Co-working office spaces are the industry standard for modern offices. Fueled by demand for digital-centric offices and accelerated by the pandemic, co-working spaces are here to stay. This write-up analyzes why employees in co-working spaces output more productivity than their traditional office counterparts.
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What are co-working spaces?
Co-working spaces or shared office spaces are real estate offices set aside for businesses to lease. The stark difference between traditional offices and shared spaces is that shared spaces combine workers from different firms enabling cost-sharing, which individually drives down the overhead cost of each organisation.
It is estimated that by 2030, 30 % of offices in the real estate workspace will be shared spaces on a lease basis. Co-working spaces infuse hospitality into traditional office models while being technology receptive which means businesses will inevitably shift to shared office spaces sooner than later.
- Improved networking
Shared office spaces combine a talent pool from diverse fields into one local hub. Say you are a frontend developer; you will have a backend developer who will provide much-needed perspective into your website and app development process.
The symbiotic relationships formed between experts from different fields form a network that is the anchor for much success. In recent times co-working spaces with improved productivity have been termed “success spaces.”
- Increased competition
Similarly, interactions highlight what others are doing better than you. You can keep tabs on your competitors if it’s a shared office in the same niche, say real estate.
Your employees can identify their marketing strategy, business offerings, and customer service experience that you can better. In the end, you are providing training to your employees for free. They …