Hacking Employee Happiness With Shared Office Spaces

Even in the age of automation, the success of a good company falls largely on the shoulders of the employees. Getting the most out of your employees will often lead to positive results in all aspects of your business. Fortunately, a shared office space can help you hack the code to improving employee happiness.

The Value of Employee Happiness

Employee happiness is an important marker for the most successful operations. Factors like contentment help to increase morale and reduce retention. But the true value of employee happiness is measured in their ability to thrive. Thriving is what makes for truly effective, high-value employees.

Here are just a few key benefits of happier employees:

Performance

Working in an environment that allows them to thrive results in greater efficiency and quality of work. Happy employees are more engaged and driven. They are a driving force behind growth.

Care

One of the great detriments to a company’s performance is indifferent employees. When an employee doesn’t care, it affects the quality of their work. They miss deadlines and make more frequent errors, as well as coming up with fewer solutions.

An employee who cares about the company brings more to the table. They create a better atmosphere for others and they take pride in doing a good job.

Sick Days

Sick days are an underrated source of lost profit for employers. The day comes out at a net loss for you. You lose out on the work you needed the employee to accomplish, while still paying for those hours. Of course, you can’t scrap sick days, but you can reduce how often people take them.

Improving employee happiness results in people taking fewer unnecessary sick days. As well, happy workers have less stress and tend to take better self-care, resulting in better health.

Above & Beyond

If you want to see your workforce going above and beyond the call of duty, you need to keep their job satisfaction high. Happier employees are driven to go beyond the call of their job, while simultaneously avoiding burnout.

Retention

It’s no surprise, happier workers are less likely to leave. By keeping their happiness-level up, you can avoid the high costs of employee turnover, as well as the loss in efficiency while they go off on interviews and touch up their resume.

The Solution: Shared Office Spaces Allow Employees to Thrive

When it comes to increasing employee happiness, coworking may be the solution. Employees at shared office spaces have higher self-reported levels of vitality, learning, and job satisfaction.

In the context of the workplace, vitality means the passion and excitement for the job. The collaborative, open atmosphere of a shared office space helps people see that their actions make a difference to them, their coworkers, and their company. The result is greater enthusiasm for the job, incentivizing people to accomplish more.

The landscape of business is constantly changing. As such, those who stay ahead of the learning curve help your business thrive. In a coworking space, people are more driven to learn. In part, this is due to to the increased vitality. However, it’s also propelled by the atmosphere.

In a shared office, your employees are in the proximity of other agile, learning businesses. This encourages further learning, as well as resulting in a cross-pollination of knowledge. Businesses in the same shared office space learn from each other, creating a symbiotic relationship, even if they do not directly conduct business together.

Furthermore, shared offices increase job satisfaction. Working in an open office keeps up a team mentality. This promotes a healthier, happier business atmosphere. People are less likely to try and one-up coworkers or steal credit. As well, it’s easier for management to see and recognize peoples’ efforts.

This collaborative atmosphere and recognition of one’s own efforts make a big difference in overall job satisfaction.

5 Ways to Enhance the Benefits of a Shared Office

While coworking is already a great way to promote employee happiness, there is still more you can do. Here is a quick list of five easy ways to enhance the benefits of shared office spaces:

  1. Increase Collaboration & Community
  2. Provide Support
  3. Environment
  4. Empowerment
  5. Flexibility

1. Increase Collaboration & Community

Coworking is all about collaboration. One of the simplest ways to improve on this is to build a community in your workplace. Team outings are a low-cost way to quickly increase employee satisfaction and build bonds between workers. As well, they are a nice bonus for attracting new talent.

Team Building

2. Provide Support

A shared office space gives management the ability to work closely with employees. This allows them to provide meaningful support and feedback. Employees feel more valued, leading to improved efficiency and/or quality of work.

As well, the best shared offices offer support services for on-demand use. These services avoid employee headaches, stress and inefficiencies that can happen when trying to solve problems outside of their expertise.

Technical services like IT and troubleshooting prevent frustrations and keep everyone operational. Administrative support can prevent your team from becoming swamped in by other duties in peak periods.

3. Environment

The workplace environment has a big impact on employee morale. Professionally-designed shared office spaces with plenty of natural light and ergonomic furnishings are a great help. But employers can do more to improve the environment inside the coworking space.

