There is a growing trend of large corporations using coworking spaces. Some technological giants, such as IBM, Microsoft, and Verizon, are testing the use of coworking spaces for employees so they can be close to and easily interact with innovative startups.
Coworking creates a collaborative workspace, a new concept which is growing like wildfire because of how well it works for solopreneurs, start-ups, small businesses as well as remote workers.
The following are 4 reasons why I believe employers can benefit from sponsored coworking.
1. REAL ESTATE EXPENSES
It's a fact. Coworking reduces businesses expenses when it comes to a variety of different operating costs with the biggest being real estate. As your company is growing and evolving this is important, requiring more or less employees to maintain. Colliers International estimates that coworking decreases business expenses by approximately 16%. Businesses can save on leasing, rates, insurance, utilities, furniture, office supplies and technology as well. Companies can just pay a monthly fee to the coworking company and notice savings immediately. A seasonal business can expand temporarily during their busy season without having to fork out on an expensive (and long-term) lease. Businesses who use coworking spaces can also better accommodate employees that travel a lot or if they need to work on a project off-site.
A happy employee is a productive employee. Coworking spaces have proved to increase happiness in employees and reduce stress. Coworking employees find they are more creative due to collaboration with alot of different networks. Deadlines are better met thus productivity is higher. For remote workers who work from home, isolation is negated as focus and drive is increased due to human interaction. Coworking is conducive to knowledge sharing and allows companies and their employees to tap into ideas they would not normally have exposure to.
3. PERSONAL AND CAREER GROWTH
For those employees working from home loneliness and focus can be a big issue. Employer sponsored coworking can alieviate this as these spaces provide human interaction thus increased learning and growth potential through such interactions. With a diverse group of other coworkers, they are able to brainstorm and ask advice. People learn better from other people thus better able to grow their network. A larger network is great for both the business and employee. Research has shown that over 70% of empoyees feel they are better heard working in a coworking setting rather than a traditional office setting.
4.TALENT ATTRACTION AND RETENTION
According to Annual Global CEO Survey done in 2015, 73% of CEO's reported availability of skills as a serious concern. Companies need to provide a wider range of work settings tailored to the new way of working. Companies who sponsor coworking are answering the new reality of employees expectations and technology enabled ways of working. Coworking can provide employees with the mobility and flexibility they are seeking. Coworking provides an alternative work setting, which appeals to the Millennial generation, supporting recruitment and retention.
There are many more reasons why a business/employer should consider sponsored coworking as an option for remote workers. Coworking is the future of the business world.
Feel free to contact us here at CoWork Mallow to see how we can benefit your employees in our coworking space. We have plenty options available with no contract.