In the competitive and technologically advanced 21st century, large businesses today are witnessing a significant shift in the way they organize their workspaces. Instead of standalone offices and individual workspaces, many businesses are moving to coworking space rental, where employees from multiple companies can share the same workspace. This shift is gaining traction, and the question is why are large companies opting for such a coworking model?
What’s driving this trend and what benefits does it bring? Let’s dig deeper to understand the ongoing shift in how large businesses manage their workspaces.
Renting a co-working space – A new global trend in choosing a workspace
Coworking spaces have become very popular all over the world, creating a quiet revolution in the corporate world. People from all sectors, all levels of their careers, and all walks of life in the business and corporate world are trying it out and some have loved it so much that their entire office setup is often taken over by coworking spaces.
The flexible, office-free, modern, and cool environment wins everyone’s heart. While the idea of a coworking space often brings to mind startups and freelancers, the truth is that most of these spaces are becoming the top choice for larger companies, who are even looking to branch out to new cities or countries.
Yes! These are the companies that have welcomed coworking spaces with open arms and hearts.
Many large businesses turn to renting shared workspaces
There is a big trend of large corporations taking advantage of the benefits that coworking spaces offer. While these corporate giants may very well have their own corporate office buildings, they are very interested in coworking spaces, as the numbers show.
Companies like IBM, Microsoft, and Verizon are experimenting with coworking spaces for their employees so they can be up close and personal with innovative startups. Now let’s look at some of the reasons we’re seeing a surge in the number of corporate giants opting for coworking spaces:
Easy access to innovators and innovation
As we've touched on before, some of the big tech companies that opt for coworking spaces do so to get closer to where the innovation is happening.
Coworking spaces tend to have a social and collaborative element, while also offering a more relaxed atmosphere than traditional offices. This gives large corporations access to startups with industry-changing ideas, as well as new talent and partnerships.
Improve productivity
Workspaces and cabins create physical and mental distance between employees, which can affect their motivation to work and give their best.
When managers, bosses, and interns sit at the same table and work side by side, overall employee productivity increases and work is done more harmoniously.
When the boss and the intern work at the same desk, the newcomer's formality and hesitation can be easily conveyed, and it also helps things get done in a more friendly manner without being pressurized, which keeps the employee motivated and keeps them from lying in bed the next day.
Cost effective
One of the biggest reasons why coworking spaces are booming and becoming a favorite trend for businesses, whether you are a startup, a freelancer, a creative, or a large enterprise expanding, is because it is cost-effective. Regardless of the size of your business and the size of your staff, opting for a coworking space can definitely save you a lot of money.
Instead of having to buy an office space, pay for paperwork, pay property taxes, then buy furniture, pay utilities, buy equipment, etc., before you can actually start working, you can simply choose to pay a monthly fee and not only save a lot of money, but you can also start right away.
A community of like-minded individuals
According to Deloitte’s 2019 Global Millennial Survey, 47% millennials want to make a positive impact on their communities. Nearly 15% are dissatisfied with their work culture, and 49% millennials would quit their jobs if they could and chose to in the next two years. So there’s no denying that the demands of the millennial workforce have changed significantly compared to previous generations.
This is a generation that believes in working for a cause and believes that they can bring about change in the communities they come from and enrich lives for the better.
Keep this in mind and understand that Millennials are a very open-minded generation and Gen Z will amplify this; employees need to focus on knowledge-based learning and workshops, emphasize inclusion and diversity in the workplace, and focus on enriching the lives of employees and the surrounding community.
Coworking spaces cater to this informality in building connections and communication within teams, while encouraging team members to work in a cohesive and results-oriented way, while working towards a purpose and for the greater good of the community.
Community thinking is an important part of all types of businesses – whether it is a startup, SME or large enterprise, community thinking is ingrained in human DNA. This community thinks and works for the common good and is better emphasized and encouraged in coworking spaces.
The balance between privacy and connectivity
Coworking spaces strike the perfect balance between privacy and networking. This is because you have plenty of personal space to work and hold board meetings and grow your company, but it also gives you the opportunity to meet new people and get new projects. Collaborate and work together on different creative projects.
So you have your personal space, and at the same time get to meet and get to know new people, new companies, and do new things.
Meaningful Partnerships
Businesses thrive on strong and meaningful collaboration. Coworking spaces not only provide a workspace but also the opportunity to meet new people and organize and participate in events that serve the common good and, in turn, the prosperity of the nation.
Many coworking spaces have partnerships with service providers that help streamline business operations, support productivity and employee programs, and receive direct customer feedback, then continuously optimize and improve.
These linkages help streamline many components of the manufacturing process and make the process easy to navigate. These linkages help with human resources services, employee travel and accommodation, legal assistance, etc.
Inspiration and creativity
Having to deal with numbers is one thing and being creative is another. To be creative, you will often feel the need for inspiration because creativity is unpredictable and also very expressive. So being surrounded by creative people makes motivation and inspiration easier and more accessible.
The non-office feel as well as the aura of coworking spaces are some of the things that attract people to coworking spaces.
If you are looking to know more about coworking space rental service, please contact G Office via hotline: 028 222 00 919
