Advantages of coworking space: Achieve higher employee retention rate
So how do you reduce your staff turnover, and in turn, minimise hiring costs? Since its introduction to society in 2005, coworking spaces have become a flexible and affordable alternative to traditional offices. But not only that. Studies have found that employees based in shared office spaces are happier, more productive and there for the long term. We’ll explain the advantages of coworking space that help in retaining employees.
Flexibility
Flexibility is one of the main advantages of coworking space. In today’s world, people don’t like to follow a rigid nine-to-five schedule. The preference is to work with a greater degree of flexibility and freedom. With most coworking spaces open around the clock, workers can choose when to get work done according to their timelines (within reason), opting to break up their day with chores or work longer hours on big projects that require extra output.
Having full-time access allows employees to feel more like autonomous workers with greater control over what they do rather than cogs in a machine, ultimately leading to job satisfaction.
At the same time, coworking spaces provide a level of structure, which some people need to focus on. For businesses, this spells for better work performances and increased productivity collectively.
Increased learning opportunities and development
Advantages of coworking space also include increased learning and development opportunities. In a traditional workplace, invaluable employees might resign because they’ve hit their ceiling and feel that opportunities for learning more in their current job are slim, which makes sense. Being surrounded by the same team, day-in-and-day-out doesn’t provide much room for growth in one’s respective career.
However, working from coworking spaces is exciting because employees can interact with professionals from vastly different fields. Having different desk companions every day of the week allows for stimulating conversations, learning fresh perspectives and arriving at a new solution that an employee might not reach working on their own.
Frequently, coworking spaces host workshops, which can be hugely advantageous for businesses wanting to invest in their teams by upskilling them. These business supporting programs are also invaluable at a personal level for team members wishing to advance their careers.
In summary, employees have diverse learning opportunities at their fingertips, where a “teach and learn” approach to working prevails.
Frequently, coworking spaces host workshops, which can be hugely advantageous for businesses wanting to invest in their teams by upskilling them.
Improved productivity
Improved productivity is also one of the advantages of coworking space. Working remotely can sometimes hamper productivity because there are plenty of temptations, plus being isolated can be extremely mentally taxing and discouraging.
Being surrounded by like-minded people all day is a huge motivator. Not only does it keep your teams’ productivity on track but prompts creative and innovative thinking.
Social cohesion
Social cohesion is also included in the advantages of coworking space. All humans need some social contact. Therefore, being at home all day is boring, repetitive, uninspiring and lonely. Additionally, expecting staff to have major breakthroughs when they’re alone all day isn’t all that realistic. Furthermore, not having colleagues around can have negative consequences for mental health.
At the other end of the spectrum, working in a traditional office space where colleagues don’t click or are unhealthily competitive is depressing and may lead to the development of toxic workplace culture or top performers quitting for greener pastures.
The middle ground is coworking spaces, which puts professionals in contact with people outside of their fields. This is useful for learning new skills and strengthening existing talents. It also provides a platform to forge genuine workplace friendships that enhance the quality of office life where people aren’t in direct competition with each other but offering support, guidance and pointers.
Networking and collaboration
Opportunity to network with different people is also one of the major advantages of coworking space. For a business to survive, you need to hire or utilise the right professionals when grappling with unanticipated obstacles.
Coworking spaces connect you to a broad spectrum of specialised workers to hire or ask for help when you hit a stumbling block.
For example, knowing that you have IT specialists a few metres away could turn significant bug issues that would typically cost you time and money to fix using outside help into a problem solved free-of-charge quickly.
In addition to this, coworking spaces quicken the process of finding the right employees for jobs without undergoing expensive and lengthy recruitment procedures and puts you into contact with freelancers who can help you on short term projects.
An aesthetically pleasing space
Operational advantages of coworking space aside, aesthetically pleasing designs are a source of attraction. Considering they spend a considerable chunk of their lives working, where employees' work is as equally important as what they do. In other words, modern-day professionals want to be proud of where they work.
A dull, drab and depressing workspace might not cast the most favourable impression in the eyes of potential employees, even if the work does interest them.
Coworking spaces are often presented as bright, spacious and easy on the eyes because of their carefully thought out designs. In offices like these, your current workers will feel motivated and inspired by their surroundings.
Access to in-built amenities
There’s nothing more frustrating than not being able to perform one’s job properly because of extraneous factors. For example, faulty equipment or weak internet connections.
Coworking spaces provide high quality amenities and infrastructure that aids employees in working better and faster, which in turn, adds to job satisfaction. These office basics allow employees to perform at top capacity without being let down by second-rate technology.
Some coworking spaces go the extra mile by offering benefits for employees aimed at improving their wellbeing, including onsite facilities like gyms, relaxation zones and onsite cafes. With these facilities on hand, stressed or exhausted workers on the verge of burnout have access to recreational outlets.
Some coworking spaces go the extra mile by offering benefits for employees aimed at improving their wellbeing, including onsite facilities like gyms, relaxation zones and onsite cafes.
Conclusion
Coworking is bridging a gap in hiring and retaining staff. Why? Because shared office space promotes an ideal working environment where employees can achieve greater productivity, meet new people, never stop learning and feel looked after.
On the flip side, hiring recruits from a coworking space takes the stress and hassle of locating the right talent.
You may get help from Office Hub in locating a variety of offices in the UK that are appropriate for hybrid working. We can help you discover the best option, whether you need a private office, a shared workspace, or a virtual space. Our private office spaces are spread throughout several locations in the UK, including, to mention a few, London, Manchester, and Edinburgh. For additional details and to locate the ideal kind of office space for your needs, visit our Office Hub site.
