Shared workspaces have become more popular in recent years. While these were once the work places of freelancers, entrepreneurs and startups, these days you’ll find a wide variety of professionals in shared workspaces including major enterprises.
The main draw of a shared workspace is the community and collaboration that comes with likeminded professionals working together.
Are you considering the move to a shared workspace, but aren’t quite convinced it’s the right move for your business? Then read on for some of the benefits of working in a shared office space.
Many businesses find they can save a lot of money when renting a shared workspace. There are several reasons for this.
With a traditional office come with a long-term lease, with businesses responsible for everything including rent, utilities, office furniture & equipment, and more. Plus, factor in the maintenance and daily cleaning, and a traditional office quickly becomes a huge drain on any company’s budget.
On the other hand, shared workspaces are different in that they usually have flexible leases (can be short- or long-term) that are all-inclusive. This means that everything is covered by the monthly payment, which includes rent, utilities, maintenance, cleaning, parking, and more. Plus, many shared workspaces offer a wide range of amenities that add value to the monthly fee. These can include breakout rooms, café or coffee/tea bars, on-site gyms, and more.
The company renting space not only saves money, but they also pay only for what they need. For instance, shared workspaces can even be rented on a pay-as-you-go basis. This means you can rent additional desks when you have guests or remote workers.
This leads to another huge benefit shared workspaces offer, which is scalability. If your business is growing, you’ll find the shared workspace has room for you to expand. Or if the business needs to scale down, that’s also possible.
Fast Move-in & Setup
With a traditional office, moving in or out is a huge event. We say event because there’s so much involved. Either way it’s necessary to deal with utilities, moving vehicles, how and when to move, and so much more. Oh, and don’t forget when you move out, most traditional office leases say you’re responsible for repairs and cleaning.
On the other hand, with a shared workspace, everything’s included in the monthly payment. And not only that, but all the furniture is setup and waiting, WiFi is running, and all office equipment is setup and ready to use. Plus, the electricity and all other utilities are in place. You don’t have to do anything—just show up, plug in, and get to work!
What could be easier than not having to deal with a major move to a new workplace? There’s no need to invest in or move furniture and equipment. You won’t have to deal with setting up new utility services, and more. It’s all done! You just have to show up and get to work. That’s it! What could be better?
Prime Business Address
Another important benefit to your business is having a professional address. When you work at a shared workspace, you’ll have a prime address. Many office centres are located in the heart of major city business districts. So, you have a professional address and office space for your company.
Not only that, but your business also will be near some super amenities such as restaurants, cafes, shops, transportation, and more. What’s more, the building you’re working from will be beautiful, with an amazing interior. The work environment is usually decorated to be lively, colourful, and vibrant. Just the place to take in some of that innovative spirit.
Working at a prime location also makes it easier to attract and retain top talent.
Attracting & Retaining Top Talent
Employee turnover is a huge problem for many businesses. Employees are always looking for a better place to work. Many businesses today are finding that the rental of shared workspaces is a great way to attract and retain top talent. The reason is these workspaces are extremely pleasant, vibrant, and lively. Plus, they offer a flexible way for employees to work.
Many office centres these days are open 24/7. This makes it easier for employees to work when it’s best for them. Or the business can offer flex shifts, with some people working during the day, and others in the evening. Not only does this limit the number of people in the office at one time, it also increases productivity and employee satisfaction.
If you have remote workers and freelancers, then a shared workspace can be perfect for those times they need to come to the office.
We mentioned early that the environment of the shared office space is lively and energising. This is because a wide variety of professionals and businesses work together in one place. In addition, many shared office centres offer networking and socialising opportunities as part of the monthly fee. They provide the food and people show up to connect. What’s not to like about that?
Along with the fun networking events, shared workspaces seem to bring out the creativity and collaboration in everyone. Each person is free to mingle with others from different companies, sharing talents and skills to solve problems, and more. This is a wonderful way to help your employees become more innovative.
This is also great for remote employees, because working from home can be lonely. Some people find it difficult to share ideas and find solutions when working with colleagues from home. They can have support and collaborate with others when they’d like. This helps to improve creativity, find innovative solutions, and more.
In the end, you’ll have employees who work in an environment that takes care of their wellbeing. This makes them not only happier, but more effective at finding solutions, new ideas, and more.
As you can see, there are a number of benefits you can enjoy that are unique to a shared office space. You won’t find these advantages in a traditional office.