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5 Reasons a Coworking Space Makes Sense for Corporations

More than a decade ago, co-working began to open all over the world. But recently, even huge companies have begun to enter this field. For the past few years, tech companies have been looking at the benefits of housing their employees in these open office spaces. This is because these corporations will have access to innovation, innovators, new talent, and low prices for employee housing. As a result, representatives of technology giants like Verizon, IBM, and Microsoft can now be found in coworking spaces. But why are huge companies interested in coworking?

The idea of a coworking space

The main point of aspiration for those who choose open offices is to create a functional collaborative space to work in. This is what coworking is all about. An employee can count on direct communication with colleagues, sharing experiences and professional knowledge. But this is not a complete list of benefits that distinguish this concept. Below are 5 main reasons why large companies prefer coworking.

1. The economic factor

According to the study, the cost of annual office rent in business centers around the world is much higher than the cost of workspace in similar class coworking spaces in the same cities. On average, the savings amount to 50%. This is true for London, New York, and other key cities of the world.

2. Speed, convenience, and flexibility of rental

You will quickly find a workspace in coworking for one or more employees. The choice of coworking spaces in large cities is quite large, so you will surely be able to find the most convenient location. Sometimes you have to look for a suitable office for months. You can “try” a coworking, and if there is something wrong with it, move to another. In the case of an office, you can do this too, but only after spending a lot of time and money.

The minimum term of the lease of the office is usually long. In this case, complex documentation of relations with the landlord, payment of a deposit, and insurance is required. You can use the co-working space for a few hours, a day, a week, a month, a year – as long as you want. To become a resident of a coworking, it is enough to call or fill out an application on its website. If you hire another employee, this does not become a problem in the coworking room. Rent additional workplaces or enclosed space for the team. In the case of an office, expanding your staff requires remodeling or renting additional space. If you lay off employees, you simply stop paying for unneeded coworking space. If you have an office, downsizing does not affect the rent.

3. Flexible working hours

Another factor in the democratic approach is the approval of an autonomous work schedule. Employees are given the freedom to plan the time they dedicate directly to their work activities. Of course, certain hours of work are set by default.

Those who work remotely do not need a traditional office. But from time to time they need to work outside the walls of their own home. A change of scenery certainly has a positive effect on productivity, so now more and more freelancers are renting a coworking space. In addition, it gives you more flexibility in your work schedule, as it is usually open longer than a traditional office. Thus, cheap writing services may consider accommodating their employees in a flexible office space. Because for professional writers, the place where they write quality papers doesn’t matter.

  1. Communication and collaboration

Employees being in the coworking space do not feel lonely when performing their tasks. One could say that their responsibilities are common, shared by all. If necessary, an employee can always ask for help, for advice or even to share certain functions, if there is a need to do so. No formalities need to be overcome for this in an open space of interaction. This is how a team works, whose goal is to cooperate on a common project.

As a rule, people from different fields work in the same coworking space. In addition to the workspace, they share a common kitchen and seating area. As a result, designers, lawyers, programmers, and many other professions spend a lot of time in the same room. This promotes a flow of interaction with new areas of expertise, as well as an exchange of experience. In a typical office, different professionals rarely overlap.

5. Workspace Culture

Coworking brings unique cultural nuances to the corporate environment. They are less about technical issues and regulations and more about creating an atmosphere of open interaction between people. Removing unnecessary barriers eliminates many problems faced by employees in regular offices. So, we can talk about relieving psychological tension, minimizing conflict situations, and forming friendly relationships.

The mentioned trust factor is crucial. The manager does not perform the role of a strict boss who holds everything in his hands and regulates the life of the office from above. This is no longer necessary, as the employee receives a significant amount of responsibility and authority. And again, the unit of labor activity is not one particular employee, but the team as a whole.

When does coworking justify itself?

Obviously, a coworking space cannot be used by a bank, a factory, or a service industry. Rather, it would suit a business in which managers and staff work on the principle of “where I am, there is an office.”. If a table, chair, computer, and Internet are enough for their professional activity, the coworking will suit them 99% of the time. Flexible office space will be a great workplace for copywriters, freelancers, authors. Agree, those who are thinking about how to achieve academic success do not care where their assignment will be written. The main thing is to get the work done in a quality and timely manner. Therefore, freelancers who provide do my essays service often choose to work in coworking space.

Conclusion

The emergence of coworking spaces is a natural reaction of the real estate market, which is adjusting to new business needs and demands. In addition to saving money, businesses and independent professionals want a better quality of life and comfort to perform their duties well. Coworking spaces meet all these needs. This explains their demand and popularity on the commercial real estate market.

Ajay Deep

Ajay Deep is the brain behind Coworking Mag. He founded this website to help startups and aspiring entrepreneurs find a coworking space in their city. He is a successful entrepreneur who started and scaled a bunch of startups – all from shared office spaces. He has visited hundreds of coworking spaces in different countries and is now an investor in this evergrowing idea of developing new coworking spaces. You may reach Ajay Deep at hello@coworkingmag.com
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