Coworking: What Your Company Is Missing By Sitting Out

Coworking is not a new concept. Companies of all sizes should start embracing the idea of coworking spaces as most employees now prefer coworking and flexible workspace options over more conventional options. Similarly, startups and entrepreneurs are already gravitating to coworking spaces.

If your company is still mulling over the idea of coworking spaces in Dallas, here are just a few reasons why you should go ahead and make the leap.

The Popularity of Coworking Spaces

According to a 2019 Global Coworking Growth Study, an estimated 2,188 businesses from around the globe introduced new coworking spaces in 2018. In the United States alone, 1,000 coworking spaces opened up with more openings and expansions expected. In Dallas, premium coworking companies are even expanding their existing building to keep up with the growing needs of businesses. 

Keeping this in mind, a market research survey suggests a typical coworking space will now have around 120 desks and can accommodate 160 employees in a 16,000 square foot space. A large percentage of employees stated that coworking spaces positively affected their work and productivity. 

6 Reasons Companies Should Not Sit Out Any Longer

With more and more companies opting for coworking spaces, your company can no longer afford to sit out. If you need more reasons to make the move to a coworking space, just look at the advantages of such an environment. A few of these coworking benefits including access to a reception service, administrative duties, cleaning service, phone answering service, high-speed wifi, and more. Who is a coworking space designed for? A coworking space is suitable for companies trying to keep their costs low, which is why most startup businesses prefer it over a traditional office setup. Here is a list of reasons why your company should adopt a coworking space:

1.   Reduced Costs

You will not have to invest in expensive office equipment and furniture, as a coworking space comes with everything you need to operate your business smoothly. Many coworking spaces have dedicated work stations, power outlets, pedestal, and USB charging stations.

The only thing you or your staff will need to bring is a computer or laptop. Depending on the number of employees you have, you can either rent the entire coworking space or you can share it with other companies, freelancers, and like-minded professionals. 

Other areas you can reduce costs include staffing expenses, printing services, utility costs and more.

2.   More Flexibility

Typically, a company or business just starting out will likely only have a few employees working for them. Renting an oversized office space and committing to a long-term lease when you are trying to grow your business can be financially draining. By using coworking spaces, companies have the flexibility to grow as they need. As they expand and hire more employees, they can rent out a small office.

3.  More Convenience

Coworking spaces allow companies to manage their limited resources in an efficient manner. They do not need to manage the day-to-day tasks involved with renting out an office space and can give their undivided attention to managing their business. Coworking spaces are also ideal for large businesses that have employees that work remotely. 

4.   Networking Opportunities

In most cases, companies will be sharing office space with other professionals. This opportunity will encourage collaboration with like-minded professionals. When you work in a coworking space, you are joining a community.

Small to medium-sized businesses can network and collaborate with other professionals. Most coworking spaces also host networking events, where you can meet with other professionals in the area. Some coworking spaces also offer workshops and mentorship programs where they invite industry leaders to speak with the professionals working there.

Companies should encourage their employees to attend these types of events because learning from industry leaders can help them grow their own career, and they can use the skills learned to further their company’s goals.

5.   Access to Freelancing Talent

Startups strapped for resources can find freelancers and consultants at coworking spaces. They will not have to look for professionals to outsource work to but can instead speak with the people who share their workspace. 

6.   Promotes Work-life Balance

Most coworking spaces host social events and health and wellness activities each week for companies. Companies can encourage their employees to take time off from work to partake in events and activities that will help them de-stress and recharge to continue their work.

You may also find a room dedicated to prayer and meditation, such as yoga. Businesses can look for coworking spaces that offer access to these benefits.

Gradually, coworking spaces will become more mainstream with both small and large companies shifting their employees to a shared working environment. Freelancers and startups are already taking advantage of coworking spaces, but more acceptance of the idea of working in a shared environment is still developing. Make sure your company isn’t left behind and join the movement today. 

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