For generations, professionals worldwide have commuted to offices for work. As the business world evolves, workplaces change. Isolated office cubicles have transformed into open-plan floors where collaboration is encouraged. High-tech coffee machines, ping-pong tables, and comfy couches have become common amenities in new-age workplaces.
As many professionals got accustomed to working from home, business owners and employees pondered the future of office working, says IWG, a global leader in hybrid work solutions and workspace brands.
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Since the Covid-19 pandemic and the subsequent lockdowns, many companies have reconsidered their office operating policies to control overhead costs in times of uncertainty. Now, most companies have returned to the office, whether that is on a full-time basis or a flexible hybrid model, which allows staff to divide their working days between working in the office and at home.
A coworking space allows you to work among other professionals across different industries. For example, a marketing agency could work alongside creative freelancers and sole trader start-ups in a shared office space in a coworking space.
On the other hand, traditional office space is located in an area exclusive to your business. Both office types offer excellent benefits and appeal to different types of businesses.
When choosing the right office for your business, consider whether a traditional or coworking option is more suitable for your team. Considering the pros and cons of a coworking space vs traditional office space is essential. There are many factors to consider when deciding on the right choice for your business, so follow our guide to make a more informed decision.
What are the advantages of a traditional office?
1. Company culture
You have your own private office space to build and develop your ideal company culture. You can design the space to complement your brand and pay close attention to detail. From table tennis to the type of coffee machine, you can work to shape the company culture that you want to reflect your business. This closed environment is built around your company’s values, with no potential for your unique culture to dilute when all areas of your team are working in different places.
2. Flexibility
In a traditional office environment, businesses have complete control over the space. You get to choose the opening hours, the level of security, and the amenities you offer your staff. Some companies like to keep it simple and cost-effective, and others want to treat their staff to an on-site gym and ergonomic office furniture.
3. Privacy
Traditional office environments create a private space for your teams to work in and discuss sensitive or confidential topics. In a private office exclusive to your company, you can openly share ideas and plans without worrying about competitors or other people listening in. You also get exclusive use of important facilities such as conference rooms and meeting rooms.
4. Wide variety of office choices
When renting a traditional office space for your business, you are open to more than the coworking options in your preferred town or city. In most areas, you will have many choices when it comes to available buildings and locations.
Cons of a traditional office space
1. Office management
Running a fully functioning workspace is no walk in the park. If you choose to have a traditional workspace, you will likely need to hire an office manager and reception staff to keep your office running smoothly.
2. Fewer networking opportunities
In a traditional office, you get to meet and mingle with your coworkers on a daily basis. But meeting like-minded people from other companies and sectors proves more challenging when there’s just one company under one roof.
3. Long-term commitment to one location
A flexible workspace may suit you better if you want the freedom to move and not commit to a long-term agreement. That way, you don’t have to make decisions now about the future of your business, and you’re free to move with the needs and growth of your business.
What are the advantages of a coworking space?
1. Collaboration opportunities
Coworking spaces break down the barriers that traditional offices can have. When you opt for a coworking set-up or hot desks, you immerse yourself in a social environment. You’ll get to focus on your work, but you’ll also get the opportunity to have social interactions with others who work in different industries and professions.
2. Work-life balance
Many professionals enjoy a better work-life balance while working in a coworking space. Coworking spaces tend to have a community-inspired structure, making them more flexible than traditional workspaces and, therefore, less stressful for those working in them.
3. Ideal for the hybrid working model
Since the Covid-19 pandemic, many businesses are turning to the hybrid working model. This allows employees to split their time between working in the office and working from home. A coworking space can be the ideal set-up for companies using this model as they don’t require as much space as they did when the whole team would be working in the office daily.
Coworking memberships offer the perfect solution to businesses turning the hybrid working model. With access to lounges, coworking spaces and offices when you need them, it has always been challenging for businesses to adopt flexible working.
4. Budget-friendly
Coworking spaces can be more budget-friendly. You can rent a smaller, more affordable space within the coworking office and scale up when necessary. Most coworking spaces are serviced, meaning all costs for maintenance, bills, cleaning, and office management are included in the rental price.
Cons of a coworking space
1. Distractions
Some people prefer to work in a quiet, closed-off environment to limit distractions. Even though professionals in a coworking space surround you, some people concentrate better in their own private areas.
2. Meeting rooms
Coworking spaces offer excellent meeting rooms that give you the privacy to discuss confidential ideas. However, in most cases, you must book a meeting room or conference room in advance to ensure that it is available when needed.
3. Lack of privacy
Coworking offices are where creativity and collaboration are encouraged. However, some professionals, particularly those dealing with sensitive information and confidential work, may prefer the privacy and exclusivity that comes with a traditional office space.
Why are coworking spaces preferable to standard office spaces?
Many businesses enjoy the flexibility and freedom that comes with a coworking space. Firstly, you are not tied down to an extended leasing agreement. Secondly, you get to immerse yourself in a sociable environment that unites a diverse group of professionals.
The networking possibilities are endless. And last but not least, in a serviced coworking space, you do not have to worry about office maintenance and other management qualms, so that you can focus on the job at hand.
In the post-pandemic world, many businesses are opting for coworking spaces to deal with the quick-changing needs of their company. Renting a coworking space means you can commit to a whole office building. Instead, you can start by renting a small space and opt to expand it if your team grows or you need more employees to work from the office.
- Which is best for you? Take a look at dedicated desks in coworking spaces, private offices, and shared offices offered at Regus across many locations to find the ideal office space for your business.
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