What are the benefits for employees in a coworking space?

What are the benefits for employees in a coworking space?

“Coworking spaces will become even more important and more popular in the post-pandemic world, not just for entrepreneurs and freelancers (the stereotypical users of coworking spaces), but especially for large companies,” writes Travis Howell in an article for the MIT Sloan Management Review

Buffer’s 2022 State Of Remote Work report echoes this sentiment. Of the 2,000 remote workers who took part in Buffer’s survey, 41% said they would prefer to primarily work from multiple locations, like a coworking space, if the pandemic were to end today. 

Just over half (52%) of Buffer’s respondents were employees, while 42% described themselves as independent consultants or freelancers. It’s clear that coworking’s influence extends way beyond the sphere of the self-employed, with an increasing proportion of the world’s employees experiencing the benefits it has to offer.


Source: 2022 State of Remote Work, Buffer

The rise of the coworking stipend

Big business coworking is nothing new, but since 2020 it has been gaining momentum. 

Take Spotify, for instance. In response to its employee survey, and to give staff the “perfect balance of flexibility, employment security and job fulfilment”, it let its workforce work from wherever they want - including from home, HQs or a coworking space. 

This approach proved successful from a staff retention perspective. In fact, Spotify reported a 15% decrease in attrition rates compared with 2019.

Speaking to Insider, Spotify’s Head of Diversity, Inclusion and Belonging, Travis Robinson, said: “this is an opportunity to scrap the idea that big cities are the only places where meaningful work can happen because we know firsthand that isn’t true.”

Tech giants aside, SMEs are also getting on board. 

Owl Labs, which employs around 50 people, provides its employees with a stipend that can be used towards a membership at a coworking space of their choosing. Coworking stipends can help small-to-medium businesses cut down on their real estate costs and avoid getting tied into longer-term office leases. 

Spotify isn’t the only business letting its employees ‘work from anywhere’. 

10 reasons why coworking benefits employees

1. It’s a change of scene

A change is as good as a rest, as the proverb goes. New environments can help spark inspiration and nurture new ideas. In other words, physically getting employees out of the box (i.e. their home) can get them thinking outside of the box too.

Owl Labs conducted a survey to find out how its employees work in different environments. The percentage of workers who say they’re more productive doing these activities in coworking space, as opposed to in the office or remote, are as follows:

  • Collaboration: 26%

  • Getting consensus: 24%

  • Brainstorming: 22%

  • Team meetings: 21%

  • Managing others: 20%

  • Meeting new people: 20%

  • Learning: 17%

  • Creative thinking: 17%

2. Clients love it too

Coworking spaces tend to be more laid back than corporate offices – and more fun. 

But they’re also kitted out with exemplary meeting rooms, the latest business amenities and new technology, making them hives of productivity and appealing to clients. Good first impressions count, especially when competition is rife and budgets are tight.

3. It encourages collaborative and creative thinking

An article for Harvard Business Review highlights how successful communication can be driven by the following three factors, all of which coworking can help facilitate:

  • Engagement, where employees collaborate within their team 

  • Exploration, where employees collaborate with people outside their team

  • Energy, where employees collaborate with and draw inspiration from both groups

Brainstorming over video in an under-heated or cramped home isn’t the same as meeting colleagues in a comfortable work environment that has been specially designed to support collaboration. Over a cup of nice coffee!

4. It alleviates loneliness

Some people are more productive when working from home. Others are at the top of their game when they’re in the office, or splitting their time between the two.

Either way, working from home every single day can be isolating. In 2022, James Rice, an SEO and Growth Marketing Professional, shared his biggest remote working challenges with Clockify. Loneliness was one of them. 

His advice was to “try a coworking space and interact with people online or in person, and “try to get together with your colleagues face-to-face as much as possible and participate in video conferences.” Coworking spaces are set up to support those organic interactions and shared experiences that can be so good for our mental wellbeing.

5. There’s minimal ‘downtime’

Home WiFi can be unpredictable. But employees tend to experience less ‘downtime’ in coworking spaces that are wired with superfast WiFi. In fact, coworking spaces provide many of the tools the average desk-based employee needs to succeed, from reliable internet, meeting rooms and printing facilities, to snacks and coffee.

6. It’s cost-effective

Coworking spaces can benefit employers and employees monetarily too. Here are some of the ways coworking can cut costs for both parties.

