It’s Time for Corporations to Make the Jump to Coworking
Dallas Coworking Blog by Venture X – Small businesses are taking coworking by storm compared to large corporations. Although corporations may be more reluctant to start using a coworking space for their employees, there’s a laundry list of reasons why large corporations would benefit from a shared office environment.
Let’s take a look at why these companies need to consider using a coworking business space to run their operations.
1. Reduces Overhead Costs
Renting a traditional office brings various expenses for corporations. They have to sign a lease and pay a deposit to rent the office space. It will take time for them to set up the office because they will need to furnish the place with furniture and equipment.
The expenses do not end there. They will have to pay for repairs, utility bills, and other expenses which add to their overhead costs each month. Portions of the profits you generate will have to be put towards paying for these types of things. One of the most significant reasons to switch from a traditional office space to coworking is avoiding the difficulty and costly process of getting out of a commercial lease.
Coworking spaces are less costly because there is no long-term lease and or need to pay in advance. You can adjust the office space to suit your needs as your corporation grows. You also only pay for the utilities and amenities you use and don’t waste padded costs for landscaping, maintenance, and other small jobs that arise.
2. Fosters Professional Relationships
Corporations can outsource certain talent by networking other professionals they are sharing the office space with such as graphic designers, content writers, photographers, bookkeeping, accountants, and more. Before, they would have had to search for a professional to outsource a certain job or establish an in-house team, which would be an added cost.
If a business is operating from a coworking space, its employees can network within the shared environment and connect with people who do freelance work. This saves the company and employee time and allows them to put that effort back into increased productivity. It does not necessarily have to be a freelancer, corporations can also visit other businesses that are sharing the space and discuss the job with these businesses as well.
By recruiting people working in the same coworking space as the corporation, staying connected with them and monitoring the progress of the job is more convenient. Having the ability to connect with other businesses on a regular basis is also a cost-effective marketing technique and a great way to earn new clients.
3. Access Amenities
Most coworking companies offer several amenities to corporations. Some of the amenities that corporations will find at a coworking space include a conference room, coffee and snack bar, audio-vision equipment, printers, telephones, and more. If corporations went with a traditional office space, they will have to pay more for one with added amenities needed for them to conduct their business. Employees can take a break throughout the day to visit one of the many amenities they have.
4. Increases Productivity
Instead of dividing people into departments spread throughout the entire office in different rooms, corporations will have their entire team in one big office depending on the number of employees they have. By being able to interact with each other, employees will work better and faster, thus increasing productivity.
The Harvard Business Review stated that people who use coworking spaces to work reported being more productive because they felt more in control of the task, saw their work as more meaningful, and felt like they were an integral part of the community.
Another Harvard Study stated that employees preferred the physical proximity they had with others because that played play a role in making their collaborations more effective. This means that bringing teams together in one place can increase levels of productivity, doubling it.
How Should Corporations Select a Coworking Space?
Corporations convinced to choose a coworking space need to learn how to choose one. They can base their decision to choose a coworking space by considering the budget and location. Other things to look for in a coworking space includes security, whether there are any policies in place to protect their personal belongings, and whether their Wi-Fi is protected.
Before selecting a coworking company, corporations also need to look up more than one coworking space and then read the reviews and browse their website until they find one that they can work in. Also, visit the coworking company at different hours during the day and evening at various days.
It is crucial for corporations to select a coworking space with a culture and environment matches theirs. Corporations need to research and ask several questions before they choose a coworking space their new work home. From there, corporations can grow into becoming something even bigger than they already are.