Coworking spaces have become increasingly popular in recent years, and if you’re a manager or a business owner, they can also offer major financial benefits. Renting space for your team at a coworking office typically costs less than renting traditional office space due to greater lease term flexibility.
That said, it’s understandable if you’re concerned about the potential impact of a coworking space on employee engagement, even if you have a proven performance management system currently in place. The following information will put to ease some of your concerns helping you better understand how such an environment will positively impact engagement levels among your workers.
Few Factors to Consider
Before we delve into the benefits of coworking spaces, it is worth mentioning that it may not always be the ideal setup needed. For instance, you do not have the opportunity to choose how your office is designed and decorated when you choose a coworking space. This might be a drawback if you wanted to design your office to highlight internal branding.
You’re also relying on an outside party to maintain the technology and tools at your disposal. If the printer is down in your own office, you can exercise greater control over how and when it gets repaired. That may not be an option at a coworking office.
However, it is believed that the benefits of coworking spaces could outweigh the disadvantages raised above. Read on for the following benefits that it offers.
Benefit #1: The Value of Flexible Work Arrangements
Today’s workers crave flexibility. They enjoy completing tasks according to their own schedules, instead of arriving at the office and leaving work at the same time every single day.
This isn’t merely a theory. A recent study of Indian IT professionals revealed that organizations that provide employees with flexible work arrangements see greater levels of engagement. Additionally, Gallup research indicates that workers whose employers offer FWAs are 43% less likely than others to experience burnout.