Tag Archives: co-working benefits

Why Having Leisure Activities and Community Events is Good for Business

Why Having Leisure Activities and Community Events is Good for Business

 

Why Having Leisure Activities and Community Events is Good for Business

 

Productivity is one of the key ingredients of business success. Having high levels of productivity and efficiency is something all companies aim for regardless of industry, and you can’t achieve that without a degree of hard work.

That said, working hard shouldn’t be the only focus of a business and its employees. In fact, research has shown that too much work is not only bad for your health, it can also make leaders less effective, staff burnout increase  and, ultimately, be bad for business.

Here’s where having fun, leisure, and team- and community-based activities come in. Offering valuable respite from workplace monotony and, depending on the event, even valuable insights for future success to participants, these kinds of events have certain advantages businesses and employees will find beneficial, such as the ones below.

 

Building Better Workplace Relationships

 

Leisure sporting and community events, especially when jointly organised, help employees take a break and reconnect with each other. This allows them to develop synergy and harmony with each other which are useful elements for working together. Meanwhile, participating in team-building events helps promote empathy within a team, resulting in team members working better with each other and even discouraging ill feelings in the workplace. And we know what having better working relationships can lead to: better communication and increased productivity due to effective teamwork.

Here at CoTEN, for example, we have a basketball team called the CoTen Comets that regularly participates in games with teams from other companies. Our tenants are welcome to join the team and play in the games. While we don’t really have the skills to make it to the big leagues, we’re proud of the fact that our basketball team is able to foster camaraderie, let tenants know each other better and form strong relationships, and, not to mention, blow off steam and burn off a few calories the fun way!

 

Improved Workplace Wellness

 

The “all work and no play” thinking is not only detrimental to business, it can also be bad for your health. Being overworked can lead to a reduction in overall health and wellness and even affects creativity, employee mindset, and teamwork.

In a 12-year study of civil servants, researcher Marianna Virtaen found that working long hours each day more than doubled the risk of depression. These same individuals suffered a loss in cognitive function, had difficulty finding the right words, demonstrated significantly impaired thought processes and problem-solving abilities, and they were slower to react. Virtaen also found that executives who work three or more hours longer than a normal eight-hour day run a 60% higher risk of heart-related problems than those who did not.

Overworking is definitely a no-no, so why not spend some of those working hours on other, company-approved leisure activities instead? Taking advantage of leisure activities can actually lead to more success, especially for small businesses, and higher employee satisfaction. And, when employees are happy in the workplace, they also tend to avoid the effects of stress and anxiety better—two things that can increase the risk of having heart problems.

 

A Great Chance to Learn

 

Offering work community events can also mean having learning activities such as regular seminars and workshops. Aside from offering a break from the usual, everyday work agenda, these kinds of events also enable employees to mingle with each other and learn key insights or even great advice from industry experts they can follow to work better and smarter and be in-the-know when it comes to important and relevant trends.

Here at CoTen, we offer monthly Lunch and Learn events where we invite guest speakers to discuss and talk about a number of different interesting topics, from cyber-security to effective business strategies. This gives chance to our tenants to learn more things they can use to improve their work, be updated on important developments, and get to know other tenants as well.

By having these activities as part of the workplace culture, you’re sending the message that you value the professional development of employees which, in turn, makes them more satisfied in the workplace.

 

Building Trust and Productivity

 

Bringing together workers in one activity or event and letting them know each other better and work together builds trust. And, in business, trust is a key component for success. It improves communication and fosters collaboration, leading to a greater chance to achieving business goals. When you build trust, you enable people to work together better.

Leisure and recreational activities as well as learning and teamwork-based events at work also combat boredom and help keep people motivated. This allows them to focus more on their key tasks and even develop their problem-solving skills. Combine this with better communication and improved collaboration—two other advantages of having these kinds of events in the workplace—and you’ve got a great recipe for added productivity.

At CoTen, we not only offer great, quality workplaces you can be proud of, we also offer activities to keep your employees engaged and focused. From our monthly Lunch and Learn sessions to regular basketball games, we encourage and promote communication, collaboration, learning, and teamwork in our offices. All these lead to happier employees which, as we all know, is great for business. Liking what you just read? Contact us today to know what we can offer your business.

