When you first hear the world co-working, the thing that comes to mind is a group of freelancers sharing office space on second hand furniture.
Modern co-working has seen great improvements with amenities such as a fitness center, coffee and tea places, bars and cafes and high-tech security.
Freelancers and remote workers now come together to share working space that is also comfortable. Some of the best services can be found here, something that has caught the attention of large companies and enterprises.
This is why.
1. It is now possible to recruit form anywhere in the world
Companies may not be in a position to have all their personnel working at their headquarters. Coworking provides an alternative where the organization can still find the best services from anywhere in the world and hire.
As opposed to a freelancer working from home, co-working provides a similar social setting to that found in the office which has been showed to improve motivation.
Regular interaction with peers and like-minded individuals is fun and enhances the quality of their work life. There are also amenities similar to those found in at home.
2. There’s better creativity
Research has shown that co-working can boost creativity. Stepping away from a bureaucratic setting to a freer and more relaxed atmosphere breathes new ideas and life into the work.
And by interacting with others with different skills sets, co-workers learn how to do things better and more efficiently. Updated companies are aware of this and its one of the reasons they seek the services from a co-working environment.
3. Companies can expand with minimal hassle
Think of a company that seeks to venture into a new market place. How simple would it to start of with co-working facilities and employees? The answer…very simple.
There’s a lot saved as opposed to renting office space and conducting the recruitment process.
In fact, moving to a new geographical area often begins with a few individuals who then grow to 5, 7, 10 and so on. Co-working takes advantage of available space until the number of employees grow to where getting office space is inevitable.
Often a team of co-workers will include 2 to 20 people.
4. Its cost effective
Okay granted, co-working is more expensive in terms of office space compared to more traditional settings. However, it is cost effective as many an organization has found out.
Normally a commercial lease is between 3 and 5 years. This can prove beneficial for organizations that are not sure how long they will need the space. Often companies rent more space that they initially require which is inefficient.
Co-working is flexible. Most co-working organizations have memberships between 30 days and a year. Companies get the chance to easily scale down or up as need be.
And remember what we said about coworkers being comfortable in their work environment? They are more productive and can be retained for longer which saves the company the expense of recruiting more workers.