Working from 9 to 5 isn’t as stylish as it once was back in the day. Today, young working professionals are all about flexible working styles. They prioritize a balance between their daily grind and personal life, and take breathers when tasks get too hectic. That’s why the trend of coworking spaces has gotten massive.
Coworking is the modern take on stuffy, traditional corporate offices. Instead of feeling trapped in giant offices from the time you clock in to when it strikes 5:00 PM, a coworking space is a dynamic space that you share with other people, where you go at your own time and pace. This allows more fun and fluidity in how people work.
When you’re running a business from home/coworking spaces, you can give a lot more breathing room for your employees to actually live their lives while boosting productivity for the work they have to do. Interested in moving your company to a coworking space? Here are six key reasons to do it.
Why a Coworking Space is a Fantastic Idea in This Day and Age
Since the pandemic started a couple of years ago, many people have gotten used to the shift of working from home instead of in an office. There are a lot of perks that come with it, such as being able to spend more time with family and saving on transportation and commute expenses.
In fact, people have gotten so used to it that many employees expect the work-from-home scheme to be permanent, not just a band-aid solution to the pandemic. Around 74% of working professionals genuinely believe that working remotely is the new normal, and that companies will shift to it for good.
But working from home can cause some issues as well. Not everyone has stable internet in their house. Yet they rely heavily on office WiFi to get their work done. Carving out a corner of the house to be your work area is also an issue, especially if you have children staying home all day with you.
Coworking: The New Normal
Enter coworking spaces — the new frontier. Coworking is basically the arrangement of people from different companies and career backgrounds sharing an office space where they can work together. In a coworking space, you share equipment, amenities, tables, desks, and sometimes even free food, with others.
Coworking spaces are the perfect in-between of working from home and having to go back to the office. It offers all the benefits of working from home, just with extra amenities and a better shot at achieving that work-life balance, something the younger generation of workers prioritize.
CircleHub has open coworking spaces with plenty of hotspot desks — shared areas you can drop by and work whenever you want, without the long-term commitment. You can grab a seat by the comfy lounge, the more discreet work bar, or any other area you want to call your personal workstation for a day.
Not sure whether running a business from home/coworking spaces is the right move for your company? Here are six strong arguments that can convince you otherwise:
Save on Overhead Costs
When all your operations happen in an office setting, there are a lot of overhead costs you have to think of. First of all, there’s the rent of the space or floor itself. Then, you have utilities, like water and electricity. Then, other essentials, like food, housekeeping, staff, office equipment, and more.
The added expense of an office might not be great for a business that’s just starting out. It becomes a burden financially, not just for you but also for your employees. After all, they also have to shell out their own money to commute to work every single day.
By running a business from home/coworking spaces, you save more of your capital and help your employees save their hard-earned cash, too. Coworking spaces already have everything your employees need for work — from desks and tables to free coffee and food.
It’s been found that a small company with less than 15 employees can expect to save about $2,700 every month if you’re running a business from home/coworking spaces instead of a leased office. That’s a huge amount for a young business.
Easily Compartmentalize Home and Work Life
Although working from home seemed great at first, people started to slowly realize how detrimental it was to their home life. The line dividing work and personal life was blurred. Babies started crying in the background of every call, and parents had a hard time preparing meals because of late Zoom meetings.
So long as you’re working from home, the other half of your life will suffer. You’ll either get distracted from work by chores you have to finish, or live in an unkempt home with no groceries because you’re working overtime.
By allowing your employees to work elsewhere, they can get a boost in productivity without the distraction of home. Plus, it draws the line between work and home life again. It gives them more balance and creates more boundaries for them.
Plus, a change of scenery from a desk they’ve been staring at for the past two years will do wonders for your employees’ mental health and wellness!
Working Hours and Styles Can Be Flexible
When running a business from home/coworking spaces, work hours can be more flexible. Coworking spaces are usually open for most of the day. Thus, your employees can come in and work on their tasks whenever they want. They won’t be constricted by strict clock-in and clock-out hours like traditional offices have.
This is great because employees will have different work styles and preferences. Some people work better during the morning, while others do their best work after a quick brunch and coffee. Others work better at nights. The flexibility of working whenever they want is a huge benefit to their comfort and productivity levels.
Having this kind of control in their work schedule can help give more meaning and purpose to your employees’ work. They won’t feel as if they’re trapped in a job if they do it at their own pace.
