Why Large Corporations Are Moving to Co-working

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Have you noticed that large corporations are moving to co-working in the recent times. This is not a one off trend and it will continue in the future. Why is it so?

“If you don’t have anything nice to say, we have a lot in common’, ‘Don’t grow up, it’s a trap’, With great moustache, comes great responsibility – One can spot professionals donning t-shirts with these cool quotes and funky shorts in any co-working space anywhere in the world.

Don’t misunderstand them with college-going chaps or struggling freelancers. They represent the world’s leading companies, but, with the change of working environment, they have swapped their formal attires with casual outfits.

It shows that the beauty of co-working spaces – which has been a traditional refuge for freelancer, entrepreneurs, writers and startup companies – has, of late, started enticing big corporate across the world.

At any reputed co-working space, one can find employees from large enterprises. Cognizant, a global leading professional services company; Merck, a pharmaceutical giant; KPMG, a world’s leading providers of tax and consultancy services and many others like them send their employees to co-working spaces to share workstations and hold a powwow with struggles and starters.

And that’s something quite amazing. It forces the HR experts to think, “Why would someone who has a secured job and a handsome salary like to work with a beginner?” or “What would he get while being in the company of greenhorns?”

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The answer doesn’t lie only in vibrant ambiance and great interiors that co-working spaces offer. Any big company can afford to have better infrastructure and fabulous furniture than what a co-working space can present. In fact, there is something which is deeper than what meets the eye.

World’s biggest co-working companies acknowledge the fact that big corporate are increasingly showing interest in hiring Workstations on lease in co-working spaces because they want their employees to work along with energetic startups and entrepreneurs. Even co-working companies have started transforming themselves to suit the need of corporate clients.

Why Large Corporations Are Moving to Co-working |  Co-working makes you feel like an entrepreneur

A drive to explore new horizons, creativity to do something different and a determination to change the way people think are common traits of startups and entrepreneurs. This character of co-working companies encourages big corporate to send their employees to work along with entrepreneurs. It can spur creativity and inspire learning. An employee of a big corporate company learns various new ways of doing things in the company of entrepreneurs.

In a normal environment of a traditional office set up, where you meet same kind of people every day, you don’t feel passionate towards you goal. It is often said, “Passion is one great force that unleashes creativity, because if you’re passionate about something, then you’re more willing to take risks.”

Taking risk is the natural traits of entrepreneurs and startups. They are not under peer pressure; they don’t bother about any criticism and failures don’t intimidate them.

In a traditional office, employees act by a set office pattern and look at things the same way every day. Along with that, they also know that they are under constant watch from their senior managers. Experts believe that it subdues creativity. One needs to break out of the set pattern of professional life to do things in a different way. So being in the company of startups and freelancers is a great learning experience. It encourages corporate employees to get out of their comfort zone and think out of the box. It stimulates them with new ideas.

Why Large Corporations Are Moving to Co-working |  Co-working helps retain and recruit talent  

Large enterprises are quite concerned about retaining talent as they know that millennial employees have nothing to do with the brand they work with. Such employees look for professional satisfaction. They will continue in a job as long as it brings a sense of achievement among them. They don’t want to feel like being a cog in the wheel.  A bigger community like co-working space can ensure professional satisfaction and a sense of achievement because everyone who is part of it has an entrepreneurial mindset.

Harvard Business Review’s latest study reveals that if employees work among professionals of different job profiles, it increases workers identity because such workspaces give opportunities to describe what they do. Everyone looks distinctive and exciting because they come from diverse backgrounds.

Large Corporations Are Moving to Co-working because, it’s also economically viable for a lot of company to take on lease co-working spaces for expanding and opening satellite branches. This makes easy for employees as they don’t need to waste time and money on commuting long distances for work.

Why Large Corporations Are Moving to Co-working |  Building relationship with business in mind

A lot of corporate, when they send their employees in the co-working spaces have business in their mind along with other benefits. A banker prefers to hobnob with a young techie when he is struggling as he is the banker’s potential client. He might not be eligible for the loan or interested in opening an account then, but when he scales up in future, it’s the banker’s relationship with the entrepreneurs that will bring business. Similarly, a tax consultant or other service providers think that it’s better to get into a relationship with a startup or an entrepreneur at the time when he or she is trying to get a foothold in any business venture.

A lot of entrepreneurs need mentoring about tax filing or registering a company. Many startups also have concerns regarding raising funds for his future venture. The correct advice paves the way for the right solution.

You May Also Like To Read: Co-working Spaces Reduce Corporate Real Estate Risk

When these consultants offer their services free of cost, it happens through open channel over a cup of coffee in a lighter and friendly setting. A lot of experts see it as a branding exercise and say that it gives instant familiarity with the brand and popularize among the potential clients. Large Corporations Are Moving to Co-working because It also provides the opportunity to top brands to mingle with young techies and sense the emerging trends. This helps identify right opportunities to offer services.

Conclusion

Since the big corporates realise the future of co-working, they are trying to send their employees there to make them part of that emerging collaborative culture. They know that engaging with startup community and understanding the world of innovation and creativity will pay in the long run.  Sir Kenneth Robinson, a British author, speaker, and international advisor has rightly said, “Creativity is the process of having original ideas that have value. It is a process; it’s not random.”

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