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Working from home has proven to be a great choice during the COVID-19 crisis.
It sustained economic downfall by allowing businesses to operate from home.
Although remote work culture offered greater flexibility and ensured the safety of employees, it comes with some serious disadvantages as shared below.
You might wonder or even argue about the low productivity factor.
While most of us believe that working from home has increased the productivity of employees, a recent study has stated that employees working from home (around eight hours per day) were 70% less productive than those who don’t.
Plunged productivity stifles ROI.
But owning or renting a full-fledged physical office is also not a financially viable option, especially for SMBs and startups.
That’s one of the prime reasons why coworking is emerging as the most sought-after option for businesses.
In this blog, we’re going to highlight the top six benefits of coworking spaces that can accelerate your business growth.
Let’s get started.
You might be under the impression that coworking is an expensive option, but it’s not.
Coworking spaces save huge operational costs and improve revenue in the long term.
As a business owner, here’s how coworking can benefit you —
What’s more?
You can customize the design of your office and expand or relocate swiftly during high-growth stages. That way, coworking spaces support startups and small businesses as they scale effectively.
Hence, coworking spaces are a great choice, especially for small business and startup owners striving for the best results on a tight budget.
As we mentioned earlier, working from home impacts personal life and creates a communication gap, thus bringing unwanted stress.
This in return brings down the productivity of your employees.
Creating happy workspaces is the easiest way to skyrocket the productivity of employees.
With a coworking space, your employees get a chance to step out of the house and refresh their minds. They no longer feel confined to the four walls of their home. Coworking caters to customized and thoughtful workplace designs that suit their working style.
Thus, they can beat the mundaneness of routine life and work freely as per their convenience.
Another most significant benefit of coworking is that it provides a platform where like-minded people can collaborate and share their knowledge.
As per a study, employees who belong to close-knit teams can contribute to around a 21% increase in profitability.
Let us understand how collaboration can transform your business with a simple example.
| Your employees encounter certain roadblocks while working on an important project. The deadline is near. Instead of wasting their time, they reach out to professionals (coworkers) who hold expertise in that area and successfully deliver the project on time.A remote team, on the other hand, would take time to manage such roadblocks. |
This is the transformative power of networking and collaboration.
Coworking opens horizons to learning new skills, sharing ideas, and driving progress. It also creates a platform for entrepreneurs to connect with contemporaries, investors, and mentors.
It is noteworthy to mention how coworking companies like – The Address are nurturing their members’ professional journey by arranging annual and monthly events, such as, breakfast gatherings, sports live screening, health check-up drive, webinars of industry experts, and much more.
Here’s a glimpse of the enriched coworking culture and life at The Address.
Let’s admit it – working from home, which is associated with a sense of comfort and flexibility, has now become a reason for feeling isolated and drained out.
On average, work-life consumes around eight to nine hours a day.
If your employees feel isolated, undoubtedly it will negatively affect their work.
Low employee morale is a silent killer that hampers business revenue.
Around 19% of remote employees report struggling with loneliness. So, the problem is way more serious than you could imagine.
The solution is to offer an inspiring work environment for your employees.
Coworking is second-to-none when it comes to boosting employee morale by providing a better working experience. In a coworking setup, employees can roam around the office space freely, socialize with colleagues and contemporaries, and meet experienced professionals who can mentor and shape their careers.
Thus, coworking adds value to your team and ensures higher profits for your business.
Office ergonomics goes a long way in ensuring employee wellbeing and engagement. Your employees deserve an ergonomic work zone with the latest amenities.
Coworking space takes care of all such needs. It offers the following amenities and weaves an amazing environment into your office.
And the best part is, you get to share the expenses with coworking partners. All this makes coworking spaces a great choice for businesses.
Your brand image speaks volumes about your reputation in the market.
It reflects how your business is being perceived when it comes to your services and professionalism. For instance, your clients may know you as a trustworthy and reliable brand based on the quality of services you provide. Your team’s behaviour with clients and customers also matters.
But what about your workspace that’s frequented by clients and suppliers?
That’s a critical aspect of brand image that is often overlooked by businesses.
While you work on improving your services, a smart coworking space can go a long way in upholding a strong company reputation.
To ensure a positive professional image that attracts greater business opportunities, go with a coworking space that resonates with your company culture and vision.
Coworking overpowers the shortcomings of the working from home culture and drives business growth. These far-reaching benefits imply how the growing trend of coworking is a boon for businesses, small and big.
If you ask us what the future holds for the coworking model, we can confidently affirm it will be the next big thing in the business world!
So, whether you are a startup or an established business, let your venture thrive in a coworking space!
