Shared Office Space: The Benefits And Drawbacks

Covid changed the way the business world operates. More people work from home today, which offers many benefits. However, there are challenges as well. For example, what should a company do when an employee needs to meet with a client and there is no office space available to do so? What should a startup company do when there are no funds for an office at this time? 

Consider making use of a shared office space. That allows employees and business owners to meet with clients in a professional setting without paying for an office that is rarely used. Before opting for this solution, it's best to know the pros and cons of doing so. 

The Benefits of Shared Office Space

Shared office space offers more flexibility than a conventional workplace. Some facilities allow users to rent by the month, while others offer this space on an hourly or daily basis. A person or company must determine how much they will use the space and choose a pricing plan accordingly. 

Networking opportunities abound when a person takes advantage of shared office space. They never know who will be sharing the space with them from day to day due to the flexibility of this arrangement.

Some individuals take advantage of weekly or monthly plans, but others only use the space for a day or two. Long-term and daily renters constantly meet new people and will find some of these individuals to be of great benefit to their career. Every person who comes into the shared office space is a potential contact. 

Amenities in the Rent

A person or business might find they cannot invest in new equipment. Most shared office spaces offer a variety of amenities, which means a person can access the equipment as part of the rental. While this is not a long-term solution for equipment that is needed on a daily basis, it is helpful for those occasions where specific equipment is needed and the individual or business does not own this equipment. 

The Drawbacks of Shared Office Space

Distractions are a concern when sharing office space with others. These distractions are common in a traditional workplace, but an employee learns ways to overcome them when dealing with the same group of people every day. Everyone within the organization is working toward similar goals. That's not the case with a shared workspace.

Some employees will have less to do and may spend their time engaging with others. Certain individuals in the shared office space, however, are attempting to meet a deadline and they need to meet these deadlines. Doing so can be challenging in the shared workspace, as there are few common goals. 

Privacy is a concern when a person is sharing office space with people outside of their organization. Data breaches are common in settings such as this, so the worker must keep this in mind and take steps to overcome privacy concerns.

A person cannot know who will be sharing the office space with them in many situations. This can be worrisome, as an employee may be sitting next to a person who works for a competitor. Sensitive information may unintentionally be shared when this is the case.  

Shared office space is becoming more common today. Individuals who understand the benefits and drawbacks of this solution find they can make this arrangement work. Doing so allows them to ensure they will get value for their money and be productive.