While millennials typically embrace a more free and unstructured work environment, they’re not the only ones opting for coworking lately. Moreover, companies are increasingly giving in to this popular, new approach, which allows for productivity and professionalism in a more diverse environment.
Below are some of the main benefits of coworking that allow businesses to thrive.
No geographical limit to recruiting
Historically, companies have hired individuals who were willing to relocate and work at its headquarters. While this worked for many companies, it also limited their recruiting efforts and may have even caused them to lose out on great talent. With coworking, this is no longer an issue.
Coworking allows organizations to recruit talent from anywhere and their employees to manage their responsibilities from a coworking space. Consequently, these skilled employees can be offered employment by a company they want to work for, and they can do so without having to work in a socially isolated environment, while still benefiting from a professional working space.
While a typical professional, structured office environment is ideal for some, it does little to spark creativity for others. Conversely, coworking spaces allow for a more relaxed environment with the opportunity to interact with new people, from the same company or different organizations.
Expansion is easier
Coworking is also a great way for organizations to begin expanding into new territories. Essentially, it allows them to set up a temporary headquarters, with the coworking company taking care of all expansion matters from the new location. Furthermore, it’s much easier to expand because the size of the coworking location is monitored on-site and depends on the number of team members who join the company. While the number of people who are employed at a coworking space is limited, the general idea of coworking is not to have a large location (which would simply be another headquarters).
The flexibility of the coworking model allows a company to adjust the size of its commercial lease based on the number of employees in a specific location. While it’s true that the coworking cost per square foot is often more expensive than renting actual office space, there are more factors to take into consideration with the traditional alternative—which, in the long run, can amount to a larger investment.
What’s more, there isn’t always a need for a traditional office for employees to be productive and the company to thrive. In fact, coworking can provide all they need to be successful and effective at what they do, thus benefitting the company overall.
Coworking is a smart investment for companies, and jobseekers should determine if there is a similar option before deciding to relocate for a job. For example, looking at Brooklyn apartments for rent can consume much more time and money than finding out that you don’t even have to move at all.