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Benefits Of A Collaborative Workspace

Flexible workspaces are a great way to increase productivity and value your bottom line, regardless of the size of your company.

Since the beginning of the decade, collaborative workspaces have seen a rise in popularity. This is especially true for the last year. According to CBRE research, Manhattan’s scale of collaborative workspaces grew by almost 70% in 2018, from 9.4 million square footage in 2017 to 13.5million square feet in 2018. It’s not a new trend. Flexible spaces are increasing in cities all over the globe.

Why is there such a sudden increase? Collaboration workspaces are becoming increasingly popular among companies of all sizes. Collaborative workspaces can be a boon for solo entrepreneurs or Fortune 500 executives.

What’s a collaborative workspace?

Collaborative workspaces allow employees from different companies to work together in one office. There are many sizes of companies that can share a collaborative workspace, from small startups to large corporations. It usually includes a mix of private offices as well as shared common areas that enable employees to be flexible throughout their workday.

Important: Working in a collaborative space does not necessarily mean your employees will work in the same coworking area as other companies. Your company will most likely have its own office or even multiple floors. They will still be able to access beautiful common areas and top-of the-line amenities which can provide immense value for your business.

The benefits of collaboration workspaces

No matter how big or small your company, take a look at what collaborative workspaces can do for your employees and your bottom line.

Ability to move at the speed and convenience of business

agility has become a necessity in today’s fast-moving environment. Your real estate needs must be met in order to move quickly. This could mean opening an innovation laboratory for a moonshot, setting up satellite offices, or finding larger space to support a growing team. You can achieve this agility by creating collaborative workspaces. You can grow your business and hire more people without the need to sign long-term leases in traditional buildings. You can easily change the size or location of your team with a collaborative space.

2. Quick setup and easy move-in

You don’t have to go through a long and stressful moving process when you join a co-working space. There is no need to bring or purchase desks or chairs. Wi-Fi speeds are fast, printers are fully charged, and phones are ready for use. The operational tasks that used to take weeks of team effort have been solved by signing up for collaborative space. Your employees and you can simply come in to get to work.

3. Prime locations for office space

Prime real estate can be expensive and difficult to find. However, to attract and keep talent, companies must locate their offices in centrally-located areas near other businesses, transport, shops, restaurants, and transportation. The buildings must also be modern, bright, and clean.

Collaboration workspaces allow you to access more expensive, in-demand space in prime locations. This is a great way to save money on renting a space. Many collaborative workspaces are located near financial districts or business districts. These workspaces allow you to open an office quickly with no need for costly construction or sourcing.

4. Cost-efficiency

In many cases, collaborative spaces can be a cost-saving tool that allows you to only pay what you use. Renting a full-floor office for your regional headquarters would be a waste of space and cost. You can give them a dedicated workspace but only pay for what they use. You can add space easily as your team grows.

5. Scalability

Growth is the primary goal of any company, regardless of its size. Collaborative workspaces can help you scale. How to build a team in a test marketplace? Go on a hiring spree to find the right people for your division. Expanding your business to new areas in the world within a year? Providing a place for teams to collaborate allows you to provide them with an inspiring environment to work together.

6. All-inclusive amenities

Renting an office means you will have to pay for utilities, office supplies, and other amenities. You also need to hire an office manager and support staff. In a shared workspace, utilities such as water, gas, electricity, and Wi-Fi are included. Many also provide other amenities such as coffee, tea, kitchen supplies, and printing.

7. A community concierge

A team of people can help you in a collaborative workspace. You can contact the community team if you have any questions about the space, technology, or amenities.

8. Tech-enabled workplace

It can be time-consuming and costly to set up the IT infrastructure for an office. This requires the involvement of many vendors and teams. A collaborative workspace includes all technology: Wi-Fi high-speed and secure; video conference rooms; security badges that allow you to swipe into the space; outlets for charging up.

9. Space designed to allow employees to do their best work

The workplace has become more human-centric over the last few years. Companies are now providing workspaces that fit the needs of their employees, rather than expecting them to work eight hours per day in a cubicle. Many collaborative spaces are designed for activity-based. Employees can use phone booths to make calls or focus on a project. You can also have informal meetings at café-style tables. There are also couches and other soft seating options for those who prefer to work in an informal setting. Employees having the freedom to work where and when they want can lead to higher productivity and better work quality.

10. Opportunities for networking

Employees can still use the common areas of the building, even if they have their own office or floor in a collaborative workspace. They can network with other people, entrepreneurs, and remote workers. This can lead to a lot of creativity and knowledge. Many global companies place teams in collaboration spaces to absorb innovative ideas and new knowledge from people outside their networks.

11. Your company’s culture is reflected in the space

Although a collaborative workspace is designed to allow employees to do their best work, it’s still your space. There are many ways to make your office reflect your company, depending on its size. You can decorate the space with your artwork or bring your own lamps and rugs. You can incorporate your logo and company colors into a private room so that it feels unique.

12.Your company will have stronger employee relationships

Ever wonder if your company’s culture might be affected by a collaborative environment? It’s a question that workplace strategists have been asking. Researchers from the University of Michigan’s Stephen M. Ross School of Business discovered that employees identify more with their company’s culture and values than those who work in a collaborative environment. The study also showed that employees perceive the company better when they work in a shared space.

These are just some of the many benefits that collaborative workspaces provide companies. Flexible workspaces are becoming more popular in companies’ portfolios. They can be leveraged to increase their business.

This post was written by Tara Kintz. Tara is a director at Signature Workspace which is a Virtual Office Tampa. Signature Workspace, owned and operated by Cantor Fund Management, offers services and amenities such as private offices, flex space, co-working space, virtual offices, meeting/conference rooms, and more.