Technology has made it possible for employees to work remotely and entrepreneurs to run their businesses from anywhere in the world. Confining workers in a cubicle for 9 hours a day has now become outdated, with big multinational companies opting to hire remote employees and leveraging the fast-growing trend of shared workspaces. 

Shared workspaces allow employee collaboration, socialization, and face-to-face interactions. It eliminates the many barriers that come with working from home and at the same time eliminate the need for employers to chain employees to their desks for nine hours a day. In that context, if you are looking to hire employees and find them a decent place to work, then you can channel your requests through a global peo, such as NH Global Partners. It is like a hybrid of a traditional office setting and a “working from home” setting.

Of course, there are many advantages of working in shared workspaces. They include:

1. Added flexibility

This flexibility helps in three ways:

  • Flexibility in decision making and planning. If you are a startup entrepreneur, it is hard to predict what your financial position will be in a month’s time or where demand and supply will take you within a year. You could, for example, be forced by market forces to relocate to a different town or city in the next few months. If you rent an office space, you will be tied down by year-long lease commitments, so you will find it hard to relocate your business even when you clearly need to. The good thing with shared workspaces is that they are offered on a month-to-month basis. 
  • Flexibility in financial planning. Shared workspaces don’t require any upfront fees or deposits, no utility costs to worry about, and no renovation obligations. That is exactly what businesses need to keep their running costs down, and to reduce their book-keeping and accounting burden. 
  • Workforce flexibility. You can increase or decrease the number of employees without worrying about space. There will always be a private desk for new employees, unlike in a traditional office where you’d be forced to knock down walls and buy new furniture to accommodate a growing workforce. 

2. Your inspiration and productive flow will grow 

Shared workspaces allow you and your employees to share a room with industry leaders and other top professionals. Everyone in a shared office is working hard. The conversations in such a space are all helpful and productive, and mentorship opportunities are always open. Get your inspiration flowing because, let’s face it: Having diligent workers all around you is the right recipe to get your gears rolling and generating up new ideas and business solutions. 

If you want to get inspired during your business trip to Boston, you will love working at a coworking space in Boston. While there, you will meet career folks with a passion for travel and risks, from whom you will learn a lot about risk taking and running a profitable business. Working in these coworking spaces also gives you access to the best technology, high-speed internet, and the best office amenities in the world. 

3. Cost-efficiency 

In a shared workspace, you only pay for what you need. If you no longer need a space, you just discontinue your membership. If you need more space, you pay for it there and then. This is unlike in a traditional office where you will be stuck with empty cubicles in case your workforce shrinks. Shared workspaces allow you to channel the money you’d have paid for wasted space to more urgent business needs. 

4. Better office space and location 

Maybe you cannot afford to create an executive office suite for yourself, but you can afford to pay for a high-end coworking space. As we mentioned, coworking spaces charge a monthly fee. So you only need a good month in business to find your way into expensive office spaces in prime locations. Note that most high-profile clients prefer to meet in high-end neighborhoods and offices with state-of-the-art equipment. Most of these shared workspaces are located in prime buildings where clients want to meet, so they will help you close more deals, all at a lower office cost. 

5. Tech-enabled workspace 

Configuring and maintaining a modern IT infrastructure in your office is expensive, risky, and time-consuming. 

  • It is expensive because tech equipment is pricey, plus you may have to hire an in-house IT team for your maintenance needs. 
  • It is risky because even with an in-house IT team, you still have cybercriminals to worry about. Also, if your tech infrastructure crashes, repairing it may take a long time and data could be lost. The downtime that precipitates from that may crash your business. 

With a shared workspace, all the technology you need is included. Yours is simply to focus on your core business. 

More: WHEN DISNEY WORLD’S INTERNET ISN’T MAGICAL, WHAT’S A DIGITAL NOMAD TO DO?

Conclusion

If not for anything else, coworking spaces will enable you to secure new business easily and if you are an employee, to create strong professional networks. After all, businesses find work through fellow businesses.

The post The Benefits of Working in Shared Workspaces was first published on Coworkaholic.

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