Walk around a shared workplace and you will see people from other firms hard at work in their private suites or desks. Such office spaces, where companies lease rooms or desks with others, is fast gaining popularity and acceptance among not just start-ups but multinational organisations as well. Here are some reasons why your firm might want to give it a try.

Attracting the millennials

With ‘work-life balance’ being a buzzword among millennial employees today, shared workplaces could be the key to meeting their expectations and retaining them. The convivial atmosphere of a shared workplace fits right into the millennials’ work culture, especially when breakout areas and common pantries are provided to encourage networking opportunities.

Working in close quarters with other companies could also lead to new ideas and create potential collaboration and partnership opportunities. Cloudfare, an American web security firm, for instance, opened its Singapore office in a shared workplace and is considering working with a recruitment firm on the same floor for its expansion plans.

Shared workplaces located in residential areas could also help companies ease the daily commute for some of their employees. The Singapore government, for example, has begun to open a series of Smart Work Centres across the country that will be shared by people from different firms. These are expected to bring the workplace closer to some employees’ homes.
Making dollars and sense

With the proliferation of mobile devices such as mobile phones and laptops, people can now work on the go. Large companies such as Facebook and British newspaper The Guardian are using shared workplaces to set up satellite offices quickly and cost-efficiently, even in other countries, and expand their footprint in prime locations.

By using a shared workplace, companies can also reconfigure their office space according to their needs, for example, by leasing a smaller space at first and then expanding on a temporary basis when necessary. With such flexibility and reduced upfront cost for office space, firms can become more financially secure and agile.

Connecting the dots

With collaboration between companies often a key to success today, a shared workplace literally brings firms closer together to spark that potentially profitable connection. In the United States, for instance, Silicon Valley Bank has rented space at more than a dozen shared workplaces populated by technology start-up firms.

“People literally open the door and say, ‘we need to open a bank account’,” Mr Mark Gallagher, who leads the Silicon Valley Bank’s Boston technology practice, told Bloomberg.

Shared workplace, smart office

In Singapore, one of the well-regarded shared workplaces is Keppel Land’s Workspace at Keppel Towers. Conveniently located in Tanjong Pagar within the Central Business District (CBD), makes commuting to work a breeze, and its capacious design includes an elevated 4m-high ceiling.

Workspace at Keppel Towers

You can rent a desk for just $150 weekly or from $350 a month. Firms can also get private office suites that fit two to eight persons from $1300 a month.

Workspace provides high-speed wireless Internet, air-conditioning during business hours, and common break out areas with complimentary coffee, tea and snacks. There are also pay-per-use conference and meeting rooms as well as printing, faxing and scanning services. Cyclists and motorists can also use Keppel Towers’ parking facilities.

Hotdesks at Workspace

Meeting space for discussion

With the success of Workspace at Keppel Towers, Keppel Land is planning a more premium serviced co-office centre at a prime waterfront location. If you’re looking for an office where you can mingle with other companies and get top-notch service, watch this space for the new workplace’s launch!