1) MORE BUDGET FOR EMPLOYEE EXPERIENCE
By renting an office part-time instead of a traditional full-time office lease, we have seen companies reduce their office costs by as much as 79%. This huge reduction in cost frees up tonnes of budget that a business can choose to reallocate into, well, whatever they want!
One of the ways we see a lot of our customers reinvest this budget is into employee experiences, be it payroll, staff wellbeing initiatives, or team-building activities.
It boils down to what you would rather spend your money on: office costs or providing a better experience for your employees. Hybrid office sharing may be able to offer you more of an opportunity for the latter.
Pod Talent put this prioritisation into practice and used the £100,000 they saved with their hybrid setup to help their employees through the cost of living crisis, which no one would disagree is a much better use of the money!
2) ABILITY TO HAVE A MORE CENTRAL LOCATION
Trust me, we get it, offices can be bloody expensive. Often being the second biggest expenditure on your balance sheet after payroll, sometimes early-stage startups and SMEs can’t quite justify that office slap bang in the middle of London, often having to settle for a less desirable location to make economic sense.
But with hybrid office sharing, you can easily upgrade your location due to the lower costs involved with renting. This means you can get a more central office for less than a full-time office in less desirable location!
By sharing an office space with other businesses, you'll expand your network so much more than with a traditional lease. This can lead to potential partnerships, collaborations, or even new business opportunities.
This isn’t just theoretical, we have seen clients host official networking events with their hybrid partners which lead to new business opportunities for both parties. It’s all about connection with other people, and there’s no better way to do that than with a hybrid office. If you’re looking for more information on how to make the most of your hybrid set up, check out our blog on the 5 most important things to consider when sharing an office.
4) RECRUITMENT BENEFITS
Having a more central location and a flexible workspace can make your business more appealing to potential employees. By offering a modern and adaptable workspace, you'll be able to attract top talent and stand out from other employers. Recruitment is so crucial to a companies success, so making a great first impressions with your office in the first interview is a great way to find the right fit.
5) HIT A BALANCE BETWEEN FLEXIBLE AND ORGANISED
A fixed hybrid office setup, where a company comes into the office on set days, helps businesses strike the perfect balance between flexibility for their workforce whilst still providing collaboration opportunities and boosting morale with socialisation.
Because of this reason, we believe fixed hybrid is the future, and if you want to explore the ins and outs of part-time office rental, you can check out our blog on exactly how they work.
6) GREATER ABILITY TO APPEAL TO YOUNGER GENERATIONS
Millennial and Gen Z employees prioritize work-life balance and flexible work arrangements. By offering a hybrid office strategy, you'll be able to meet these expectations and attract younger talent to your business. With the rapid development of workplace skills, attracting and retaining employees with new skills is imperative for businesses of all sizes, and embracing the hybrid nature of modern work is the perfect way to get started attracting that talent.
Once you have attracted this new talent, hybrid working allows these younger generations to learn through osmosis from consistent contact with their more experienced colleagues with a longer tenure. This leads to a better and more effective onboarding experience than a purely remote setup.
7) SCULPTING YOUR WORKDAYS FOR SPECIFIC PURPOSES
With a hybrid office strategy, you can design your work days to optimize productivity and creativity.
For example, if you are working from home on Monday, you can sculpt your tasks for that to be optimised for quiet, siloed work. And then when you are next in the office, you can plan your work tasks around collaboration and teamwork. This strategy is something we have seen work so well for some of our clients, and enables them to structure their work week to maximise their output.
Overall, adopting a hybrid office strategy can offer many benefits for businesses of all sizes. By reducing office costs, providing a more central location, networking opportunities, and attracting younger talent, hybrid office sharing can help businesses thrive in a modern and competitive marketplace.
If you’re interested in exploring your hybrid options, take some time to check out 1900+ listings on our first-of-its-kind marketplace, and who knows, you may just find your perfect match!