When people think of coworking spaces, they often associate the concept with individuals: freelancers, solo entrepreneurs and the like. But these days, more and more companies are choosing coworking spaces for their employees as an alternative location to the standard corporate office.
Online loan provider MoneyMe is one such company – and they’ve found a home at Dashworks. Let’s take a look at some of the reasons corporate businesses like this one are choosing coworking spaces for their teams and employees.
1. Flexible working arrangements
Flexibility is becoming an ever-more important asset in the modern workplace, for businesses and individual workers alike. Flexible working arrangements allow a healthier work-life balance for employees, boost productivity, aid in the quest for gender equality, and much more.
Having the option of a coworking space gives your company a flexibility advantage right off the bat, ensuring you’re keeping up with the times for the benefit of your employees and your business as a whole.
2. An alternative to employees working from home
One of the most common ways companies introduce flexible working arrangements is allowing employees to work from home. However, this doesn’t necessarily work for everyone. That’s where a coworking space comes in.
Having a dedicated company space in a coworking facility removes all the productivity-killing distractions of the home office. Plus, it reintroduces the convenience of office amenities (high-speed internet, ergonomic desks, breakout spaces, and did someone say coffee on tap?!), while still remaining fresh and separate from the traditional corporate environment. It’s the best of both worlds.
3. Increased productivity
Sometimes all you need is a space to focus entirely on a project, and that can be hard to find in an often-distracting traditional office environment. But it’s a different story with coworking. Employees have a workspace that feels much more like their own, and a schedule to match – all of which generally leads to a big increase in productivity.
Coworking spaces also introduce an increased sense of autonomy and freedom and a more relaxed atmosphere, contributing greatly to employees’ mindsets and mental health. Forget the rigid, uncomfortable corporate attire and environment – we’re talking jeans and tees, ambient tunes playing, breakout spaces and lounge pods… Teams get their best work done when they’re feeling their best, and that’s often much easier in a coworking space.
4. Increased employee engagement
Speaking of feeling your best… A happy employee is an engaged and motivated one, so it’s no surprise that many corporate employees who have the option of a coworking space are better able to engage with their work. This mode of work can reduce the travel time and stress often associated with a typical CBD office commute and schedule. The result? Employees have more time for family, exercise, self-care and all those other things so important to health, wellbeing and happiness – giving them the capacity to be more switched on and engaged at work than ever.
The flexibility and atmosphere of a coworking space also contributes towards a positive, cohesive workplace culture, which in turn encourages engagement. This is one of the reasons MoneyMe chose Dashworks as an expansion point for their team. “While MoneyMe is now six years old, a lot of our current staff have been here from the beginning and are very much in touch with our start-up culture,” says Jake Havey, Credit and Payments Manager. “We were firm believers that having our Newcastle team start in a similar environment would be a great way to keep in touch with our company culture.”
5. Employee retention/Travelling employee base
In yet more benefits for employees, the increased availability of coworking spaces gives companies more options than ever for retaining and facilitating the talent on their teams.
Got a team member who’s moving to a new location? There’s no need to lose them – just get them set up at their local coworking facility as a remote employee. Have travelling employees who need somewhere to base themselves? Secure them a coworking space and watch their productivity flourish, even when they’re on the road. It’s a win/win all round.
6. Increased knowledge of new technology and trends
Technology is the industry most commonly associated with coworking spaces, so it’s pretty much a given that you’ll be working alongside tech professionals, founders and start-ups when you use such a space. This close proximity, paired with the regular events often held in coworking communities, provides your company with increased exposure to new tech and trends.
This is something that’s proven true for MoneyMe. “Collaboration for a company such as ours is extremely important. We value the ability to learn, collaborate and grow by learning from those around us,” says Jake. “A coworking environment has allowed our team to learn from others that they may otherwise not have had the chance to engage with. Whether it be through the regularly scheduled speaker series, once-off events or just a friendly communal lunch, our team has greatly appreciated the chance to chat and learn from some inspiring people.”
7. Space to test a new market
If your company is ready to branch out and test the waters in a new area, what better way than to set up a satellite office in a coworking space? Whether it’s one employee or an entire new team, having a presence within a shared workspace in your new location can help increase your reach and market share. And as a bonus, your satellite worker or team will be situated among like-minded businesses and people.
“There were a number of reasons why MoneyMe decided Dashworks was the right choice for our expansion into Newcastle,” says Jake. “Expansion can always be a little tricky, and with a brand-new team, selecting the right working environment was important. Our intention was to surround the new team with dedicated, like-minded people all driven towards similar goals and objectives.”
The close proximity to other companies can also offer increased opportunities for B2B sales. Situating a sales or business development staff member in a coworking space is an easy way to foster important connections and grow your network and client base.
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Looking for a coworking space for your company? Why not join a host of other national and local businesses at Dashworks? Click here to book your free 5-day trial.
