Why Coworking Spaces Are An Usefull HR Strategy For Medium And Large Businesses

Coworking spaces have made a huge boom in the business world. The rising number of remote workers is motivating a consistent appearance of new coworking spaces. With their notable importance in almost every industry, some businesses could make good use out of this phenomenon.

Instead of being an observer, medium and large companies can turn coworking spaces into an HR strategy. Successful corporations such as Coca Cola, IBM, and Phillips have already embraced it.

The idea of combining HR with coworking spaces might confuse you at first, but it has a good foundation for success. Coworking spaces can be an ace up the HR’s sleeve. They can use this popular workplace setting to grow the company and improve employee’s productivity. Here is everything that medium and large businesses need to know about using coworking spaces as an HR strategy.

Why Should Medium and Large Companies Consider Coworking Spaces as an HR Strategy?

The easiest way to show you how medium and large companies can benefit from coworking spaces is to name specific advantages. These are the reasons why coworking spaces can be a great HR strategy:

1. Quickly adapt to staff changes

A sudden change in staffing levels happens in every company. Coworking spaces can help you accommodate to such unexpected changes. There will be no rearranging the offices or being left with empty buildings. The transient nature of coworking spaces is one of its many positive traits.

2. Offer a choice of workplace

Give your employees a choice. Rather than experiencing the typical morning commutes, your employees can head to the closest coworking space and get their job done. The choice of a workplace can be a good way of attracting and retaining great employees.

3. Show the company’s progressiveness

Present your company as a business that is open to change and new ways of working. Progressive companies will always have a better chance to attract talent than those who never take a step forward. Estelle Leotard, a freelance writer at TopEssayWriting, shared why corporations with coworking spaces have an advantage. "Companies that have coworking spaces seem more innovative in my eyes. They show that they are one step ahead. Having an opportunity to work in a coworking space is something I would account for when making an employment decision,” said Estelle.

4. Inspire creativity and productivity in employees

Coworking spaces are designed to increase innovation, creativity, and productiveness. The Global Coworking Survey by Deskmag did research on the topic and surfaced the following findings:

• 71% of people noticed an increase in creativity after joining a coworking space
• 68% of people claimed that their focus was better in a coworking space
• 64% of people said they got better at completing tasks on time since they started working in a coworking space

The surroundings and amenities in coworking spaces motivate employees to be more productive and creative. This means that you can expect better results.

5. Provide extra benefits

Rather than spending half of their day in typical offices employees can enjoy all the benefits that coworking spaces have to offer. These benefits can include a comfortable break room, restaurant, gym, rooftop garden, walk paths, etc. This isn't something that many companies have. Nor they have to now that we have coworking spaces. As an HR professional, you can use such benefits to make job postings more interesting and appealing to potential employees.

6. Offer flexibility

Gift your employees with greater control of their workday. According to research, 73% of employees claim that flexible work hours increased their satisfaction at work. Increased happiness will lead to increased productiveness. This is a classic win-win situation. You get more productive employees and they get a work-life balance. Take the words of employees as proof, "Flexibility is what matters the most to me. With a child at home and an employed wife, I need to be able to adapt my work hours,” says Anthony Maury, a contributor writer at Subjecto.

7. Reduce costs

Starting up a new office space can bring huge expenses. Not to mention the costs of building your own office space. That would lead to allocating funds for a space, fire insurance, rent, new office equipment, and so on. The list can seem endless and you'll need a good budget to cover it all. It is true that you need to pay a monthly fee for a coworking space but keep in mind that everything is included in that. Once you pay the fee, there is nothing you have to worry about.

8. Create a networking opportunity

Networking can bring your company new clients and potential partners. It can also be a place where you could find talented potential employees. The networking opportunity is beneficial for employees as well. They will be able to meet like-minded individuals, learn something new, and potentially boost their skills. Unlike the office spaces where the staff pretty much never changes, coworking space offers changeable diversity of smart and creative people.

How to Integrate Coworking Spaces into HR Strategy

If you decide to incorporate coworking space into your HR strategy there are some things you need to consider. The following advice will give you some insight into what you need to pay attention to:

• Security of data can be one of the preoccupations of HR regarding coworking spaces. However, it shouldn't be. Most medium and large companies already have remote workers. Therefore, their policies, procedures, and programmers are adapted to such a way of work. To ensure extra security, the company can get a robust cybersecurity policy. For example, the provision of private Wi-Fi networks. Or, separate servers.
• Payment-wise, the HR team can set up a coworking allowance. Remote workers can receive a monthly income that will cover membership costs.
• Nowadays, startups often have their roots in coworking spaces. If you are acquiring any startups you can suggest that they stay in their initial coworking space. This will save the company the costs of renting offices for the startup and they can stay in a familiar environment.
• Before deciding on a coworking space for your remote employers check the whereabouts of your competitors. Proximity to competitors should be a factor in deciding on a coworking space. You don’t want your employees and competitors employees in the same building or even office.

Final Thoughts

Who said that coworking spaces are reserved solely for small companies and startups? Coworking spaces give medium and large companies a chance to stand out among the competition and improve the satisfaction of their current employees. This strategy can bring something completely new into your company and give you a chance of growth and increased employee satisfaction.

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Post Author: Kristin Savage nourishes, sparks and empowers using the magic of a word. Along with pursuing her degree in Creative Writing, Kristin was gaining experience in the publishing industry, with expertise in marketing strategy for publishers and authors. Now she works as a contributing writer at TrustMyPaper and GrabMyEssay. You can find her on Facebook.