Allowing workers to have plants or other decor can make a big difference in a coworking space. It helps to remove the sense of the impermanence of agile office spaces. As well, it creates a more personal, friendly touch.

Also, making full use of the space can help employees thrive. Good coworking spaces have lounges, wellness areas, and more. This allows employees to shake it up a little, working in different locations. It’s a great way to keep them comfortable, happy, and flexible. Don’t keep your workers chained to their desks.

4. Empowerment

Toronto shared office spaces don’t share the same rank-and-file structure of a traditional office. You can use this free-flowing atmosphere to empower your employees. In this atmosphere, they feel more capable of making a difference and are more likely to suggest new ideas. You can promote this further by allowing them more decision-making and sharing information with them.

5. Flexibility

Coworking offices are bastions of flexibility. This is making them popular business spaces for enterprise and startup companies alike. Embracing this flexibility can help you get more out of your workforce.

For example, many companies in shared offices have flexible hours. This can include allowing for different arrival/departure times so that employees can better schedule their day around their commute or needs of their family. For example, an employee may work from 8 to 4, rather than 9 to 5.

As well, offering the flexibility of a few work-from-home days is a great help. In addition to being a nice benefit for employees, it’s also great for employers. For example, many employees will use work-from-home days rather than sick days when they get a cold. This has a double benefit. For one, you don’t lose out on their work. And for the other, they don’t get others sick, resulting in more sick days.

Increase Employee Happiness With Toronto Shared Spaces

In a competitive landscape like Toronto, companies need every edge to reach their full potential. The best shared office spaces help to create happy, thriving employees, for more successful businesses.

Book a tour of our prime downtown Toronto shared office spaces today.

Why You Should Consider A Shared Office for Your Side-Hustle

Shared Office Rental

It seems like everyone in Toronto has a side-hustle. From podcasts to passion projects, having your own business is the modern dream. Whether you’re trying to build your own empire or simply earn a few extra bucks, a shared office can help you transform your side-hustle into your primary income.

Although enterprise businesses are moving into coworking spaces, shared offices are still home to startups and creatives.

Today, we take a look into some of the benefits of using shared office space for your Toronto-based side-hustle.

High-Quality Space Dedicated to Your Business

For any side business, it’s always tempting to go with the bare bones approach. People often start off working on these projects from home or even after hours. But if you’re serious about transforming your part-time passion into your full-time career, you need to invest in it.

Coffee shops and home offices crowd you with distractions. To really get the most out of the limited time you have to work on your side-hustle, you need a dedicated space. Working from home, it’s easy to get caught up throwing on Netflix, catching up on chores or goofing off.

But when you have an office space you pay for, you place more value on the time spent. It makes it a lot easier to keep your focus on growing your business and getting things done.

As well, the high-quality space gives you access to all the amenities you need for your business. Phones, ergonomic furnishing, high-speed internet and colour printers are just a few of the services available to you. You have access to all the benefits of a full-scale office at a fraction of the cost.

Affordability

It’s no secret, the rent in this city is out of control. If you’re looking to secure a space in one of Toronto’s most desirable areas, you can expect to pay a premium. Currently, Toronto’s Bay Street area has the country’s highest office space rental rates.

Office Rental Costs Toronto

Shared offices give a budget-friendly alternative. Coworking spaces give you access to the most desirable locations in the city without the insane price tag. Find affordable shared office spaces in Toronto’s financial district.

Convenience

The availability of these prime downtown locations makes these office spaces more convenient. TTC accessibility means it’s easy to get to if you’re heading to your side-hustle after work. That saves you time, maximizing what you can put into growing your business.

As well, these locations make it easy to meet with customers and partners. The location is close to other key businesses, so it’s convenient for your clients. You can even rent high-quality meeting rooms at preferred rates.

Professionalism

Shared office space is a quick and affordable way to boost the professional appearance of your business. The prime location, top quality service, and professionally designed meeting rooms legitimize your business.

Networking

Networking is one of the great benefits of coworking. You gain exposure to a variety of other businesses and services. This gives you ample opportunity to collaborate or draw on the experience of others. As well, this is a good chance to meet new potential clients.

Rent Shared Office Space in Toronto

Upgrade your side-hustle and take the first step towards turning your million-dollar-idea into your million-dollar-business. Discover open or private office spaces to meet your company’s versatile needs.

Contact us today to book a tour.