These days, office workers are as likely to encounter an employee from another firm around the water cooler as they are to find a colleague. That’s because many companies, including large corporations, are turning to flexible, coworking office space in response to the challenges of the contemporary business climate. With workers from various firms sharing the space and infrastructure of a single office, coworking represents a common-sense solution to age-old problems. There are several reasons why major companies are turning to coworking, and they all revolve around flexibility.
Increased Flexibility in a Dynamic Era
This is an era in which things change fast. Companies must move quickly to expand into growing markets or tap a new source of talent. That’s what the flexibility that coworking provides has proven a valuable asset to many massive firms. Negotiating a lease for traditional office space takes time, money, and a significant commitment, none of which appeals to a modern company in constant flux. By signing up for a coworking agreement on short notice, a firm can get its workers into pivotal parts of the country without becoming unnecessarily entangled.
Ability to Move Quickly to a New City
In a globalized world, many companies find it advantageous to extend their footprints as widely as possible. A firm might want folks on the ground in dozens of cities, but signing leases on so much traditional office space would be time-consuming and expensive. That’s where coworking offers itself as a marvelous solution. By paying for workers to share space with employees from other firms, a global company can expand its reach at a reasonable cost.
Talent Attraction and Retention
The proliferation of mobile and remote work has created a class of professionals who have little interest in moving to a new city for the sake of a job. When talented workers won’t come to a company’s headquarters, the leadership can respond by offering positions where the talent has its source. Coworking space is perfect for setting up small teams in far-flung locations. By paying for access to a shared office, a company can create a team focused on a specific area and base that team in the geographic location with the most talented individuals in the field.
Accounting Advantages
Long-term leases on traditional office space tend to cause all sorts of accounting headaches for a firm. Even private companies are now required to list long-term leases as liabilities on their balance sheets. They can get around the issue by negotiating short-term deals for shared space. Not only will this improve the company’s general financial situation, but it will also help the leadership appeal to investors.
Ability to React to the Real Estate Market
Real estate markets tend to fluctuate wildly in response to local conditions. A long-term lease on traditional office space can leave a company stuck in a disfavorable deal. The short-term, flexible nature of coworking allows a company to respond quickly when market conditions change.
FORUM Your Workspace In Downtown Coral Gables
FORUM offers various membership levels from hot desks to private suites created to suit the needs of entrepreneurs, freelancers, startups, and enterprise businesses. Contact us today to learn more about your membership opportunities and to schedule a tour to view our space and amenities by emailing [email protected] | 305-203-5006
