As an entrepreneur, you need to be on the lookout for every advantage you can, to not only make your life easier but also grow your business for the future.
Businesses are constantly evolving and doing all they can to stay competitive, which includes shedding unnecessary costs, re-thinking processes and systems, and focusing energy on the most critical tasks and customers.
Shared office spaces provide you with a tool to mitigate overhead costs so you can focus your energy (and finances) on growth, while also establishing a roster of behaviours that will help you future-proof your business.
Scalable Office Space For Future Needs
One of the most attractive things about shared office spaces is the ability to expand or contract your office needs as business dictates. Need to bring in new staff temporarily to complete an important project? No problem! Just rent some additional space. If you owned or leased your workspace, you may or may not have enough space to accommodate new hires, and doing so would require a significant financial commitment to make it happen. On top of that, you’ll have to buy furniture and workstations that might not be in your budget. Shared offices spaces solve these issues by providing you with a scalable option at an affordable rate that’s dictated by the growth of your business, not by your working environment.
If you need more desks, more conference space, or more floor space, a shared workspace is an easy solution to what would otherwise be an expensive and time-consuming process.
Staying On Top Of Technology
Technology changes rapidly. And staying on top of it can be expensive. It’s easy to get excited about a specific product only to realize a few months later that it’s not as useful as you’d hoped, putting a big dent in your bank account and leaving something sitting in the corner of your office collecting dust. Or maybe you purchased an expensive video conferencing software you thought would change the way your business communicates with employees and customers, but it hasn’t worked out. You’re still out thousands of dollars, which could have instead been used to fuel your growth, not hinder it.
One of the many advantages of shared offices spaces is that they provide customers with an opportunity to share technology costs. Perhaps more importantly, there’s an expert on staff able to maintain the equipment that saves you valuable time and potential IT-related headaches. Equipment that malfunctions, when you need it most, can eat up precious time and embarrass you in front of clients. Shared office spaces help you mitigate these situations by providing the technology you need, when you need it most, at a cost that’s built into your rental fee.
Providing A Human Touch
The most important relationships any company can have are those with their key clients. In an era of increasing automation and technology, it can be easy to forget that human touch helps you forge those relationships. How many people enjoy an automated phone answering service, having to navigate virtual menus to find what you want, and spend time on hold waiting for someone – anyone! – to answer? Nobody. Shared office spaces, such as Agile Offices, offer virtual assistant, phone answering and on-site receptionists that can deliver that human touch for you.
It can also help your key employees stay focused and avoid interrupting their workflow with administrative tasks.
A Flexible Working Environment
Coworking and shared spaces mean a flexible environment in more than just physical
space. It can be reconfigured quickly for specific needs and changed as your needs evolve.
In a shared office environment, you’ll occasionally bump into other people that share the space, and likely have much in common with you. Leverage these opportunities to establish relationships with potential partners in the future.
Some of the best and most productive conversations happen at random —at a colleague’s desk or the coffee machine. Shared office spaces can increase the frequency that you’ll run into these situations because there’s always new people to meet.
Use Your Environment to Attract Top Talent
Today’s employees want work environments that are progressive and flexible. Businesses that are developing an innovative product or service in an environment that’s designed to be flexible and encourages collaboration are in an excellent position to attract the top talent they need to drive growth. After all, “happy employees are productive employees.” A study by Gallup and the Queens School of Business determined that unhappy workers have average productivity 18% lower than their happier counterparts. Also, they suffer from these less-than-desirable traits:
- 37% higher rates of absenteeism
- 49% more on-the-job accidents
- 60% more errors or defects
- 50% higher voluntary turnover
Perhaps most importantly, companies with unengaged employees tended to have 16% lower profits and a 65% lower share price over time.
Happier, more engaged employees, saw the exact opposite. Not only that, a quality work environment, coupled with the right management, saw a 100% increase in job applications.
What’s more important to future proof your business than recruiting, managing, and retaining your best employees led by an office environment that’s collaborative and forward thinking?
The quality of your workplace is a critical factor for Millennials when they’re considering a job. The majority of them prefer a collaborative work culture. Shared office spaces allow for that through flexibility.
Two-thirds of Millennials say they like to have flexible work hours and want the ability to work from home or out of the office. If working from home, or remotely, is a possibility, sharing office space makes it that much easier. If you’re locked into an office lease or already own the property, you’d be paying for space that’s not always being used. In a shared office arrangement, you’re only ever paying for what you need, when you need it.
Leverage Flexibility to Future-Proof Your Business
Shared office spaces provide the ultimate in workspace flexibility, allowing you to scale and future-proof your business based on the needs of your business, no matter its size. With flexible office space, advanced technology, and a quality work environment shared offices help you not only mitigate costs and manage administrative tasks but help you focus on your growth and attracting (and retaining) the best talent.