Over the years coworking spaces has been tapped by a majority of freelancers and start-ups as affordable and flexible office space solutions. The interesting fact about the perk of coworking is not limited to the need for office space to cut costs but also a quick and easy way for a great human resource initiative. Here we know how coworking space is a great tool for HR initiative.
Established companies struggle with talent acquisition and retention. Hiring skilled talent is difficult, to begin with. A huge amount of money is invested in talent retention when big companies spend a lot to retain talented employees. Big brands and attractive work profiles apart, the proximity of the office also plays a key role in an individual’s decision to join a specific organization. This is where neighbourhood coworking spaces are making a real difference. For instance, imagine a skilled employee stays in Noida and is looking for a change. Companies with offices in Noida are trying to hire him/her. There is one other top company who has rented a coworking space in Gurgaon approaching the same candidate. Which one will be an attractive proposition for this person, given that both companies are big brands offering lucrative job profiles? Definitely, the one with shared office space will have an advantage due to its proximity near the candidate’s home.
The high pressure at work, long commuting hours and steady pressure all disturb the work-life balance of employees. And not to overlook that it is one of the key reasons for employee retentions. The imbalance work life influences the efficiency of the employee. This can be an issue in the longer run.
For example: If an employee stays in Gurgaon has to commute to Noida daily, there will be a lot of pressure commuting every morning during rush hours. After some time, this will start reflecting on employees performance. Eventually, that person might feel tempted to look for other work options that offer a better work-life balance. But what if the same individuals decide to join a company in shared space near his/her home, a lot of time can be saved which were spent on commuting and traffic. A better work-life balance with a happy and comfortable, win-win situation.
So, by taking up office for rent in Gurgaon for coworking, the company is not just attracting top but at the same time is holding them and increase their productivity.
Established companies often roll out surprising improvements in their staffing levels. These changes lead to a lot of issues regarding space and assets for the human resource department. Sharing office spaces allow companies to coast over these issues. The real advantage of coworking space is that companies get the choice to expand their team without being tensed about a huge investment in leasing property and furnishing it.
All the staff changing module can be accomplished at a fraction of cost that was required to invest in creating a new office or new staffs. The organizations can spare this sum and spend it to retain their staff by offering added perks and bonuses.