The Benefits of a Shared Office Space, Explained

Rows of corporate workspaces

Some 10.5 million Australians have reported a change in the way they work since the beginning of the pandemic last year. COVID-19 has caused many hardships. One positive that has come out of it is a paradigm shift in the way companies and employers view work.

It’s likely that many of the changes COVID-19 has caused in terms of where and how employees work will become permanent. This is no bad thing.

Former outliers such as the hybrid office model, shared workspace or coworking office space will now, hopefully, begin to become the norm.

More and more businesses are beginning to have their eyes opened to the many advantages of working in an environment such as a shared office.

What is a Shared Office Space?

A shared office space refers to any commercially leased office space occupied by more than one organisation.

It can be an arrangement that the organisations strike up between themselves, for example, one business leasing out part of their office to another. It also often occurs within a serviced office space or a coworking space.

It can include private office space, open-plan offices, team spaces, private meeting rooms, or a myriad of other types of working setups.

What Type of Workplaces Exist in a Shared Office?

Hotdesking and coworking are buzzwords that have come into the lexicon of workplaces recently. But what do they mean? What’s the difference, and how do they relate to shared office spaces?

Hotdesking refers to unassigned desks within a workspace. Employees find a seat wherever they are comfortable and often end up working from a different desk each day. This type of seating is designed to maximise space and time efficiency.

A coworking space is a name for any workspace that is shared by workers from different companies and industries. These workers may have assigned areas within a specific space, or work on an ad hoc basis, as is seen with hot desking. 

Shared office space can feature both hotdesking and coworking members. Or it may be a space shared by two or more different organisations, each with its own specific area. 

Who Is a Shared Office Space For?

So, what are some of the different types of organisations that may be suited to a shared office environment? The short answer is any that appreciates the lower costs and many benefits involved. The longer answer is there are a number of specific cases in which this is an ideal set up for an organisation.

Commercial or corporate businesses that have downsized due to the COVID-19 pandemic, and have found that their current space no longer suits their situation. Start-ups and scale-ups where staffing and space requirements change on a daily basis. Overseas organisations that are opening a new branch and want to get a feel for the local area, the list goes on and on.

The Benefits of a Shared Workplace

The common thread that runs through all of these spaces is a sense of openness, community, and collaboration. Aside from the synergistic possibilities, many of the benefits are practical in nature.

Creative Collaboration

As the heads of some of the world’s biggest companies already know, collaboration and diversity breed creativity and innovation.

This is one of the biggest and best fringe benefits of working in a shared office space. The ability to meet, converse with and bounce ideas off people who have experiences and ideas that are different from your own.

Easy Scalability

One of the more practical benefits of a shared workplace is the flexibility it offers. In the fast-paced world of start-ups and new businesses, teams are constantly changing and growing. With them, a company’s space and office needs.

The space that suits your team now could be too big or too small in six months time. Companies grow and change direction all the time. A shared office space gives you the room you need to easily scale your business in whatever direction you choose, however quickly you need to do so.

State of the Art Spaces

Access to top-of-the-range real estate in vibrant, creative and entrepreneurial neighbourhoods is something that normally comes at a premium price. Through shared office spaces, your company can achieve this and more without breaking the bank.

For many businesses in a period of uncertainty or transition, this is one of the biggest benefits of shared office space.

Fully Serviced Facilities

With shared office space, you’re not only gaining a workspace and range of facilities. You’re also benefiting from the many services offered there. Depending on the workspace, this could mean any number of handy and helpful extras.

From round the clock cleaning, so you never have to take out the bins again, to a front desk receptionist to assist you with any queries you may have, shared working spaces are indeed spaces, but they’re also so much more. Coworking spaces take care of these necessities so that you can better focus on what you’re there to do: innovative and creative work.

Cost-Effective Office Solutions

From a purely practical standpoint, shared office spaces are superior to traditional office spaces in that they offer far greater value for money. For companies who are too small to fill an entire office, or too new to commit to a two-year lease, shared office spaces offer the perfect solution.

As our article on the costs of co-working clearly shows, when everything is taken into account, and a comprehensive cost comparison is carried out, a shared office space will generally work out much cheaper compared to a permanent office rental.

In fact, in a typical situation, savings on upfront costs of almost $20,000 can be expected, while savings on ongoing costs are estimated at around $6,500, but could come out much higher depending on the individual case.

Pay only for the facilities and space you need. Forget about contracts and financial entanglements and get a workplace you love without the commitment, hassle and expense of a permanent office building.

Shared Office Spaces: The Future of Work

As the employment and economic landscapes continue to evolve and react to major world events, more flexible workspaces are required to facilitate these changes. Shared office space offers the support, adaptability, and sense of community needed for startups and small businesses to weather any storm and thrive no matter what the world throws at them.

If you’d like to learn more about our coworking spaces book a tour today.

David Thomas
Graduating as a Computer Scientist from Monash University and later qualifications in International Business and Marketing, David Thomas joined Hewlett-Packard as a Researcher. Cofounding Australia's first .com (OSA), the company became Australia's largest exporter of software in the early 90s and the creator of one of the first Internet Banking Systems (Deutsche Bank AG). As Cofounder of LaunchPad, he specialises in business impact and helping member organisations grow.
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