Shared offices vs Private offices
Whether to take up a shared office or a private office is one of the most important points of evaluation for all companies – whether it’s the early stage startups of today or large corporations.
The choice between both can be further evaluated by weighing the pros and cons of shared and private offices based on the company’s needs.
Growth is a universal goal for all companies – they all want to be scaling this path to get higher than where they are. While private offices would require a large amount of payment upfront and constant maintenance costs, it would take restrict the company’s growth. However, in shared spaces, you do not have to pay large sums, and you can easily upsize and downsize as per your requirements and budget in the long run – making it easy for you to focus what you are really there in your company for.
Privacy is another major concern for most companies at various stages. Human resources, legal, accounts payable are just some examples of where privacy and confidentiality are central to their roles. While private spaces definitely ensure privacy for your company, shared workspaces do not completely take it away. Most shared workspaces give you access to
private office facilities such as meeting rooms and event space so you can discuss private matters undisturbed.
An advantage of private spaces is that they offer complete control over your office. Be it setting up the office, deciding what should be there or who should be there – everything is as per what you would need. Setting up the vibe and the culture is completely up to the manager. However, shared offices spend considerable time and energy to provide you with the best culture, and make it look like a place you would immediately fit into.
Most importantly, apart from the money, considerable time and resources are put to work into maintaining the office. While in shared offices, everything is taken care of for you. In some coworking spaces, you just have to walk with your laptop and start working. Moreover, multiple locations give shared offices an added advantage over private offices, making the company’s employees much more productive.
Private offices are sure to make employees more focused. However, that sometimes makes them unengaged. Shared offices are skillfully designed to provide workzones where employees can focus and occasionally collaborate as well – leading to more learning and better performance.
In today’s shared economy, most companies – big and small, are opting for shared workspaces. Moreover, existing traditional corporations are opting for coworking as well. Despite both shared offices and private offices having their pros and cons, shared offices clearly should be preferred over private offices, given they save money and most importantly – time.