Shared coworking office spaces have become increasingly popular as businesses have started adopting flexible work models. This arrangement involves an open workplace where employees from multiple teams or companies work in a shared office space with dedicated desks, private meeting rooms, and more. Given their popularity, many individuals and businesses have started investing in coworking spaces. Those who are considering investing in coworking spaces can look into their many benefits to make an informed choice.

1. Flexibility
A common benefit of coworking spaces is that they offer a range of different office and desk layouts that businesses and workers can reserve based on individual work requirements. Since numerous individuals and teams share the space, a business can simply adjust the coworking plan to accommodate a shrinking or growing number of teammates. This way, the establishment will only pay for what it needs.

2. Community and network building
A sense of community is necessary for both the business and the employee. For instance, a coworking space will let employees interact with other like-minded individuals and those with different perspectives for a well-rounded experience. As for the business, a shared work environment will help build a network with other companies and professionals, which can boost profits in the long run.

3. Better productivity
Experts often find the most creative solutions by interacting with different people. By working in a shared space, new thoughts, processes, and unique perspectives are no longer limited to a single set of employees. Instead, the business can work with multiple teams across various fields and industries to discover ways to improve productivity. Some employees are also motivated when the people around them are productive, meaning they work efficiently and at a much faster pace.

4. Cost efficiency
A shared coworking space can address various economic factors compared to working from a dedicated office or home. A business can share resources with other establishments, such as Wi-Fi, scanners, printers, meeting rooms, and computers. So, shared space becomes more economical when the costs of a business are considered. For employees, especially freelancers, shared workspaces offer opportunities to connect with many businesses in the shared workspace, saving significant time that would otherwise be spent on job searches. Shared resources also eliminate the need to buy additional equipment; employees can use what’s available at the coworking space.

5. Change of environment
When one works from a designated office space or home, staying in the same environment daily may lead to a lack of motivation or affect productivity. So, by moving to a shared coworking space, the worker will benefit from a change of scenery, which can also be uplifting. As a result, the individual may be inspired to work and even be more creative. This will also benefit the employer, as better employee output will help boost productivity and reduce employee attrition.

6. Expansion ability
When it comes to traditional office space, one might be unable to determine the amount of space required. As a business grows, being locked into a lease could result in one needing to constantly reshuffle and rearrange the office. This can even make the space cramped and discourage employees from working there. In comparison, a coworking space allows the business to expand if needed and pay only for the required space. This will help the business rightsize the space and manage out-of-pocket costs. Moreover, offering adequate space can boost employee satisfaction by providing ample desk space to everyone, contributing to a more comfortable and productive work environment.

7. Improved legitimacy
A massive benefit of a shared coworking space is that it can provide a legitimate business address in an attractive area, eliminating the high price tag of a city-center office space. Having an office address instead of a home address helps the business promote itself as legitimate and build its network. For an employee, the coworking space will offer a sense of professionalism and credibility. For example, having an office with a registered address can hold more value than not having an official address at all. It helps convey a sense of professionalism and commitment to the job.

These are just a few of the benefits shared workspaces offer businesses and workers. But there are other aspects of a coworking space to consider before renting it out. So, only after careful and thorough research should one pick a coworking environment. If one is unsure whether or not they require a shared coworking space, consult individuals who have rented the space to understand how the arrangement works. Moreover, speaking to the business that runs the coworking environment may also help with the decision.