The idea of a businessperson working from a private office and having little contact with others outside of meetings is quickly falling by the wayside. By utilizing shared office space, businesses are capable of creating more agility, improving communication, and handling tasks in a much more efficient manner. Despite what many people think, shared office space doesn’t strip away an employee’s privacy, but does greatly improve the speed at which they can get things done.
When you rent shared office space, you normally have the opportunity to group multiple employees in the same area. This means that work which requires multiple people doesn’t have to move from one office to another or along the sometimes shaky lines of email communication. Instead, physical paperwork passes from one workstation to another within the shared space of the office. The physical proximity reduces busywork by cutting down on travel time between offices, allows employees to shift gears from one project to another more effectively, and eliminates the chance that paperwork might get lost in transit. Shared work space in Toronto can thus result in a noticeable improvement in productivity.
A shared office space provides the potential for employees in your business to meet with representatives from many different companies. This provides the opportunity for some great bridge building and professional networking. Somebody in the publishing industry, for example, might benefit from a shared work space in Toronto with employees of a graphic design firm. All it takes is a single conversation to get the ball rolling. The exposure to many different businesses, many of which are in the same boat as your own, leads to unexpected synergy and potential business alliances. In a commercial world where who you know is extremely important, a shared space for your office can make all the difference.
When you own your own office space, the employees you see during work hours represent only a portion of your staff. You also need to have people on your payroll who clean the trash, sweep the floors, and provide maintenance to your electronics. But when you rent shared office space, the business you rent from takes care of all those maintenance tasks. This cuts down on the amount of money you spend for services which don’t directly impact your business output. It also reduces your human resource responsibilities, since you have to provide neither salary nor fringe benefits to maintenance staff who would otherwise be on your payroll. The lower maintenance costs allow you to maximize your focus on your business deliverables.
While owning your own office space has its benefits, it also comes with a lot of financial strain and a focus on things that don’t pertain directly to your business. If you want more agility, better financial fitness, and improved workflow, creating a shared office is an excellent prospect. This is especially true for Toronto startups and small businesses that need to cut costs, as they stand to reap the biggest rewards from such an endeavor.