Published 29 November 2017 Category: Entrepreneurs, SMEs, Co-working, Business, Startups, Serviced Office Spaces

What Big Corporations Are Learning From Co-working

Co-working, the practice of hiring a seat, room or desk for an hourly, weekly, or even annual fee, has grown rapidly in popularity over the last few years.

For many small independent businesses, there are a number of advantages to be gained, and many employees prefer the experience over the traditional office workspace.

The Benefits Of Co-working To Business
As a business owner, co-working makes a lot of financial sense, with no need to permanently rent or buy expensive real estate. This enables you to easily move when you are outgrowing your office space, and the business benefits from flexibility and innovative modern buildings.

Perhaps the biggest change in corporate thinking though, is a switch from micro-managing towards empowering your workforce. Companies are beginning to understand that as long as work is done, where these tasks are completed is largely irrelevant.

Rather than focusing on micromanagement, the key focus for most businesses who wish to go down this route is to ensure that their hiring and onboarding procedures are market leading. Provided you hire the correct people for your company, they can be left to get on with the job and complete the work, freeing up senior management to be much more productive and beneficial to the company.

The other real benefit of co-working is the increased exposure to other companies beyond their own, which may, in turn, assist in their development and growth. In a traditional office setup the IT consultants tend to be locked away in the depths of the building, viewed as a seperate entity from the marketing department. However, in a serviced office or co-working space, an IT expert could easily end up sitting beside and befriending a marketing staff member.

Should the marketer experience IT issues, they can quickly and easily ask for assistance. Likewise, a situation could evolve where the IT expert could suggest a better way of designing or developing a presentation due to their superior technical knowledge. These unforeseen benefits are changing the way companies work, in many positive ways, and once again highlight some of the numerous advantages that co-working presents.

Why Co-working Is Fantastic For Employees
When people are happy in their job, they are much more likely to be productive and produce better work. In fact, according to a report from Fast Company, happy employees are 12 percent more productive. Co-working spaces tend to be modern, welcoming, and more desirable to work in compared to outdated and cramped cubicles. Your employees will be keen to come to work, and will also enjoy and benefit from the many networking opportunities that co-working provides.

The modern workforce is changing, Millennials respond better to a different style of management, and the workplace also needs to change and develop. It may be time to embrace the idea and culture of co-working, and here at Compass Offices, the tailored workspace is our specialty. You can contact us at any time to discuss your ideas and concerns, and we can provide expert knowledge and advice to help you with this transition.