individuals work together, or require space for completing short-term or long-term tasks, whether at one location or multiple locations, shared spaces provide a variety of income streams that could turn into profit sources for space owners. The stay allows more work to get done, which could be helpful to bolster the bottom line for a company – and their chances to take off. By offering flexible hours, coworking spaces also enable entrepreneurs to broaden the search pool of talented employees. Gretchen M. Spreitzer also says that, as the nature of work changes, with more employees working remotely or on the go, coworking spaces could provide flexibility — not just to employees, but also to businesses.
Initiatives such as Work-Near-Home systems are being implemented at an increasing number of offices, which enable permanent employees to work in coworking spaces within walking distance of their homes because Millennials and Generation Y strongly value flexible work arrangements and reduced commute times. From managing space, tracking contracts, and analytics-driven behaviours, companies are increasingly banking on technology trends that are here to stay. There is a consistent rise in the demand for flexible workplaces, with an increasing number of MNCs and businesses investing in coworking spaces because of a sudden surge in flexible work. With the potential for increased worker productivity and reduced costs, coworking could be the next big thing for Corporate America. Companies need better schemes for talent retention, and if a luxury coworking space location provides the benefits companies once offered in-house in those spaces, employees will also keep working for an organization in the city of their choice.
A business can save about 30% in operating costs by allowing employees to work from coworking spaces. One of the ways you can cut costs is through renting a coworking space, which helps you to connect, shares business operating costs, keeps you motivated, and offers flexibility if you wish to move, among others. It is financially feasible to own a shared working space instead of renting a whole floor or block of offices for your start-up.
Shared working spaces can give you the complete set of office necessities, like private conference rooms, a cafeteria, hot desks, and a kitchen, among others. Mindspace Coworking sites feature highly designed serviced offices, including cafeterias, kitchen facilities, private and open offices, fully equipped conference rooms in various sizes, event spaces, and other amenities.
Refurbishment services such as mentoring programs enable the coworking industry to grow beyond simply renting office space, to creating products and services that have the potential to increase value and generate significant profits. Companies willing to take the plunge on the coworking movement might choose to build out a space in-house, offering flexibility to tune it to their specific specifications.