Hybrid work is the new normal for the American worker. It has quickly become a popular and desirable option for employees. In fact, a McKinsey survey reports that 87% of employees who are offered flexible work will take it, and a notable 59% of employees will specifically choose an employer that offers remote and flexible work.
These new work models reduce commute times and create a better work/life balance. And while fully remote work has its drawbacks, hybrid office spaces neutralize many of those by offering an organized, focused work environment alongside inspirational atmospheres and motivational networking opportunities.
Companies themselves are also benefiting from these kinds of work environments. Many are choosing hybrid coworking spaces over a traditional leased building, relieving them of lengthy leases, overhead, and maintenance. Additionally, studies are finding that businesses are benefiting from employees feeling more productive and motivated in these spaces.
As a result, many businesses are choosing to remain flexible with work arrangements while using coworking spaces to maintain a base of operations. Hybrid office spaces in Austin deliver the resources employees need while offering the flexibility employees love.
Why Hybrid Office Space in Austin is Part of the New Normal
Many businesses have found that they no longer require traditional office spaces. According to an UpWork study, 19 million workers have moved out of major cities, opting for more rural locations (and often less expensive properties) where they can take advantage of remote work.
That means these workers come into the main office less often, leaving many companies with vacant office space. This shift has led them to cut down or even eliminate their office space. San Francisco, home of Silicon Valley and some of the biggest tech companies in the world, has recently seen an office vacancy rate of more than16%. It’s the highest ever for the city.
As touched on earlier, eliminating office space entirely has some drawbacks, though. Many companies find it beneficial to have spaces where coworkers can collaborate. They may also want client-facing spaces for meetings and presentations, providing a more personal experience than a Zoom call.
At the same time, working from home isn’t for everyone. Many people find that the original glamor of this option starts to wear off after a while. They might feel isolated, need more self-discipline in completing tasks, or find the home environment distracting. This is where hybrid office spaces and coworking spaces shine. Employees from a variety of industries can work side by side in their own spaces—free from dingy, windowless cubicles or drab, poorly lit lunch rooms, and still have everything they need from a traditional office space.
These work spaces are well on their way to becoming the new normal, alongside the hybrid working schedule, for more than a few reasons.
7 Benefits of Hybrid Offices and Coworking Spaces
While cost savings and employee motivation are important benefits of coworking spaces, there are many other benefits. From scaling as your business needs change to building community and social opportunities, the positives are apparent. Below is a more detailed look at each one.
Scale Up or Down to Meet Your Needs
Your office space needs will change over time. Startups need a small amount of office space, but may grow quickly as the company’s product or service takes off. Some companies need minimal office space for weekly workers and a larger office space to accommodate all-staff meetings or training events.
Hybrid office spaces can handle all of these. You can rent the space you need monthly, scaling your space up or down as needed. Many of these coworking spaces also have conference rooms and meeting spaces that can hold larger groups, giving you the space you need, when you need it. You’ll have flexibility without paying for office space you aren’t using.
Network with Other Like-Minded Companies
One of the most remarkable advantages of moving into a coworking space is the ability to network with other companies. Some coworking spaces are set up for specific industries, such as media, arts, or tech businesses. Working in an environment that isn’t restricted to your own company expands the opportunities to collaborate, brainstorm, and interact with new people and new ideas.
This independence and innovation can ultimately lead to an increase in employee happiness and satisfaction. Working with other businesses can generate new opportunities and ideas even if you aren’t in an industry-specific space. It’s an advantage you wouldn’t experience in the traditional office environment, which was often divided by department and didn’t allow for the exchange of ideas among a range of professionals.
Improve Productivity and Morale
Since hybrid and remote work is relatively new for most businesses, many employers are still concerned about the ability of hybrid work spaces to increase or even maintain productivity in their employees. That said, as these coworking spaces become the norm, the idea that people thrive in coworking spaces is also becoming widely recognized.
According to one study, “45 percent of workers said their mental health has improved since joining a coworking space.” Improved mental health adds up to big benefits for both employees and their companies.
Free Up Capital with Short-Term, Flexible Leases
As mentioned above, traditional office spaces require long-term leases, often locking a business into years of paying for space they may not need or use all the time—especially in today’s work environments. In contrast, hybrid office spaces allow you to sign a membership agreement instead. This enables you to rent the space you need month-to-month, allowing business owners more opportunities to re-invest the savings into their business. It’s an excellent option for companies looking to reduce costs and become more agile.
Enjoy All-Inclusive Amenities
Another great perk of many coworking spaces is the on-site amenities. These should include all the necessary elements to efficiently perform day-to-day business operations. The right hybrid office space in Austin will provide
- High-speed Wi-Fi
- On-site kitchens with coffee and tea
- Gorgeously designed workspaces
- Business essentials, like printers and mailboxes
- On-site parking
In many coworking spaces, workers enjoy all of these amenities without business owners bearing any of the upkeep burdens. It all comes with the coworking space membership, so the space owner will take care of stocking the snacks, cleaning, maintaining, and arranging any additional events. Employees need only enjoy the benefits and focus on work.
Build a Sense of Community
Beyond networking, coworking spaces allow for a general sense of community in the the lives of workers. Remote work alone can cause many workers to report feeling more distant from coworkers, and they often blame working from home for it. 67% say it’s harder to become friends and maintain relationships with coworkers after transitioning to a work-from-home model.
This unintended consequence of using digital tools to work from anywhere, while it expands the horizons of many companies in amazing ways, contributes to more isolation and loneliness in the workforce, which can negatively impact the same productivity and morale that is improved by coworking spaces.
But coworking can renew that sense of community, even if your “coworker” is from a different company. Some spaces are pet-friendly and even host community socials, so you can easily get to know the other people.
Create a Better Work-Life Balance
Coworking spaces are indeed the best of all worlds. They provide the structure and amenities of traditional office space without taking away from the freedom of working from home. Workers can set their own schedules, using the area in the way that suits them best.
The flexibility of hybrid office space is about allowing the individual to find the right balance for them. Some may only use it when they need to do a big push on a project or when meeting with coworkers or clients. Others may enjoy the office environment and use it every day. They can come and go as needed, giving them balance with other commitments outside of work.
Think Outside the Office Box
Hybrid offices are here to stay. It’s a growing industry, projected to be valued at over $200 billion by 2030. That growth can be attributed to companies recognizing that they no longer needed permanent office space year-round. Instead, they opt to use hybrid office spaces, making these unique work environments the new normal in the business world. Vuka offers two locations to meet your company’s coworking needs. Whether you need a dedicated desk or a private office, we can accommodate your needs while offering everything you need to get work done. Contact Vuka today to book a tour and see how our coworking spaces can elevate your work environment.