The 3 Biggest Benefits Coworking Offers HR Departments

In order for businesses to survive in the modern world, managers need to think about how they can best cater to new workforce generations
HR managers should consider using coworking spaces in order to effectively deal with some of today’s most common human resource challenges
Coworking spaces can help HR managers attract talent, address well-being, and create a unique employee experience.

“In the 21st century, careers are no longer narrowly defined by jobs and skills but through experiences and learning agility. The ongoing transformation of work, the need for people and organizations to constantly upgrade capabilities, and shifts in employee preferences demand new approaches to learning, job design, performance management, and career development.” – Deloitte 2018 Human Capital Trends

In today’s globalized world, companies are fighting to attract local and international talent. Human resource departments are faced with the challenge of attracting and retaining employees and of creating a work experience that engages and motivates employees. Companies need to start thinking of ways to take advantage of new tools and resources available to them.

One such resource is flexible workspaces.

Flexible workspaces can help HR managers effectively deal with some of today’s most common human resource challenges.

1. Talent attraction and retention

Attracting and retaining top talent is the main challenge HR managers face today. Furthermore, as technology has enabled individuals to work from anywhere at any time, companies aren’t just competing against local businesses for talent anymore, they are competing against companies across the world. Flexible workspaces can help HR managers attract and retain talent by offering employees well-designed spaces, unique and valuable amenities, flexibility, a convenient location, and a motivating workplace environment. Furthermore, well-designed workplace environments that give individuals choice can also aid in improving productivity and performance rates.

2. Wellness

Workplace wellness has taken off over the past few years. Wellness today “has expanded dramatically to include a range of programs aimed at not only protecting employee health, but [also] actively boosting performance as well as social and emotional well-being.” People perform their best when they feel their best. Wellness is one of the core pillars of coworking. Most coworking spaces actively promote wellness through a variety of programs and add-on services and amenities. Coworking is also a pioneer in tackling mental health in the workplace. HR managers can take advantage of coworking spaces in order to promote employee well-being. According to Deloitte’s 2018 Human Capital Trends, there is a substantial gap in what companies offer and what employees value in terms of wellness.

Well-being: what employees value vs what companies offer -Deloitte’s 2018 Human Capital Trends

Most coworking spaces offer 5 of the 10 most highly valuable or valuable wellness amenities (designated office space for wellness, healthy snacks, flexible hours, wellness counseling, mental health counseling). Some coworking spaces also offer back-up daycare.

3. Better employee experiences

The modern workplace and the future of work are all about experience. Coworking spaces offer a better workplace experience for employees through their creative, collaborative, and innovative environment. Furthermore, coworking spaces are carefully designed to meet a variety of work styles, and many of them offer individuals with a choice. Flexible workspaces offer open workspace areas, quiet areas, private offices, meeting rooms, phone booths, etc. Having this choice not only improves an employee’s overall experience, but it can also help improve their performance. A unique workplace experience will help HR managers lower staff-turnover rates.