Employers:

  • Smaller deposit

  • Zero maintenance or dilapidation costs

  • Everything included in the rent (utilities, cleaning, internet, etc.)

Employees:

  • Money saved on commute

  • No need to heat home during work hours

  • Free tea, coffee and biscuits!

7. It’s 24/7

Most coworking spaces are accessible 24/7 to full-time members (of course, we’d never condone anyone actually working in a coworking space 24/7). This means that as long as their employer agrees, the employee can choose working hours that suit their homelife,  safe in the knowledge that they have a  comfortable space to work in. 

8. It supports learning 

According to findings from a GCUC survey, 69% of coworkers said working in a coworking space enabled them to learn new skills while 68% found that they improved their existing skills after joining one. Employees in coworking spaces can practise the skills they gain in their work, helping their employer’s business to thrive and grow. 

9. It drives job satisfaction

Research by Zoro shows that 72% of professionals think having more work benefits would increase their job satisfaction. Meanwhile, FlexJobs data reveals that 83% of millennials think work-life balance is the most important factor when evaluating a potential job. 

A dedicated workplace, as we know, can help people establish a better work-life balance because it helps to keep work out of the home environment. Coworking memberships also come with a range of perks, from local discounts to regular social events. 

10. It’s non-committal 

With monthly rolling contracts available, coworking requires little commitment from employers and employees alike. So, if an employee needs to work from home for a couple of months due to a family situation, they can do so and return to their chosen coworking space when they’re ready. Likewise, if the employer’s coworking budget runs out, they can pause their membership stipends until they source the funding. 


Subscribe to receive our latest content and news directly to your inbox

Related stories

  • How to add value to your community without breaking the bank

    How to add value to your community without breaking the bank

    For coworking and flexible workspace operators, adding value to the community is a major key to success. At a time when costs are rising at unprecedented rates, how can you add this value without breaking the bank? Well, Marc Navarro is here to let us know...

  • Coworking Spaces: Do they need to have a vision behind them?

    Coworking Spaces: Do they need to have a vision behind them?

    When one looks at various coworking spaces in the sector, how often do you see their marketing focus on a grand vision? It can lead you to think it is a requirement of any workspace wanting to stand out from the crowd. Well, this is the question we look to answer today - how important is it really to have a "vision" for your coworking or flexible workspace?

  • What is the coworking capital of the world?

    What is the coworking capital of the world?

    Coworking has been on the rise for years now, which comes as no surprise to those of us in the industry. It can be useful sometimes to stop and take stock of where exactly the industry is at - so read this article to discover the world's top coworking cities.

  • Putting together the best team to run your workspace

    Putting together the best team to run your workspace

    At the heart of any successful coworking or flexible workspace is a top class operational team, but how you go about putting that team together can be a difficult task. This article goes through all the key steps involved in recruiting you workspace's dream team.

  • Coworking trends to look out for in 2023

    Coworking trends to look out for in 2023

    As we make our way to the end of the year, the trends that look set to take hold in 2023 are becoming more clear. Take a look at this article to see for yourself some of the issues that may well be influential in the coworking and flexible workspace market next year.

  • 10 things to consider before choosing coworking space management software

    10 things to consider before choosing coworking space management software

    Effective coworking management requires an abundance of drive, tip top organisational skills – and the right coworking software. But with various options to choose from, how do you make sure you select the best software solution for your business?

  • Coworking management system – are you ready to transform your workspace?

    Coworking management system – are you ready to transform your workspace?

    Being able to automate daily tasks can really transform the way your workspace runs. In this article we take a look at how revolutionary a good workspace management software can be for operators.

  • What is coworking software and what can it do?

    What is coworking software and what can it do?

    For those new to the coworking and flex workspace industry, getting to grips with managing a busy and growing workspace can be a difficult task. Fortunately, coworking software like Nexudus can automate many essential daily tasks, making life much easier for operators.

  • Webinar: Protecting your Nexudus account with User Roles & 2FA

    Webinar: Protecting your Nexudus account with User Roles & 2FA

    We have another free webinar coming your way next week, and this one is all about how you can ensure your Nexudus account is as secure as possible.

  • How coworking and flex workspaces can cope with inflation

    How coworking and flex workspaces can cope with inflation

    As the world continues to grapple with a wide range of issues, the inflation that much of the world is experiencing is a particular concern to the coworking and flex workspace industry. Read this article for Marc Navarro's insights into how coworking and flex workspaces can cope with rising inflation.