The term ‘coworking’ has historically been associated with startups and small enterprises. But today, even large organisations are trying to leverage the benefits of coworking spaces. While there are obvious cost and other benefits that coworking spaces provide to small enterprises and startups, the question arises – why are industry leaders wanting to move to coworking spaces?
With large, established brands such as Microsoft, Uber, Spotify and Facebook also experimenting with coworking space for their employees, the trends are certainly encouraging for the coworking industry. Organisations no longer want to limit themselves to traditional office spaces, and have started to look beyond their doors. There is no denying the fact that coworking spaces exhibit a social atmosphere that makes them more employee-friendly and relaxed. The concept helps companies keep a tab on the latest changes in their industry, look for innovations and find the best talent.
There are several other reasons behind large organisations switching to coworking spaces. Here we discuss 4 of them.
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1 – Convenience
Coworking spaces provide what an office needs, i.e., amenities such as printer and phone facilities, wireless networks, refreshments for employees in exchange for a minimal fee. This grants large organisations freedom from having to provide these services on their own. Organisations no longer have to worry about office maintenance and infrastructure-related issues. It gives them convenience, and they can focus their attention on what actually matters.
2 – Costs
Large organisations are not strapped for cash. They don’t necessarily need to cut corners in order to save money. However, the money they spend on their offices is often exorbitant, given the typical conditions of the real estate market. Plus, there’s the additional cost of setting up infrastructure and utilities. By switching to a coworking space, large organisations can easily avail all the facilities at a fraction of the cost of a normal office.
The money thus saved can be instead put to some other use that can provide greater returns.
3 – Flexibility
Businesses are risky. No one can predict what will be the future of the organisation. Even though today some organizations may be at their peak, there may be times when they will have to scale down a little bit. Or the other way round, an organisation may have to expand beyond what they would have imagined. In both the cases, opting for a coworking space instead of renting or buying an independent office makes much more sense.
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Coworking space in Bangalore provides the flexibility to use as much space as and when needed. They offer several packages that you can choose from based on what services an organisation needs. Often companies take up more space the traditional way in the form of meeting rooms and boardrooms that they don’t always need. Coworking offices solve this problem by providing an option to rent such rooms instead based on requirements.
4 – Community Factor
The biggest advantage a large organisation can get from coworking spaces is a community of innovators, ideators and hustlers they bring together. Engagement within coworking teams could often result in ground-breaking ideas and innovations. It also provides them with an opportunity to find the next big thing, and a chance to invest in them.
By switching to a coworking space, organisations can fuel new energy into their teams by the way of collaboration and interaction. A new place filled with positive vibes is a harbinger of excitement for employees at the workplace. This improves the creativity and productivity of employees. By way of events and learning sessions, employees can consistently improve their skills. .
By building connections with other teams, organisations can attract new talent and recruit from a diversified pool of people. Such a community wouldn’t have been possible in a traditional workplace.
By opting for a coworking space, organisations can transform themselves into a truly people-centric workplace. It isn’t surprising then, seeing large organisations take this pragmatic step.