And with a fresh, thriving work environment like the coworking spaces at Circle Hub, where there’s always something new to do and someone new to talk to. It won’t feel like they’re doing the same mundane tasks every day.
Professionalism Without the Rigidity and Stuffiness of a Corporate Office
One reason why younger workers don’t find the idea of going into a corporate office attractive is that it doesn’t make them feel independent. There’s also a lot of office politics and drama that can easily be avoided when you’re running a business from home/coworking spaces.
If you opt for a coworking space, you’re allowing your employees to work in an environment that isn’t so constricting and stuffy, but still has an air of professionalism and sophistication. It’s a setting that’s conducive to learning and working, but without rigid hallways, uniforms, and strict man-hours.
More Opportunities for Networking and Community-Building
When you’re working from home, you get feelings of loneliness and isolation out of nowhere. It could be from cabin fever and not seeing the outside world. But, most of the time, it’s because you’re not seeing the people you’re working with face to face.
There are lots of business-savvy and entrepreneurial people working alongside you at coworking spaces. And when you’re between tasks, you’re free to converse with them as much as you want. That only means one thing — big networking opportunities.
At coworking spaces, you’ll meet all kinds of people from all sorts of backgrounds. You’ll find CEOs of start-ups working at the same desk as fun-loving, free-spirited freelancers. By making connections with them, you widen your network and list of potential clients and partners for future projects.
There are also a lot of opportunities for community-building internally among your employees when they work at a coworking space instead of at home. They can get to know each other better, form camaraderie, and help each other with tasks if they need to.
Physically working around the people they’re meant to team up with also strengthens the quality of your employees’ work. It’s easier to brainstorm in a huddle than it is over a Zoom call, where people can accidentally cut each other off or have connection issues. Working as a team runs much smoother in a coworking space, which leads to better output.
The Amenities Make it as Comfy as Working From Home
More often than not, coworking spaces have additional amenities that make them more fun than traditional offices. These perks can include yoga rooms, napping rooms, beautiful gardens, and more.
Amenities similar to these are crucial to ensure that your employees are happy. They are all attempts to ensure that everyone who works there gets the work-life balance they deserve.
At CircleHub, we have a fitness center to let people blow off some steam and work out when they want to. Many people are so burnt out at work that they can’t even do the things they love, like exercising. So, we try to bring the gym to them.
We also have a game room where people can come together and beat the boss level in their favorite video game, or have a brain break with some simple card games. It’s a great way to refresh your employees’ minds when they need to wind down after a big project.
Issues One Might Face in a Coworking Space
But of course, even if running a business from home/coworking spaces has plenty of benefits for your company and the happiness of your employees, it’s not always perfect. On many occasions, one might come across logistical issues and troubles while running a company from a coworking space.
For example, there are days where employees could walk into their favorite coworking space and find no free tables and seats.
The more popular a coworking space, the more cramped it will be on some days. That means there’s no guarantee that there will be always a desk or chair available for you.
CircleHub acknowledges this issue, which is why we also offer designated desks in our spaces. These desks are reserved just for you. But like hotspot desks, there’s still no long-term commitment, so you don’t have to worry about jacking up your bill.
Another solution is to reserve one of CircleHub’s private office suites, which are rooms with one to five desks. This is great if you want to reserve a space for you and a couple of friends and teammates but don’t feel like being around other people (we get it — we all have our introverted days!).
One more issue someone might struggle with when running a business from home/coworking spaces is how to hold private meetings.
In many meetings, confidential information like revenue and contract details are discussed. You can’t just hold them in a big, open coworking space where people outside your company can hear everything you’re talking about. It’s especially important to hold meetings in private when you’re doing it with a big client.
For that, you can rent out CircleHub’s conference rooms, which can hold anywhere between four and 12 people at a time. Each private room even has a flat-screen TV and a whiteboard. They’re perfect for conducting brainstorming sessions and going on video calls as a team.
The list of reasons why you should be running a business from home/coworking spaces is unlikely to run out, but the six above are some of the strongest perks of this growing trend.
Running a business from home/coworking spaces is a great way to boost productivity among workers, whether it’s through fun and convenient amenities or simply being around like-minded individuals who are ready to help you with anything.
If you run a business that puts wellness, work-life balance, and employee happiness at the core — and that needs to save on a few overhead costs as well — the move to coworking spaces might be ideal for you.
Want to learn more about the coworking spaces available at Circle Hub? Get in touch today for more information, or book a tour to see things for yourself!