3 Benefits of Coworking Spaces for Businesses
What’s the likelihood that a typical person in Singapore has heard of the term “coworking space?” In the past couple of years alone, coworking spaces have had a big impact on Singapore’s office landscape. Nonetheless, coworking spaces are often still conceived as just a millennial fad, despite the crucial benefits of coworking spaces for businesses.
There is definitely more to coworking than what meets the eye. Not only do they offer convenience for businesses looking for a quick setup, but they also add value to the experience of their members that goes above and beyond workspace. In this article, we’ll walk you through 3 ways that coworking spaces can make a difference to the people who work there.
1. Sense of Community
A coworking space is more than just a shared office space. Individuals and businesses of different industries get to work in the same environment, potentially forging close-knitted relationships that would otherwise be impossible in the traditional office cubicle setup.
Afterall, it is not easy to ignore each other’s existence if you work under the same roof, share the same row of work desks, or bump into each other in the pantry.
As we all know the power of networking, relevant workshops and community events organised at co-working spaces act as catalysts for interaction, allowing members to share knowledge, ideas, as well as bond after office hours.
But how do you know if you are at a space with a strong sense of community? What kind of space makes a difference? You’ll know that you’re in a right one when a fellow member buys a box of ice cream to share with the rest of the community (just like what happened one day at The Carrot Patch).
Just like an old African Proverb goes, “If you want to go quickly, go alone. If you want to go far, go together.” Coworking spaces exemplify this mantra perfectly.
2. Balancing work and play
Many of us are drowned in our work and we tend to forget the importance of having personal and leisure time. Having a good work-life balance helps to prevent burnout and increase productivity. Participating in entertainment outside of work allows one to reduce stress and enjoy the other aspects in life.
Don’t you feel that the 9-5 grind is too mundane every day? Life is not just about work. Allow yourself to keep it interesting and purposeful. If you are feeling guilty about indulging in too much fun, check out the research on how playing hard helps us with working hard.
Coworking spaces like The Carrot Patch create an impact on their members by making them understand the importance of work-life balance. Their main goal is cultivating a smart community where industry veterans, budding entrepreneurs and working professionals can come together in a work hard, play hard atmosphere.
3. Boosting productivity without breaking the bank
When individuals or businesses have a conducive environment to work at, productivity levels increase due to fewer distractions.
Think about working at a coffee shop or café. Having a coworking space to work at will boost your efficiency, providing all the necessities you need to get your work done. No need to trouble yourself with finding power outlets to charge your devices or a printing shop nearby just to print your documents.
Research has also shown that taking breaks can increase a person’s ability to focus, and in turn, boost productivity. In fact, a study conducted by the University of Illinois at Urbana-Champaign found that hourly breaks lead to better performance at tasks that require concentration. With comfortable breakout areas at coworking spaces, individuals will be able to take breaks as if they were in the comfort of their homes.
Free-flow artisan coffee and tea provided at shared pantry spaces also help members looking for a quick and fuss-free caffeine fix.
Lastly, it’s important to consider the costs of working at home or a café versus a coworking space. Many argue that it is more costly to work at the latter. Coworking spaces that won’t break your wallet can start from as low as $25 for a day pass, and only $220 for a monthly hot desk. Convenience doesn’t have to be costly!
Ultmiately, these are just a few points that highlight how co-working spaces make a difference. If you are keen to find out more, start your research on the different coworking spaces in Singapore and become a part of the future of workspace.
Guest post by: The Carrot Patch. The Carrot Patch is a pocket-friendly co-working space located within the Henderson precinct, focusing on the technology and Artificial Intelligence (AI) industries.