AO: I have spent the last 28 years in the executive suite/business center industry. 28 years ago, our clients wanted to create the impression that the entire shared space was actually their office. Fast forward to today – being in a shared office space is seen as being part of a supportive professional community, and is viewed as a smart business decision. As a business leader, an executive suite offers you a lot of flexibility as your company grows and your needs change.
You don’t have to commit to space, infrastructure or staff members, and thus expenses, that you might not need a few months down the line. If your company does grow and you need larger space of your own, we offer WorkReady Suites. These privately accessed spaces offer access to the Carr Workplaces services and community that all of our clients enjoy.
Thankfully, more and more companies are aware that our product exists and that it offers significant advantages over traditional leased space. The whole concept of sharing has become an accepted way to drive a car (Zipcar), select a place to stay (Air BnB), etc. Carr Workplaces is truly a part of the sharing economy.
AO: As with all businesses, we have to be nimble with our product offering to meet the needs of the market. We are continually introducing new products and tweaking our center design to ensure that our workplaces appeal to the workforce of today. Technology has created an enormous shift in the way people work. We are introducing new technology solutions to make it quick and easy for both prospects and clients access the spaces, services and support they need.
We’ve also seen an increased value placed on community. We’re tying our client community and events into these technology solutions to allow clients to connect and work together, even if they’re physically located in different places. This all comes from to the two biggest things we’ve heard from our clients – their most precious resource is time, and they want to be part of a professional community as long as it adds value to their day.
AO: I don’t think these new workplace designs will replace traditional officing. Not all people and all positions are productive working in an open plan or co-working environment. I believe that there is a blend for some organizations. For others, perhaps one design works best for their team. It is important for all business leaders to understand what is important to their team members and where possible, offer options to allow a team member to be the most productive.
Each of our spaces has certain brand standards, but they also have different features and personalities. It’s not just the space that matters, but also the community of people working there. With all of the traditional, shared office and co-working options on the market today, it’s really important for business leaders to understand what they’re getting.
Decision makers should really consider their priorities, whether they be flexibility, privacy, community, support, permanence, or professionalism, and they should look for a solution that embraces the elements that are most vital to their organization.
AO: Never! Hah…. A couple of different scenarios come to mind in which the CEO should seriously consider a traditional lease as the best option:
Even in these cases, you might want to consider using shared spaces for meetings, training sessions and corporate events.
We also have many companies use our space while they are waiting for the build-out of their traditional office. And, we have enterprise clients that are headquartered in a traditional office, but use our products to help them develop a presence in new markets without making a large upfront investment. Furthermore, we have also accommodated some pretty unique compliance needs - for example, hosting an embassy within one of our centers.
AO: Community has always been a priority at Carr Workplaces. Many of our clients are small companies with one to three employees. In terms of space design, we always have a community café area in our centers, which facilitates conversation and collaboration over morning coffee or lunch.
We host events in our centers aimed at helping clients enrich their networks. Our staff actively tries to connect clients with one another if they think there may be synergies. We will be launching a new client portal in the near future that will provide our clients with an opportunity to network across centers, and with a way to market their services to our entire client network.
AO: I don’t believe that one space type fits all workers. While, yes, the millennial workers do thrive on collaboration, depending on the individual and the job they are performing, open office design might not always be the answer.
Again, I think you need to understand your team and the tasks at hand. It goes back to prioritization of needs. If someone needs to be on the phone all day long, or works better in a really quiet environment with few distractions, they are going to perform at a higher level in a private office, no matter their generation.
Millennials are embracing flexibility and choice in the workplace – they want to work in a manner that best suits their personal tastes.
AO: The beauty of the shared office model is that you have access to the services that you need and for the most part, you only pay for them when you use them. When evaluating our spaces, many people forget to factor in the cost of a team member to answer phones and/or act as a receptionist, and as a client of ours, you have access to various sizes of conference rooms, event spaces and day offices across our network.
When you are building out your own space, you have to dedicate square footage to a conference room, which is typically used infrequently. There are also the costs of the copier (which again – our copier is probably much nicer with more features than the models most companies would put in their own space); the telephone system; the furniture; the coffee machine (and coffee); the binding machine; the kitchen; the reception area… the list goes on.
A traditional lease often looks reasonable until you factor in the cost of all of these priorities, and then once you do, the approach we offer suddenly comes into focus as a highly efficient, cost-effective solution.
AO: My first piece of advice would be to do your research – understand your team and understand all of the various workspaces that are available. Keep an open mind on the space options. For example: Just because you don’t want to work in an open space, doesn’t mean your team won’t think an open space is best.
Second, I believe that workspace strategy will continue to evolve, so think about how to give yourself flexibility and options as your business grows and changes.
Third, do a full cost-benefit analysis of your space options. You may find that a higher fixed monthly rate actually saves you in build-out, staffing, infrastructure, operations and other costs.
And finally, remember that the objective of your space design and strategy ties back to the culture of your company, and this takes careful planning and commitment over time. A community is not made - it grows. How you select, configure and manage your workspace is a powerful factor in the overall success of that growth.