What is Corporate Coworking?

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How corporates can embrace coworking in a flexible workspace.

Businesses globally have been given a big shake-up over the past two years as hit after hit of restrictions, lockdowns and public health crises have crippled businesses, both big and small.

What we are seeing in the wake of these struggles is corporate restlessness and a push for significant change, both from a leadership perspective as well as employees themselves demanding better work-life choices.

Global HR trends indicate that organisations across every sector and every continent are looking to implement bold changes, with the intention of building better connections with employees and increasing workplace flexibility.

Recent studies indicate that as many as 97% of global organisations are making changes in 2022 to:

  1. Increase innovation
  2. Strengthen customer experience

    3. Embrace digital work styles

A solution for many companies is to turn to corporate coworking. While early coworking spaces were intended for freelancers, solo entrepreneurs and small businesses needing affordable and flexible starting platforms, now even corporate companies are exploring coworking spaces for their employees.

Coworking transforms a workspace into a professional, high-quality service, so that staff are fulfilled, productive and satisfied to be at work and engaged with their tasks and customers through state of the art amenities and the flexibility of choice for office location, hotdesks and hybrid work options.

Work from home (WFH) was the go-to option for many from 2020 to 2022, causing difficulties and challenges for both business owners and their employees. Home offices often lack adequate or professional infrastructure in terms of ergonomics, strong and reliable internet and peace and quiet. Even workers who have a separate office where they can work successfully, still struggle with drawing a clear line between professional and personal lives, making it hard to switch off from work, or ignore the distraction of household chores. Possibly the biggest challenge WFH creates is social isolation and lack of face to face collaboration essential for workplace wellbeing, problem-solving and personal support and motivation. 

Coworking spaces can offer a professional work environment that bridges the gap between working from home and going to the office. Even during lockdowns coworking spaces were able to remain operational, meaning that face to face collaboration and networking isn’t lost during a crisis. The choice of different building locations allows workers to find something close to home and reduce the commute, with fully equipped, modern facilities that create a sense of self-worth and appreciation.

5 reasons to consider corporate coworking

To decide if corporate coworking is right for you, we’ve put together five of the biggest factors that have helped our clients choose coworking spaces over work from home options. Using this list can help you determine the ways that coworking can benefit your corporation’s productivity and provide added flexibility and support to your staff.

1. Enforce clear work-life boundaries

Working outside the home is important for separating home and work duties, however, long commutes can also be harmful to staff morale as they spend hours of their precious free time stuck in traffic, and run out of time and energy to enjoy home life and personal activities after work is over.

The ability for workers to choose a coworking space near their residence can improve their work-life balance through:

  • Shorter daily commutes
  • A stronger sense of community
  • Increased work productivity
  • More lifestyle opportunities outside work for better health and wellbeing
  • Helping employees avoid burnout and stress

Working close to home, but not at home, empowers employees to feel that work is not their entire life. Employees will arrive with more energy and look forward to finishing up their day to spend time with family, exercise or catch up with friends.

 

2. Benefits both employers and employees

Corporate coworking spaces are a win-win for both staff and employers. Coworking spaces provide state of art amenities to workers while reducing overhead costs for business owners. The short term contracts of coworking facilities mean that owners are not locked into a space that might not be suitable as the business evolves and grows.

As we shift to a work from anywhere (WFA) mentality, the definition of productivity has shifted focus from the tradition of sitting at a desk from 9-5 to the quality of output produced within a certain timeframe. This gives a sense of freedom for staff to control their day and work at the times they are most productive and prioritise their tasks in a way that works for them.

The open spaces boost creativity and collaboration for the team who are encouraged to come together to share ideas and solve problems together, increasing workplace efficiency and strengthening the skills and resources of all team members.

Coworking spaces offer fully functional spaces and amenities for every team member from hot desks and common work areas to meeting rooms and private offices.

3. Provides flexibility for staff

Other nations have seen the effects of the “Great Resignation” where large numbers of senior staff are quitting their positions looking for less stress in work commitments and greater work-life balance. The Great Resignation in Australia is a huge concern to employers as losing established staff who know the company and systems well is hard to recover from, especially in blue-collar positions where workers are underpaid and work is laborious, and positions are remaining unfilled.

Coworking spaces can help employees feel empowered to organise their own work schedule and removes the “anti-work” culture that’s prevalent today by giving employees a sense that their work is valuable and their role is important to the company. They have the ability to collaborate and network and see a valuable contribution as well as spend time doing what they love and attending to their personal commitments and responsibilities outside work.

4. Gives the team a sense of purpose

If employers want to attract and retain top talent, they must understand what employees really want from the company. While a good salary and benefits are obvious choices, employers often overlook the more intrinsic needs of:

  • Work flexibility
  • Commitment to health and well-being
  • Sense of purpose

Fully functional spaces that have healthy working environments can give your staff a sense of purpose with their work as well as within their team community and industry as a whole, which allows businesses to secure what employees really want in a workplace.

5. Forms a strong company culture and community

Coworking spaces have an innately collaborative atmosphere that can energise and inspire staff to innovate creative solutions to bring:

  • Diversity
  • Higher employee engagement
  • Loyalty

This community is not just limited to one department or one company, staff are given opportunities to mingle and interact with other people from different industries and companies, enabling them to widen their networking circles, learn new skills and approaches and broaden their thinking.

Coworking spaces have expanded and evolved past a small room for single workers to call an office. They are now large open spaces built for corporate workers and entrepreneurs alike to come together, network and collaborate in modern and stylish environments with first-class facilities. 

As companies worldwide look to implement transformations for employee engagement and loyalty in 2022 you may find that coworking spaces give you the opportunities you need to transform your own corporation to provide better connections with employees and increase workplace flexibility, motivation and purpose.

Take a look at Waterman’s coworking locations to assess if our corporate office solutions will enhance work conditions and inspire loyalty and motivation for your team.