In 2020, over 3 million people are working in coworking spaces. From the solopreneur to the edgy startup to the executive needing a change of atmosphere, many people are experiencing the benefits of a shared office.
With so many moving away from traditional offices to a coworking environment, it is natural to wonder what’s influencing this shift in how professionals, corporate teams, and small business owners alike are using working spaces.
As working in a coworking space becomes a global trend with a market value of over $26 billion, let’s take a look at the benefits of coworking that are contributing to this change in the way people work.
1. Break Up the Monotony of the Home Office
Around 41% of those using coworking spaces are freelancers. They use these spaces as a more professional place to meet with clients, collaborate with other freelancers on projects, and to escape the loneliness and productivity-drain that many experience when they work from home.
Freelancers may make up a large share now, but CNBC reported a 90% increase in corporate use of these non-traditional workplaces over the past couple of years. Lenovo, Smile Direct Club, and American Cancer Society are just a few we all know.
2. Build Relationships More Effectively
Shared spaces are like Linkedin in the real world in that goal-oriented and successful professionals gather there. For this reason, solopreneurs and small businesses alike have found that coworking spaces are the place to meet people, including:
- People in the industry for future collaboration
- People who offer valuable client services
- Potential clients
- C-suite professionals
This alternative work environment certainly is not the place to hock your services, but it fosters human connection and creates an organic experience where like-minded people come together.
3. Save on the Occupancy Cost
In 2019, traditional office space prices in Atlanta soared 22% over the previous year, forcing many Atlanta businesses to get creative, cramming more people into offices with smaller footprints.
Many Atlanta businesses don’t have the luxury of leasing a building with conference rooms or other group spaces that they don’t need all the time. For these businesses, shared conference rooms are a cost-effective solution for client meetings and team collaborations.
For young businesses coworking environments also provide a Class A image that newer companies can’t afford and they try and impress their potential clients and attract top talent.
4. Promote Business Growth
Not unlike a bonsai tree, how fast or large a business grows depends strongly on how ample their space is. A company that’s outgrowing its building may cut back on hiring, take on fewer clients, or have to constantly juggle their existing workspaces around to find meeting rooms, which cuts into productivity.
Shared spaces change all that. They grow with you, so your business can maximize its potential and get more done. As an organization needs more space, it rents more space. And speaking of increasing productivity…
5. Increase Productivity
Coworking spaces definitely put the focus on “sharing”, but these spaces meet many business unique needs.
When it comes to productivity, they can bring people together who may otherwise have to communicate remotely. Instead of the back and forth, they get more done because they work together in real-time.
However, there’s another side of shared spaces less familiar to most. Coworking spaces also offer private offices in addition to hot desks or communal areas. As traditional offices in Atlanta get more crowded and businesses have to make more efficient use of space, many employees from upper management to the traditional cubicle professionals are finding themselves in open offices that aren’t conducive to concentration, productivity, or accuracy
Whether through private offices or designated quiet areas, coworking spaces deliver the peace and quiet needed to work productively.
6. Battle the Toxic Workplace
23% of employees report that they work in a toxic workplace, yet 46% say culture is “very important” in their decision to take a new job, and 47% of people looking for another job say that their current company’s culture is why they are leaving.
This unhappiness hurts business. It costs up to one year’s salary to replace an employee.
Some offices have years of built-up negative energy that continues to spread as new employees come into the organization. It’s not easy for new leadership to change toxic culture.
Many are turning to flex spaces to breathe new life into their company culture. By taking people out of their usual surroundings, they can nurture more positive employee interactions and personal growth.
7. Get Inspiration
Drab traditional offices can kill productivity and creativity. Coworking spaces are clean and minimalist. They’re bright and colorful with live plants and vibrant ambiance. If your team is struggling to find their inspiration, mixing it up with a shared space may be exactly what your group needs to break through the mental block and create something amazing.
Working in a Coworking Environment
Discover for yourself the benefits of coworking spaces. With over 250 members and two convenient Atlanta locations, SharedSpace offers professionals and businesses community, productivity, growth, inspiration, and customized workspace solutions.
Start your free office trial at our Dunwoody or Cobb location today!