Coworking spaces solve one of the biggest challenges of entrepreneurs — attracting and retaining skilled employees. This is mainly because flexible workspaces offer flexible hours, which creates a great working environment as well as networking and collaboration opportunities.
What’s more, entrepreneurs and business owners can also utilize coworking spaces as a means to finding and acquiring employees or contractors long term. By working together on a day-to-day basis in the same shared workspace, it makes it easy to keep them engaged and employed while building a solid working team.
Here are eight reasons how coworking can help business owners acquire and retain new talent.
#1 Networking & collaboration
Coworking is an excellent way to network and collaborate with others.
It helps you find the right employees or freelancers who can help you with your projects, as many people who use coworking spaces are entrepreneurial in spirit and share many attributes that are conducive to productive remote work. In fact, collaboration between professionals in coworking spaces is very common. Oftentimes, members help each other with projects, exchange business ideas, and end up working together long term.
For instance, a graphic designer can help you with Photoshop, an IT specialist can help you pick the right database infrastructure, and a videographer can help you pick the right video platform.
You can connect to any professional across a wide range of industries and complete whatever your tasks are more effectively with their support, which makes work more efficient.
#2 Learning & education
The best employees are the ones that never stop learning and improving their craft.
Coworking spaces support learning and education through hosting community events. For instance, your employees can attend a marketing event, where they can learn more about selling digital products or growing an email list, and apply the knowledge to your business.
Coworking spaces also encourage others to learn from one another. They are based on the “teach and learn” formula, and you’re surrounded by like-minded people who are ready to give you a hand.
Flexibility plays a crucial role in acquiring and maintaining new talent. One of the biggest reasons why employees leave a job is that they are overworked. Flexible hours can help you prevent that and retain your employees longer.
Flexibility also allows you to pay only for space you use, giving business owners the chance to scale at their own pace with flexible contracts. It’s great for everyone, whether you have a large team or are a self-employed freelancer.
In addition, being a member of a coworking space means you usually get built-in amenities too. This includes cleaning services and access to the kitchen, saving time on office tasks or needing to leave the office to source lunch.
It’s very cost effective, gives you more comfort, and saves tons of time.
#4 Fighting loneliness
Freelancers and self-employed entrepreneurs usually work from home all day. This can lead to loneliness and sadness, which can negatively affect health.
Coworking helps you prevent that by keeping your employees surrounded by a network of like-minded professionals. Your employees can then easily find new friends, have lunch with their colleagues, and be part of a community that becomes its own office culture.
Colleagues can also suggest useful tips that can help your employees implement new strategies. For instance, they might encourage your marketer to start an affiliate program on your site and completely smash your sales.
Without friends and colleagues around, your employees might never think of that.
Being in that type of community, where ideas are constantly being shared and people are working in collaboration, will supercharge your employees’ happiness and increase their productivity. In time, this will lead to better results for business owners.
#5 Better productivity & results
In addition to isolation, another downside to working from home is that it comes with a lot of distractions.
On the other hand, coworking can help your employees stay on track by being in an environment that stimulates productive work.
In a flexible workspace, they’ll be surrounded by hard-working people which can help inspire them to work harder and stay on task. Coworking spaces are also optimized for productivity, acting as a one-stop-shop for everything an individual needs to complete tasks, receive support, and even find quiet space to work..
As a result, being in a coworking space can enhance productivity, motivate your employees, and help you get overall better results.
#6 Better work-life balance
Work-life balance is key for retaining more employees.
In fact, 22% of employees leave jobs as a result of a work-life balance issue. Coworking has you covered on that one, too.
Oftentimes, coworking spaces include areas to work out or meditate. Your employee can then unplug whenever they need to, take a break from work and refresh, and even take a nap if they need to, which will lead to a better work-life balance.
Flexible offices are therefore ideal for optimizing the environment your employees work in and boosting retention.
#7 Faster business growth
In a coworking space, you don’t work in a boring office with the same people every day.
Instead, you meet new people, make friends, and collaborate with others on a daily basis. For instance, you can meet your new graphic designer or marketer who can catch you up on the newest digital marketing trends.
This exchange of knowledge can have a positive impact on your business growth and help you move ahead faster. There’s even a good chance you’ll find new team members and expand your business simply by coming into contact with these types of individuals at your shared office space.
#8 Getting out of the comfort zone
Getting out of your personal comfort zone is crucial to growing mentally stronger and learning how to better concentrate at work. It can also improve your social skills and increase motivation.
If you have your own team, coworking spaces can help your employees out of their comfort zones too. They will inevitably meet new people, make changes in their daily routine, and also be challenged by their peers.
Some colleagues might even encourage you to try new things, like starting a blog on your website or joining a yoga class.
For these reasons, coworking spaces are great if you want your employees to push their limits, try new things, and break out of their comfort zones.
Coworking spaces present a great opportunity to acquire and retain new talent.
They help you find dedicated people who are looking for new clients and teams to work with. Flexible offices also allow you to network and collaborate with professionals and grow your business faster.
But acquiring new talent is only half of the equation.
Coworking spaces can also help you retain your employees longer since they offer flexible hours and lead to a better work-life balance.
It’s a win-win solution for both your employees and your business.