SHOULD I MOVE MY TEAM TO A CO-WORKING SPACE?
Great question. The answer is yes, and the answer is no. It all depends on some few key questions that you should ask yourself and your team before taking the next step. In this blog we will review the pros and cons you can expect from most of the co-working spaces out there. We will provide verdict from our perspective at the end, comparing coworking spaces to a more traditional leased space.
Coworking spaces are usually short-term commitments.
That means you can move around easily if your company is growing quickly.
These types of spaces can get really small.
Why is that a good thing? Perhaps your company is opening a satellite location and you just need a temperature-controlled room with four walls, electricity, lights, and good Wi-Fi. Maybe you just want a desk or two in a shared open room. Coworking is a great option to accommodate that.
Your company can bring coworking spaces online quickly.
Literally in a matter of days or hours after you sign a contract for your spot, your team can usually move in and start using the space immediately.
Amenities at coworking spaces can be great.
Coffee and snacks on site are just some examples of this. A few coworking spaces even host happy hours and events for everyone renting. These social get togethers can be networking opportunities for your team with people outside of your company. But don’t forget, you’ll likely pay extra for these perks, while amenities in traditional buildings generally come standard.
Coworking spaces generally cost more than leased spaces per square foot.
Privacy? Probably not.
Anyone who has worked in a coworking space knows total privacy can be hard to come by. There are usually phone booths, and if you rent a whole room, you can get a little quiet time. But when you need to conduct difficult face to face conversations in a small group or one-on-one, that could be the biggest challenge.
Coworking spaces lack brand identity and soul.
There are little branding moments you can bring to your coworking space if you rent your own room or suite. But forget about painting your brand colors on the wall or getting logos installed.
The shorter-term commitment is also a drawback.
For one, it communicates to your people that you aren’t making a significant investment in your company’s physical space. If you really want to encourage remote workers back into the office for collaboration, a coworking space is a light lift. That can signal to your people that you don’t value the physical spaces they’re working in. Conversely, investing in a leased space that you properly build out with their wellness and happiness in mind sends a very different message.
Coworking spaces can be a great short-term option for a lot of companies in certain industries. Particularly, companies growing quickly and erratically. But if your growth is steady, and you’d like to make a commitment and investment in your people and the physical space in a particular market, a leased space is the way to go.
A memorable space inspired by your people is the best way to go, no matter which option you choose. You’ve got to see this HQ project we completed for a company looking at enhancing collaboration post-pandemic. Adding comfortable commercial-grade furniture, proper workstations, natural light, plants, and other wellness enhancing design elements is much easier and more comprehensive in a leased space.
STILL TRYING TO DECIDE?
Let our workspace experts help you make the next best move that supports your most valuable assets, your people. Contact our team today to get started. We love a good challenge, and we love helping others make work beautiful.