Why Are Big Corporations Moving Into Coworking Spaces

Coworking spaces were introduced as a result of bridging the gap between working from home and investing in an office space for young creatives, startups, and freelancers. Most importantly it has been performing as a workspace option predominantly aimed at the gig economy. However, this trend is gradually taking over large corporations as of late 2021, 40% of flexible workspace demand is forecasted to arise from large corporations. While this demand partially had an influence from the pandemic outbreak and the new normal working conditions, here are some other reasons why big companies are opting for coworking spaces as the ideal workspace solution. 

Cost-Effectiveness

The recent pandemic and the global economic recession has put a lot of financial stress on organisations. Coworking spaces are helping large-scale companies alleviate this financial burden by eliminating the need to invest in expensive real estate for permanent office spaces or entering long and costly office rental leases. On average, big corporations are expected to save at least 40% on their office space when they choose a coworking space compared to a traditional office space. 

Unlock Access To Innovators And Investors

Innovation is a key criteria that helps large companies grow, survive in the market, and attract top talent. As co-working spaces give easy access to entrepreneurs, start-ups and freelancers, it gives big corporations an instrumental environment to build networks and connections with individuals who can offer innovative ideas. At the same time, it also allows these businesses to attain profitable and innovative business proposals and investment pitches from a new pool of emerging startups and entrepreneurs.

Increase Productivity

2022 coworking statistics report that 70% of coworking members are healthier, 64% have improved their tendency to complete tasks on time reducing procrastination, and 68% have improved focus and attentiveness than a traditional workspace. They also have many recreational areas that coworkers can hang out at to destress themselves. Most importantly, the nature of a coworking space is bringing together individuals from different industrial backgrounds and expertise. This has made it easy for large corporate employees to reach out for help when needed and exchange knowledge, which has a tremendous impact on employee productivity. It reduces the idle time these employees would otherwise spend waiting for professional help to solve problems they encounter while working in a traditional office. Above all, employees are more likely to be more motivated when seeing other people working in a community-based environment. 

Hassle-free Growth

Large companies are constantly subject to expansion, whether it's in terms of more branches or talent acquisition. However, upscaling workspaces immediately to catch up with market demands and opportunities is time-consuming and extremely expensive. It also easily takes away the focus of big corporations from crucial decision making regarding the development of the business. Co-working spaces conveniently eliminate the need to lease an office space, purchase office supplies, equipment and furniture and whatever that is necessary to get a workspace up and running. Moreover, as coworking spaces are offered as a part of a business centre, it also has access to many other workspace solutions like meeting rooms, conference rooms and even event spaces for rent which make it extremely hassle-free for large corporations to nourish business operations and plans.