Leading the way in 2016, Microsoft decided to give 30 percent of their employees (their sales departments) in New York City access to WeWork coworking locations. More recently Xero, one of New Zealand’s largest tech companies, is even building a coworking space into their newest office space in Auckland. Their plan is to grow cloud-based business platform innovation. Xero employees will have the opportunity to work amongst and connect with banks, government, accountants, large enterprises, app partners and small business.
Here are a few reasons why larger businesses are taking the leap into coworking.
Surrounded by more innovative businesses
Established businesses don’t want to lose that innovative magic that they had when they were starting out. A large demographic of coworkers are freelancers and startups/early-stage businesses that are constantly iterating and experimenting in a way that most larger businesses can’t anymore.
Coworking spaces offer an environment where there is a constant buzz of new ideas and where collaboration is a given. Larger enterprises have started moving innovation teams into coworking spaces to work alongside and learn from businesses and startups that are constantly trying new approaches. This helps established businesses retain a growth mindset.
Increased job satisfaction and retention for staff
Coworking is shown to increase job satisfaction and retention amongst staff. Physical work environment has a significant impact on staff happiness and an organisation’s overall performance. Coworking spaces are more dynamic, colourful and open then most offices, which people respond positively to. This positive response manifests itself into increased job satisfaction and productivity.
The nature of work is shifting — the typical nine to five is less and less appealing to staff. The most common perk for staff is flexibility to work in a dynamic exciting environment alongside like-minded people. Staff also have more flexibility and control over their work environment. Coworking spaces quiet spaces for focus and collaborative spaces when teamwork is needed. Employees can choose the space that fits their tasks at the time.
Every day in a coworking space is different, with different people around at all times. Staff can constantly connect with new people and ideas.
Lets you focus on core business
Coworking is convenient. Shared offices spaces take care of power, internet and all the other operational tasks that keep things running behind the scenes. This allows managers to focus on what’s important — their teams and their projects.
Flexibility (Pricing & scaling your team)
Coworking spaces cater to a variety business needs in terms of desk space, privacy and pricing. For example:
If you are flying solo, representing your company in the industry— you can work in open workspaces where you will meet more people and grow your professional and personal network. If you need some time away from your main office to focus — you can work in private settings that give you all the perks of coworking but allow you to have your own privacy.If you want to try coworking with a small team and build from there — coworking spaces have pricing scales reflect your team size and allow you to grow in a flexible way.
New opportunities for leads and future employees
Finding quality leads & employees is one of the biggest fringe benefits of coworking. You’ll be surrounded by small businesses and freelancers that need to outsource certain business functions because they lack the human resources to do it in-house. Those functions might be services your business offers — you could meet your next client over a cup of coffee in the shared kitchen.
Coworking spaces also attract the best and brightest in their industries. These are entrepreneurial people that you want working for your business. If you can show them that they can take the next step in their career by working for you, without giving up their flexible working environment — you’ll be attracting new talent in no time.
As you can see there are a lot benefits for established companies to incorporate coworking into the way you do business. If you want to give coworking a try — sign up to do a trial at Credenza, a Wellington based shared office space for established and growing businesses looking for a professional environment.