How enterprises are shaking up co-working
The growing costs required to work in sought-after central locations have long driven startups and small and medium-sized businesses to choose co-working as a less risky, more flexible month-to-month option. Currently, more than one million people worldwide work in co-working spaces.
That number is now set to grow rapidly as larger businesses and corporates capitalise on the lower overhead costs, while seeking inspiring locations to drive innovation and offer employees a great experience, which helps them to attract and retain top talent.
With millennials soon making up half the workforce, the expectation for an uplifting, stimulating workspace with original and vibrant culture is afoot. As a result, enterprises seeking satellite offices, research labs and innovation centres are increasingly adopting this revolutionary style of working.
With local member benefits, events and workshops on offer, much of the headache for operations and human resources teams is removed. Many large companies often now house entire departments within co-working spaces. Heads were turned when Microsoft took an entire Mindspace building in the second-largest deal in co-working history.
“Millennials demand a more dynamic and flexible way of working than traditional workspaces allow,” says Dan Zakai, Mindspace’s chief executive. “Tech advancements have meant professionals can choose to live, work and travel where they want, while being connected at all times. Co-working enables businesses to think more globally.”
Mindspace encourages members to work according to the needs of their business, not their location. Members are granted open-ended access to all Mindspace locations, globally – currently 27 prime locations in 13 cities and growing – at no extra charge.
Members of Mindspace in London, for example, can not only choose between two locations in the heart of Tech City – one in Aldgate and a newly opened space in Shoreditch – but they can also access Mindspaces in Berlin, Warsaw, San Francisco and Amsterdam, enabling them to have a professional office set-up wherever their business takes them.
Beyond the lure of cost-savings and a culture befitting the millennial generation, co-working provides instant access to a network of other companies, enterprises, entrepreneurs and potential investors. The Mindspace app, meanwhile, provides access to a digital network of more than 14,000 members globally.
Working so closely with potentially valuable contacts is a unique opportunity for businesses to bring high-level networking to their doorstep. More than 93 per cent of Mindspace’s members said the networking effect benefits their business directly.
“Proximity is power and having such great direct neighbours can really benefit a business and help propel it to the next level,” says Mr Zakai. “The ecosystem has changed; sitting among influential industry leaders is innately inspiring and encourages organic networking and collaborations in your field.”
Mindspace has gained admirers by positioning itself as the boutique hotel of the co-working industry. Despite its growing global footprint, no two Mindspaces are made the same. Its vice president of creative and design acts very much like an art curator by delving into local cultures and communities to create a completely unique working environment.
“Every location is bespoke, premium and beautiful in its own way,” says Mr Zakai. “We adhere to exceedingly high quality standards that, as we grow, will not be compromised and our passionate design team scours local flea markets, while building tight-knit relationships with artists around the world.
“From the light fittings to the book collections, the wood selection for the desks and the record collections, the designers focus their attention on every single detail. We also offer generously sized offices compared with many of our competitors. It comes down to the people; our commitment to service is backed by the numbers and our ratio of on-site community managers to total members is twice that of other co-working spaces.”
This focus on service means Mindspace is able to offer a high degree of responsiveness to needs and queries through its on-site IT, operations, finance, event planning and community managers. Co-working has evolved into a global movement and is set to change the whole concept of work for a new generation of talent.
Mindspace Aldgate: 114 Whitechapel High Street, E1 7PT
Mindspace Shoreditch: 9 Appold Street, EC2A 2A
0748 048 8397