The COVID pandemic has affected all aspects of our lives, especially when it comes to working. As we enter an uncertain future with no end in sight, many companies are looking at new ways to operate during this time. One way to do that is by co-working. Co-working allows employees to work remotely from a shared space. This type of environment can be beneficial for both employers and employees alike and here are some of the top reasons why:
1. Boosts employee morale
When employees are offered flexible hours or working from home, they’re more likely to stay productive. And given the way COVID has affected us mentally, it’s important for everyone to remain optimistic about other aspects of life. If you’re worried your team isn’t as motivated as usual, consider giving them flexibility or offering remote working options through co-working.
Co-working also helps teams bond and connect on a deeper level since the office is not a requirement anymore. Think about it — the pandemic taught us how valuable it is to have face-to-face interactions. However, some people may need less interaction and others may need more. Since co-working doesn’t require employees to always leave the house and be in the office, they can be more open about who they interact with. In addition, it also eliminates office closings that can make employees feel more isolated and unmotivated than if they were at home. They don’t need to limit themselves to just those within their company, and that makes co-working even better.
2. Reduces commute times for employees
One of the most obvious benefits of co-working is that it reduces commute times. Some people are fortunate enough to live close to their workplace, but for many of us, this isn’t the case. By taking advantage of co-working, employees can reduce the number of hours they spend commuting.
Commuting is one of the biggest sources of stress and anxiety for people who need to go to the office every day. So why force yourself to sit in traffic going to an office when you can work from a co-working space instead? The idea of working from anywhere is incredibly appealing. And for many employees, having the ability to flex their schedule at any point is something that can make or break their productivity. It’s nice knowing that if you want to take off and change your scenery for the day, you can do so without feeling guilty.
3. Helps your business save money
Co-working spaces are often cheaper than renting an entire office space. With intermittent lockdowns happening, many businesses are seeing a decrease in revenue. You still need to pay rent and utilities for the duration of the lockdown when you’re renting an office space. But if you let go of the office space and choose to let your employees use a co-working space temporarily, you can cut down costs by half.
4. Brings together diverse groups of people
Another great benefit of co-working is its diversity. When you share a space with other companies, you’ll see different types of cultures represented. That means you’ll get to meet people from different backgrounds. This leads to more creative ideas and solutions being put forward. Remember that company culture in a remote team is just as important as in a traditional team. Co-working gives you the opportunity to bring together all sorts of different personalities and viewpoints.
5. Eases workload management
As more and more businesses have begun moving toward remote working, it’s become clear that workers still need somewhere to go beyond their desks. Co-working allows them to do this easily, allowing them to access conference rooms and collaborate without having to rely on email. This can help with workload management, too. You and your employees can choose which times are the best for you to communicate. Or you can also choose whether it’s necessary to talk to each member of your team personally during these times. Allowing your employees to work remotely has allowed you to scale back to only what you absolutely need to achieve.
6. Increases employee retention rates
Remote work isn’t going anywhere and let’s face it — some employees do prefer to work from home. If you’ve got employees who don’t feel comfortable coming into the office regularly, then providing flexible working environments could be key to retaining them. Employees will appreciate knowing that they can come in whenever they need to speak to someone about a project. They don’t feel like forced to come to the office every day. In the long run, there will be a lot of benefits to this, including reducing employee burnout, making communication easier, and increasing worker satisfaction.
The Bottom Line
If you haven’t already done so, it might be time to consider letting your employees work from a co-work space rather than an office space. As we continue to adopt new practices because of COVID, there’s no doubt that flexible working arrangements will be here to stay. By adopting these practices now, you can reap the benefits of remote working for your company’s success.
Refer to the Top Brands to know more about the Top 10 Co-working Space companies in the World.