6 Reasons Corporations are Moving into Shared Workspaces

Coworking

The shared workspace industry is expected to balloon to 30,000 coworking spaces with five million members by 2020.

One of the big factors behind this remarkable growth in the U.S. is the movement of corporations into coworking spaces—though that move may take some time. As Emergent Research reported in the 2018-2022 Coworking Forecast:

“We…think the U.S. market will likely accelerate again in a few years due to larger corporations embracing coworking.

But we think it will take a few years for large corporations to meaningfully move to coworking. So over the next couple of years growth will be driven by coworking’s traditional customers, independent workers and startups.”

Here are six reasons corporations are moving into shared workspaces.

1. Reduce Overhead

Corporations can reduce overhead costs by moving into shared workspaces rather than leasing their own buildings. The desks, printers, meeting rooms, event space and other business amenities are provided by the workspace and there’s generally a community manager who can welcome clients and guests to the space. The coffee is also provided, the washroom supplies are included in membership and maintenance is taken care of by the shared workspace.

2. Eliminate Idle Space

With a traditional office lease, corporations may end up paying for unused space that sits idle except for the occasional meeting or influx of employees. In a shared workspace, corporations have access to meeting and conference rooms when needed. They can also customize membership plans to fit the actual space needs of their company and team.

3. Flexibility

Most shared workspaces offer month-to-month membership. This gives corporations a flexibility not found with traditional three- to five-year leases. As teams grow and shrink, companies can adjust their membership plan to fit current needs.

4. In-House Contractors

Shared workspaces are full of freelancers and independent professionals. As more corporations hire contract workers as opposed to full-time employees, they need a pool of talent to choose from. The professional networks that exist in shared workspaces offer an in-house contractor pool for companies to work with as needed.

5. Satellite Locations

Shared workspaces offer corporations an easy way to establish satellite locations for their remote teams to work and meet with clients, contractors and partners. Instead of leasing a small office in every town they need a satellite location, corporations can put team members into a shared workspace which offers the space to work and collaborate, as well as business amenities.

6. Serendipity and Collaboration

One of the great benefits of working in a shared workspace is the serendipity that happens when people from diverse backgrounds and fields with a variety of interests, experience and connections work in the same space. The opportunities for collaboration and innovation in shared workspace are endless and corporations recognize the value of these serendipitous encounters.

Cat Johnson is a writer and content strategist for the shared workspace industry. She blogs about coworking at catjohnson.co and publishes the Coworking Out Loud Newsletter. Find her on Twitter: @CatJohnson