Does Employee Efficiency Really Increase For Large Corporations in a Co-working Space?

Generally, the nature of competition increases in a coworking environment. This gives rise to the increasing efficiency of the employees in all causes and times invariably. It is always necessary to note the similar things which can connect the two environments of study.

In this case, Coworking is a type of business which combines both the corporate and the startup approaches. It can be understood as a special workplace inside of the building or the said place where the corporation is located. Sometimes, it may also be situated outside of its own premises.

Employees would be able to come here at any point of time to feel more relaxed and stress free. It may be due to the flexible atmosphere which is peculiar to these new spaces. The company’s workers can also meet their clients at coworking spaces. But it cannot be included among the classical business meetings.  Also, Freelancers are usually looking for more effective ways to upgrade their business processes. They look out to continue to make more connections and keep themselves motivated and occupied all the time. The employees of big corporations also might require more flexibility towards their work these days.

CORPORATE COWORKING: Coworking has become a trend that continues to grow and has now become very increasingly popular. This is not just only among the small work groups but also among the large corporations. They wish to make most of their potential of collaborative work within their decided organizations. This is called as “corporate coworking”.

KEY ELEMENTS:

Making the most of coworking and its different models poses obvious challenges in the field of people management. Some examples may include how do they share strategies and inspire the continuous engagement in people.  Many valid questions arise such as:

• how can they measure the effectiveness and strength of coworking both quantitatively and qualitatively?
• How do they avoid the potential risk of all the illegal contracts or threats or dangers posed when placing the employees at the disposal of another company?
• Or in any other terms of physical safety?
• or other information in corporate environments that are much more flexible or anything of similar sort.

 

1. People management strategy:

One of the most important tasks to accomplish in a coworking environment would be the people management in all the sectors.  Defining by the vision, values and flexible processes are all inclusive for employees. And at the same time, accumulating and segmenting all the policies will be very important and fundamental in clarifying the rules of the game.

Thus, generating motivation and the hope of direction in a considerably long term.

1. Work commitment and performance management:

Reconsidering the key elements of employee engagement to integrate this new approach to working by focusing on various rational elements. This may include, for example, compensation, work responsibilities, all the emotional aspects and transcendental factors. Which means a combination of personal values with the company’s mission. It’s also very important to have a good engagement in the entire perimeter (both employees and external staff). To provide and prove that this new approach will be sustainable and will yield new and good results in both the short and long term.

1. Employer branding.

It is always necessary to note and improvise the employer branding in all the companies whether coworking or not. It helps to identify each employee on their capacity and strength and to rightly maintain the balance. The first step is to identify the company’s brand, the profile adapted features and the employee’s scope in it. In addition to good total compensation, few other important elements should be added to note. This may include continuous development, work flexibility, innovation and co-creation, work-life balance, diversity and many more.

1. Labour relations.

There may arise a lot of possibilities of difficulties in labour relation in the working environment, especially in the coworking environment. To avoid risks that may endanger coworking, one must always establish processes and contracts. This is done to ensure compliance and other factors with the legislation relating to commercial, work and any other occupational risk-prevention factors. This will help prevent the risk of unlawful contracting in the event of conflict. It also clearly establishes the role of each individual in the environment and solid criteria in terms of knowledge management, security and other purposes that can be taken into consideration.

1. Change management and innovation.

It is always healthy to note the statistics of growth and creativity time to time. Identifying the levels of the initial implementation and sustainability will provide a key to success. To this end, it would also be important to analyse all aspects such as the benefits of co-working for the company and the different communities that exist. Other factors like cultural change, sponsors at different levels of the company, all the existing barriers and valid proposals to overcome them, key phases and quick successful consolidation, and many more.

The graph clearly explains the scope of new businesses and the varied expansions and growth the efficiency of employees stimulates in a coworking environment.

CONCLUSION: Coworking is a new form of working that now fits in well with the current model and growth of innovation economy and an open society. In addition to being a new approach to working, it acts as a form of change management for any organization.  By this way, it wishes to promote its values which may include diversity, external openness, creativity, shifting from comfort zones and so on.  Likewise, it may have some discouragements such as heavy competition between the communities and stress factors, constant new updates and many more. It can be overcome if managed wisely and is adapted to each organizational culture or strategy and business challenges. In this way, it can become a very significant competitive advantage to generate new ideas. And also, ideas that will increase the instances of profitability. It can also enhance the engagement and development of all the internal teams.

Besides the points of discussions stated above, what else do you consider that are important to prove that it is the efficiency of the employee that really impacts an increase for corporations in a coworking environment?