Contrary to popular opinion, coworking spaces are not exclusively for freelancers and start-ups. A rapidly growing segment of the industry comes—somewhat surprisingly—from the corporate world. In fact, a recent survey by CBRE Research indicates that 65% of enterprise-level organizations plan on leveraging the power of coworking by 2020.
A CREATIVITY AND COLLABORATION KICKSTART
Savvy business leaders understand that there are limitations to how creative team members can be within the confines of a typical corporate environment. A natural state of complacency exists when people show up to the same desk, cubicle or workstation every day.
By leveraging coworking as an option, corporations can send employees off-site for the day, week or longer with the sole purpose of kickstarting their creative mindset. Additionally, these employees will have an opportunity to collaborate with different people from other forward-thinking companies. Such encounters—whether at a desk area or the in-house coffee shop—could spark game-changing innovation to integrate into company initiatives or projects.
THE BOTTOM LINE
Igniting creativity and inspiring new collaborative efforts are wonderful reasons for any company to implement flexibility in work location, but what about the bottom line? Recent findings present an excellent argument for companies to invest heavily into coworking spaces as a way to actually save money.
The fact is that corporate longevity isn’t what it used to be. A recent survey by Innosight shows that the average lifecycle of a corporation is expected to shrink to around 14 years by 2026, which is down from the 33-year reported lifespan in 1965. In that case, why would a company sign a ten or fifteen-year lease for dedicated office space?
As an alternative, companies can look to coworking memberships as an enterprise solution that provides month-to-month agreements while maintaining access to the business amenities they need. There’s no need to hire a receptionist, IT staff or office cleaners because those tasks and responsibilities are typically absorbed by the coworking space. By utilizing coworking spaces to reduce their physical footprint, organizations can cut expenses, not only in real estate, but in labor costs as well.
A RECRUITING TOOL
It’s not news that the millennial workforce is quite different from their generational predecessors. In fact, most corporations have realized that merely offering more money isn’t going to be the deciding factor in recruiting young professionals. Rather, unique benefits and the promotion of a positive corporate culture appear to be two of the best ways to consistently bring in great people.
Flexibility to work on-site one day, and the next at an inspiring and conveniently located coworking space, may be just the type of perk many highly-skilled prospective employees are looking for. Some corporations have chosen to sign partnership agreements with specific coworking providers, while others offer stipends to allow employees to choose their own coworking location.
A CORPORATE COWORKING FUTURE
A creativity and collaboration kick-starter, a welcome addition to their bottom line and a top-notch recruiting tool—it’s no wonder corporations are including coworking as a big part of their future. At Roam, we offer customizable solutions for companies looking to provide employees with access to an innovative and collaborative coworking space. If you are interested in learning more about our enterprise offerings, contact us to discuss how we can partner together to achieve your business needs.