Many startups and small companies are moving to coworking office space, where an office is shared by a number of businesses. If you're weighing your options and considering a coworking arrangement, there are some key benefits and potential drawbacks to sharing office space that you should be aware of.
Benefits of Coworking Office Space
1. Networking Opportunity
In coworking spaces, you'll have a chance to encounter individuals who work for a wide range of companies. This gives you the potential to meet new suppliers, vendors and customers and also opens the door to obtaining business referrals.
2. Special Amenities
Coworking office spaces also offer perks and services to attract companies. Some places provide breakfasts, snacks and coffee for free. Others have restaurants, coffee shops and bars onsite. You'll even find coworking office spaces with on-site gyms and stores.
3. Cost Savings
With a coworking office space, you may be able to eliminate some of the expenses you would otherwise be responsible for with a traditional office lease. Cleaning services may be included with your agreement, and the space may come furnished and complete with office equipment.
4. Flexibility
Typically, with coworking office spaces, you won't be locked into a long-term lease. Many spaces feature multiple plans, giving you the opportunity to reserve exactly what you require whether it's private offices or common area space. Plus, you can often easily expand or reduce the number of employees that you are paying for from month to month.
Drawbacks of Coworking Office Space
1. Potential for Distractions
Sharing an office with others could cause distractions and disruptions for your employees. You may have to monitor your team more closely to ensure that they are staying on task and maintaining productivity in a shared office.
2. Employee Turnover
In a shared office, there is always the potential that managers from other companies may spot your most talented employees and attempt to lure them away. Employees are able to enjoy the same working environment at a higher rate of pay or with new responsibilities.
3. More Missed Work Days
Shared office spaces mean working around more people than just your employees, and this means more exposure to germs. You may find that your team becomes ill more often and requires more time off of work.
4. Lack of Privacy
In many shared offices, it can be difficult to find a private place to conduct meetings and make phone calls. This can make it difficult to discuss confidential or private information with your team and for employees in areas like human resources and legal to complete their daily tasks.
5. Less Control
With a shared office, you don't have the same level of control over your environment that you do with a conventional office lease. Everything from the temperature of the thermostat to the decor of the office to the type of lighting will usually be decided by the space manager rather than you and your employees. Depending on how open the manager is to suggestions, this could mean that you're dissatisfied with your work environment.
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