Recruiting and retaining staff has become increasingly difficult in today’s ever-competitive marketplace. Paying an employee a good salary won’t necessarily guarantee their loyalty if they aren’t happy with their working conditions, don’t love what they do or hate the office culture.
So how do you reduce your staff turnover, and in turn, minimise hiring costs? Since its introduction to society in 2005, coworking spaces have become a flexible and affordable alternative to traditional offices. But not only that. Studies have found that employees based in shared office spaces are happier, more productive and there for the long term. We’ll explain why this is the case.
Studies have found that employees based in shared office spaces are happier, more productive and there for the long term.
In today’s world, people don’t like to follow a rigid nine-to-five schedule. The preference is to work with a greater degree of flexibility and freedom. With most coworking spaces opened around the clock, workers can choose when to get work done according to their timelines (within reason), opting to break up their day with chores or work longer hours on big projects that require extra output.
Having full-time access allows employees to feel more like autonomous workers with greater control over what they do rather than cogs in a machine, ultimately leading to job satisfaction.
At the same time, coworking spaces provide a level of structure, which some people need to focus. For businesses, this spells for better work performances and increased productivity collectively.
Increased learning opportunities and development
In a traditional workplace, invaluable employees might resign because they’ve hit their ceiling and feel that opportunities for learning more in their current job are slim, which makes sense. Being surrounded by the same team, day-in-and-day-out doesn’t provide much room for growth in one’s respective career.
However, working from coworking spaces is exciting because employees can interact with professionals from vastly different fields. Having different desk companions every day of the week allows for stimulating conversations, learning fresh perspectives and arriving at a new solution that an employee might not reach working on their own.
Frequently, coworking spaces host workshops, which can be hugely advantageous for businesses wanting to invest in their teams by upskilling them. These business supporting programs are also invaluable at a personal level for team members wishing to advance their careers.
In summary, employees have diverse learning opportunities at their fingertips, where a “teach and learn” approach to working prevails.
Frequently, coworking spaces host workshops, which can be hugely advantageous for businesses wanting to invest in their teams by upskilling them.
Working remotely can sometimes hamper productivity because there are plenty of temptations, plus being isolated can be extremely mentally taxing and discouraging.
Being surrounded by like-minded people all day is a huge motivator. Not only does it keep your teams’ productivity on track but prompts creative and innovative thinking.
All humans need some social contact. Therefore, being at home all day is boring, repetitive, uninspiring and lonely. Additionally, expecting staff to have major breakthroughs when they’re alone all day isn’t all that realistic. Furthermore, not having colleagues around can have negative consequences for mental health.
At the other end of the spectrum, working in a traditional office space where colleagues don’t click or are unhealthily competitive is depressing and may lead to the development of toxic workplace culture or top performers quitting for greener pastures.
The middle ground is coworking spaces, which puts professionals in contact with people outside of their fields. This is useful for learning new skills and strengthening existing talents. It also provides a platform to forge genuine workplace friendships that enhance the quality of office life where people aren’t in direct competition with each other but offering support, guidance and pointers.
Networking and collaboration
For a business to survive, you need to hire or utilise the right professionals when grappling with unanticipated obstacles.
Coworking spaces connect you to a broad spectrum of specialised workers to hire or ask for help when you hit a stumbling block.
For example, knowing that you have IT specialists a few metres away could turn significant bug issues that would typically cost you time and money to fix using outside help into a problem solved free-of-charge quickly.
In addition to this, coworking spaces quicken the process of finding the right employees for jobs without undergoing expensive and lengthy recruitment procedures and puts you into contact with freelancers who can help you on short term projects.
An aesthetically pleasing space
Considering they spend a considerable chunk of their lives working, where employees' work is as equally important as what they do. In other words, modern-day professionals want to be proud of where they work.
A dull, drab and depressing workspace might not cast the most favourable impression in the eyes of potential employees, even if the work does interest them.
Coworking spaces are often presented as bright, spacious and easy on the eyes because of their carefully thought out designs. In offices like these, your current workers will feel motivated and inspired by their surroundings.
Access to in-built amenities
There’s nothing more frustrating than not being able to perform one’s job properly because of extraneous factors. For example, faulty equipment or weak internet connections.
Coworking spaces provide high quality amenities and infrastructure that aids employees in working better and faster, which in turn, adds to job satisfaction. These office basics allow employees to perform at top capacity without being let down by second-rate technology.
Some coworking spaces go the extra mile by offering benefits for employees aimed at improving their wellbeing, including onsite facilities like gyms, relaxation zones and onsite cafes. With these facilities on hand, stressed or exhausted workers on the verge of burnout have access to recreational outlets.
Some coworking spaces go the extra mile by offering benefits for employees aimed at improving their wellbeing, including onsite facilities like gyms, relaxation zones and onsite cafes.
Coworking is bridging a gap in hiring and retaining staff. Why? Because shared office space promotes an ideal working environment where employees can achieve greater productivity, meet new people, never stop learning and feel looked after.
On the flip side, hiring recruits from a coworking space takes the stress and hassle of locating the right talent.