Chances are that when you first think of a coworking space that images of enthusiastic startups, eccentric travel bloggers and coders hiding behind their screens spring to mind. However, one of the biggest myths that need debunking is that coworking spaces are only used by freelancers and startups. The truth is out – they are actually the foundation for many growing established businesses! An increasing number of established businesses choose coworking on a daily basis.
The Shift Is Happening: Established Businesses Choose Coworking
Massive global corporations are giving their employees the opportunity to work in coworking locations for a variety of reasons. Microsoft is said to have led this movement a few years ago. The movement was an effort to position their employees alongside innovative startups. Since then, countless leading organisations have followed the forward-thinking strategy.
So, your business brand is not as big as Microsoft – perhaps this isn’t for you. Think again! Businesses such as Instagram, Indiegogo and Hootsuite were all launched from within the humble walls of a coworking space.
The real question here is why more established businesses aren’t harnessing the power that comes with working in a coworking environment. We’ve put together three main reasons why the choice to move could be your next step towards success!
1. Maximise talent acquisition
One of the main reasons that major tech companies are choosing to relocate a percentage (or even all) of their staff to coworking spaces is to be near other innovative businesses and pioneers in the business space.
By strategically relocating a part of the business to a fluid environment (which just so happens to house a host of freelancers), businesses are positioning themselves to have top pick when it comes to talent acquisition. If the plan is to grow – you are going to want the best talent on the team!
2. Improved networking
Another fringe benefit of coworking is the number of quality leads that are presented by networking. At Cape Town Office, we understand the value in networking and make an effort to encourage a social atmosphere in communal areas where conversations can lead to conversions!
The coworking environment is perfect for lead generation, collaboration, advice sharing and “brain picking”. In addition to the opportunity to bounce ideas off of ambitious third-party individuals, a coworking space is also a field full of seeds to grow into a full harvest of business connections!
3. Enhance creativity and productivity
The coworking space is known to increase job satisfaction and retention in a huge way. And what is the direct result of a happy employee? Well, enhanced productivity and loyalty to the company to start!
The dynamic aspect of coworking has demonstrated results of sustainable performance which is deeply founded in a passion for a brand.
The nature of the workplace is shifting and the standard 9 – 5 is no longer appealing for many employees. In fact, it is even beginning to become resented in some cases. Powerful choice of wording, but a happy employee is a powerful asset.
From the Horses’ Mouth
At Cape Town Office, we are home to many different types of businesses – from young, budding entrepreneurs to established companies. One example of a more “mature” company that calls CTO home is GrooveHQ. The computer software company keeps over 8,000 customers happy – all from inside the sunny walls of CTO and beyond.
“Over the last few years, I’ve been fortunate enough to help grow companies that have seen me having to travel a lot and more recently, in a fully remote organization.
While travelling and working from home often sounds exciting (and for the most part, it can be) you start missing some basic necessities. Meeting at coffee shops is often a drag, as it’s hard to ask difficult or confidential questions (salary discussions with potential recruits, as an example) and you always dealing with flaky internet.
And if you will be based in an area for a while, setting up a workspace environment can be crucial to ensure that you have a space purely defined to work, along with bringing in creature comforts like a second screen, or other items that make working just that much easier.
That being said, over the last few years, if I am in any spot for longer than a week, I’ll be booking space at a co-working office.
Most recently with GrooveHQ, and the company being 100% remote and employees spanning nine different countries (we haven’t got an office anywhere in the world) we took full advantage of this. Needing to have the team jam a little together, a few of us grabbed some office space at “The Cape Town office”, had desks next to one another and worked alongside each other for a little over a month, making use of meeting rooms and joining in on the office events.
Outside of the obvious benefits, co-working also helps fully remote workers have a sense of community along with a network of like-minded folks that they can interact with. Being siloed at home or working from a coffee shop all day is great for a while. But it gets dull very fast…”
Closing Thoughts
There are so many other ways that a coworking space can benefit established businesses. The above reasons only scratch the surface.
Cape Town Office proudly offers a variety of different coworking packages that best work with your company. We want to see your company grow further!