Co-working spaces were once the preserve of freelancers and creative types. Now medium to large sized businesses are getting in on the act too.
The modern workplace is evolving. First we had flexible working. Then we had remote working. Now we are seeing an increased demand for co-working spaces – workspaces which are shared by people who don’t all work for the same firm.
So why have co-working spaces become so popular? Technology has allowed people to become agile workers – who can now work from anywhere and at any time. These employees are no longer tied to a specific office. However, working remotely can lead to employees feeling isolated. Co-working spaces allow remote workers to engage in a community, without having to commute long distances into city centre offices. This has led to huge growth in co-working businesses such as WeWork, LABS, CoWorker and many others.
The cost of using a co-working space is often cheaper than commuting into a major city every day. Outside of the cities, it is possible to subscribe to a co-working space costing anything from £100 up to £1,000 per month (depending on the facilities that you require). Most co-working spaces offer anything from hot desks, all the way up to dedicated desks, private offices, meeting rooms, etc. Many co-working spaces also offer regular social events for members, such as after work drinks, etc.
If your business is prepared to embrace agile working, you can benefit from happier staff who can work from a co-working environment which has fast Wifi and all of the business amenities they need to have. In return, your employees can cut down on commuting and enjoy a better quality of life, on their own terms.
We all know that happier employees tend to stick around, so co-working spaces could provide an opportunity for you to retain good people. In addition, you can reduce costs – if more of your people are working remotely, you need less office space. Depending on the type of business that you run, and where your people are based versus the office, co-working spaces can offer an attractive and cost-effective option.
We all face changes in our business, how we react will be a big factor in our future success. Risk factors impacting on our business will be a topic at our next Accelerator Club. Why not come along and see how other business are reacting to the problems we all face from time to time.