The Top 5 Reasons Big Companies Are Embracing Coworking
With the explosion of coworking spaces across the country, there’s been a massive transformation in what it means to go to the office. Entrepreneurs and freelancers were the first to acknowledge the trend that the ideal work environment goes well beyond a comfortable desk in professionally pleasant surroundings. Now big business has taken notice of the benefits of coworking—from cost savings to the ability to leverage a built-in community of innovators.
Here at Bond Collective, we’ve designed larger suites exclusively to meet the needs of executives eager to capitalize on the multitude of benefits on offer for large companies working within an established coworking space.
“For corporations, coworking can offer a competitive edge, allowing them to tap into new products and ideas that wouldn’t have been possible inside their own offices,”
Is coworking the right solution for your company? Whether you’re looking for beautifully designed office space paired with world class amenities or flexible lease terms, we’ve broken down the top five reasons why moving to a coworking space is a smart choice.
1 - Coworking spaces save companies money
Gone are the days when price per square foot was the only measure of affordability. The cost of traditional leases and custom office build-outs can quickly multiply, often racking up unforeseen expenses.
Coworking provides a unique white label solution. New members of Bond Collective step into a space that already includes premium hospitality, community staff, enterprise-level IT solutions, security and an in-house concierge. Why waste valuable time and resources hiring and developing a support team? Instead, settle in right away and keep your focus on running your business.
Our executive suites feature a built-in executive office or conference room. Coworking spaces also provide shared common areas, lounges, kitchens, private phone booths and a variety of additional conference and meeting rooms.
2 - Coworking offers flexibility where traditional leases restrict
In a landscape full of companies who dominate the global market by staying flexible, conventional office spaces can be restrictive, especially considering that a traditional lease can often take months to negotiate—and require a commitment of five years or more. At Bond Collective, we can finalize a deal within 48 hours.
We provide flexible options, so our members can grow with us. Want to move to a larger suite? Add coworking memberships for consultants visiting on a short-term project? No problem.
We look at coworking as a plug & play experience. All infrastructure and support is included in a one-time cost.
“We recognized that growing companies often don’t have the time or the capital to commit to expensive fit-outs or long-term leases, but still want a cool place to work with the flexibility to move on when they grow.”
3 - Coworking accommodates a decentralized workforce
With the proliferation of freelancers and remote workers globally, there’s been a notable shift in the way we work. Increasingly, workers are seeking employers willing to provide innovative workplaces and larger companies are seeking opportunities to scale without increasing their real estate requirements.
Recent industry reports predict that up to thirty percent of corporate real estate portfolios will be dedicated to coworking or flexible space solutions by 2030. If you’re opening a satellite location, coworking or dedicated desk memberships can give your workers 24/7 access to everything they need to do business, without the expense of investing in an office.
Entering into American markets with a small real estate footprint has never been easier.
4 - Coworking provides access to a curated community of innovators
Harnessing the energy of coworking can enhance your company's brand image. At Bond Collective, we have built a curated community of innovators ripe with opportunities for networking—and even friendship.
Traditional leases can often sequester companies behind closed doors, and deny a community experience essential to spotting trends and leveraging outside talent. Our entire member network is connected through events, shared community culture and exclusive partnerships. Our members often collaborate, finding new audiences and markets as a result.
"As researchers who have, for years, studied how employees thrive, we were surprised to discover that people who belong to [coworking spaces] report levels of thriving that approach an average of 6 on a 7-point scale. This is at least a point higher than the average for employees who do their jobs in regular offices, and something so unheard of that we had to look at the data again.”
5 - Coworking attracts the best talent
Companies are increasingly concerned about competing for skilled workers and millennials in particular want agility and flexibility in their workplace. Technology has removed boundaries between work life and home life, and workspaces that make people feel at home at work have a competitive edge.
Coworking spaces offer an inspired environment full of energized peers and can often mean the difference between attracting the best talent and losing out to competitors. A coworking community full of new friends, collaborators and social activities goes a long way toward creating a sense of belonging and retaining long term employees.
"Many employees are now measured by output and productivity, and not just 40 hours spent sitting at a desk. Workers and the companies for which they work are increasingly realizing that they need to provide and utilize a wide range of workplaces to accommodate an increasingly diverse workforce with very different expectations of what work is, and where and when it should happen,"
- Regus CEO Mark Dixon
The coworking revolution
"The coworking revolution is transforming real estate. Pioneered by start-ups, entrepreneurs and freelancers, a growing number of companies, large and small, are exploring how to incorporate the concept. Coworking and liquid or flexible space are fast becoming critical components of wider Corporate Real Estate (CRE) and portfolio strategy."
Here at Bond Collective, we act as a curator and facilitator to deliver a premium experience and turnkey solution. We’re thrilled to be a part of a new revolution in office spaces that allows our members to focus on the most important areas of building their businesses—product, customers, team and scaling. Learn more about our larger suite offerings today.
About the Author:
Joining the team as our Community Developer in 2016, Devin Herd hails from South Africa where his career embodied the entrepreneurial spirit having demonstrated a versatile skill-set across various technical and management roles both in the commercial and nonprofit sectors. Before moving to New York he successfully co-founded three businesses and served on the boards of both Afrikaburn and Greenpop.org. Join him for a coffee at any of our four locations for a personalized consultation to discuss how the Bond Collective can benefit your company.