Top 5 Reasons Why Employees Thrive in Coworking Spaces
“We are seeing an acceleration of the trend to democratize workplaces… During the last few months, digital technology has flattened hierarchies, with everyone connected and getting information simultaneously, and so many channels for employee input and involvement in decision-making in real time.” said Diane Gherson, CHRO at IBM, in a tweet.
Coworking spaces have some out-of-box qualities that let workers from every business niche settle in a professional, highly equipped, and collaborative environment. Given their adoption rate, shared spaces are projected to top $19.05 billion by the end of 2023. For employers seeking to expand their operations, shifting their teams to combined office spaces will maximize productivity at bearable costs.
Read along for insights into how businesses have revamped their progress and what opportunities have coworking steads in reserves for employees.
The Rise of Coworking Stipend and Its Influence
Shared office spaces are personalized workstations that help employees fight the remote home loneliness. Being a hybrid setting, they cater to individuals that seek to have a structured workday but are more flexible than working in a corporate physical headquarters.
Coffee shops, shopping malls, or airports may sound like a good working option, but shared offices are way better. Tea houses, chit-chat tables, bean bags, eco-friendly interior, attractive building designs, speedy connectivity, greenery, and food facilities complete a coworking space.
Owl Lab’s Stance
Coworking spaces did not emerge over a couple of years, but they have gained momentum since 2020 when the world went under Covid-19 pandemic lockdown. Since then, tech giants aside, they are landing Small-Medium Enterprises (SMEs), corporate firms, digital nomads, and freelancers.
Read more: Office Space for Rent in Lahore – Effective Working Strategy for SMEs
Owl Lab gave its employees a stipend with the liberty to settle in whatever flexible workspace they prefer. Upon analysis, they found that moving to a coworking stead has benefits like lower real estate costs and no tying struggle linked to office leases.
Insights from the Buffer’s State Of Remote Work Report, 2022
In its 2022 State of Remote Work report, Buffer, a social media-based business growth service provider, published that around 41% of remote workers will be more likely to perform their professional duties from multiple locations. Furthermore, they prefer shared office spaces as the most reliable option.
Coworking Spaces and Success Stories From Around the World
Coworking office spaces have been offering services to independent professionals, in-growth-phase startups, freelancers, and digital nomads for years. As April, the managing director of JB Promotions, quoted;
“For a small team, being part of a co-working space is a really great idea. You become dialed into a network of like-minded people who come from all corners of the business world. Whether you want to spend the day in a quiet desk space or bounce ideas off of neighboring entrepreneurs, this space allows you to do that.”
The trends, however, have changed as businesses of every size enter shared office spaces. By saving on real-estate expenditure, they can improve their bottom line and, most importantly productivity of their employees. According to Business.com, 47% of workers have shown improved work quality after moving to a shared stead.
Let’s dive into the success stories of businesses whose employees strived and they prospered toward multimillion projects.
Spotify and Its Success
Spotify recently started revolutionizing the music industry by offering improved streaming solutions. In 2021, it introduced a “Work from Anywhere” model allowing employees to choose their desired workstations. Spotify further provides co-working space memberships to workers so that they can choose to work from home, office full time, or both.
Success Story of Uber’s Employees
Valued at $31.8 billion, Uber is a global ride-hailing service founded by Travis Kalanick and Garrett Camp. From the beginning of its operation in San Francisco, the company has reached exponential growth. Hence, uber moved to coworking spaces in order to not only keep employees’ productivity intact but also increase their connection building. With less to invest in real-estate or infrastructure costs, it is focusing more on employees’ progress.
Indiegogo – the World’s Largest Crowdfunding Website
The largest crowdfunding website, Indiegogo, recently realized that its current space is insufficient to comprise every employee. Therefore, it went virtual and moved employees to flexible workspaces to ensure convenience.
Nguyen Coffee Supply Company is no Exception
Nguyen Coffee Supply Company moves to coworking space for additional storage, spreading brand awareness, and landing more clientele. With more connection-building opportunities, it offers workers new ways of building partnerships.
Machine Learning 1 – Another Success Story
Machine Learning 1, a data analytics and tools service provider, is another patron of shared office spaces. Being a startup, its operations begin from a coworking stead.
Shift to a Coworking Spaces Directly Adds to Employees’ Prosperity
There is no end to coworking spaces’ benefits. Employers can cut additional facility management costs while workers only worry about grooming.
Here are the top five ways how employees thrive in shared office spaces better than in rigid physical offices:
Flexible Office Spaces Continue to be Connection Hubs
Workers from different backgrounds, talents, and ranks work collaboratively in a coworking space. For 82% of employees, shared offices are a great source of building connections. And to many, these networks directly bring partnerships, referrals, and tips as the least.
Coworking Spaces are More Like a “Change of Scene”
As the proverb goes, a change is equivalent to rest. For employees, the environment of shared flexible workspaces can nurture business schemes, spark innovation, and bring something out of the box.
Coworking Environment Alleviates Loneliness
83% of employees feel less lonely in a diverse business environment. Therefore, employers should consider moving them to shared office spaces.
Shared Offices Offer a 24/7 Access and Connectivity
With 24/7 access to offices and uninterrupted connectivity, employees can escape unstable internet they might otherwise face. Hence, coworking spaces incorporate a sense of belonging in 55% of individuals.
Productivity is Another Outcome of Coworking
Not all employees are necessarily at the top of their skills while working from home. Similarly, strict physical office routines can also dull their potential. This is why 69% of employees claim they have picked new skills directly contributing to their productivity.
Read more: Shared Office Spaces – Redesigning Work Ethics to Enhance Work Productivity
How Techub Blends in the Success of Employees and Businesses Alike?
Flexible workspaces are open for everyone, from enterprise-level clients to startups, entrepreneurs, and corporate businesses. They help employers take workers’ experience to another level.
Techub is among the leading coworking spaces in Pakistan. It offers personalized offices, virtual connectivity, business alliances, and many more ways for employees to boost their morale. While working in an attractive and professional environment, there will be only productivity and success for individuals.
You can contact us for more information.