The Advantages of Working with Different Companies in the Same Workplace

The Advantages of Working with Different Companies in the Same Workplace

 

The Advantages of Working with Different Companies in the Same Workplace

 

The demand for more flexible office spaces is steadily on the rise. Office co-working and co-tenancy spaces, where groups of people working for different companies share the same general area, are becoming increasingly popular with freelancers, flexible workers, SMEs, and start-ups. This kind of working arrangement has many advantages especially over a traditional office setup—particularly for entrepreneurs who thrive on surrounding themselves with like-minded individuals.

But what is office Co-tenancy, and how can it benefit you and your business?


Office Co-tenancy Explained

 

Co-working or Co-tenancy lets small businesses and individuals rent out pockets of space within an office floor or building. This space can be as small as a single desked room—co-working rental deals are flexible enough to suit different business needs and sizes.

To encourage more growth for the co-working industry, there must be innovative Co-tenancy companies to provide the right services for businesses of different sizes, starting with start-ups and SMEs. Whether you outgrow your space early or you end up paying for surplus space, typical leases are usually too inflexible to best serve growing organisations.

Here’s where CoTen comes in. Unlike serviced office providers, we offer flexible and quality office spaces at competitive fixed rates for as long as you need it, letting you make the most out of your budget.

And, as we’ve said, one of the defining characteristics of office co-working or co-tenancy is the fact that you’re with different people and businesses in the same general workplace. It may not be obvious at first, but this arrangement brings several key benefits, such as…


Potential for New Clients

 

For growing businesses, co-working increases the likelihood of gaining new clients easily because the people or other businesses within the same general workplace might become customers themselves, depending on the situation. For example, if you’re a growing digital marketing agency, look around—you might just find a start-up sharing the same office floor who are in need of your expertise to promote their business.

And, since you’re already near each other, communication is made easier. What’s more, relaxed and welcoming co-working spaces make it easy for you to connect with your clients and form longer-lasting, profitable business relationships.  At CoTen, many of our tenants have formed business relationships with each other, and that does not include the even greater number who have been able to help other tenants by introducing them to their clients who are in need of different services.

 

Networking

 

They may not become your clients but the other tenants in the same co-tenancy space could become your partners one way or another.

This is because co-tenancy offers the possibility of connecting with other like-minded individuals within your workplace who, like you, are driven to succeed and open to new ideas. You’ll also be able to open yourself up to valuable contacts who may be able to push your business to the next level.

In other words, office co-tenancy puts you in a good position to communicate with other businesses from the get-go, since you’re already in the same general location. And, if you collaborate with your fellow tenant businesses, who knows? Maybe they can lead you to more leads in the long-term.


Synergy

 

There’s something thrilling about being with bright, active, entrepreneurial minds within the same location. Traditional office spaces usually don’t offer this and, in turn, may hinder expansive thinking. Not only can you find new business contacts, you’ll potentially get to know more people who will motivate you to do better, and it is always good to be surrounded by older, wiser heads who have seen a few business cycles, or whose expertise, being legal, financial, marketing or a host of other disciplines can be brought to bear on any issues you are experiencing over a cup of coffee in a break out area.

Overall, this kind of environment promotes a more active mindset that can produce more ideas. A co-tenancy space drives this, producing a culture conducive to more learning and different from the dull and boring traditional office setup.

 

A Sense of Community

 

You may not be technically within the same company but you and the other people in the same co-tenancy area have the same aim: to achieve business success. This allows you to relate with each other’s success and struggles, forming a solid sense of belongingness and togetherness.

Employees can discuss what they do in a general sense, their aspirations, and their hopes with others working for different companies in a non-competitive environment. Doing so helps relieve stress and contributes to having an atmosphere that values communication. This can also lead to more working satisfaction as those in the same co-tenancy space can look forward to a place of work where people listen, and each member is not a rival but is more of a comrade. Work can be lonely and isolating—especially withing SMEs or start ups it’s always good to have added support in the workplace, emotional or otherwise.


Inspiration and Support

 

If you have the right mindset, seeing other businesses grow and gain more success right in front of you will inspire you. Co-tenancy gives you front row seats to witness this, motivating you to work harder and smarter. You might also pick up useful insights along the way that you can use to improve your own business.

We all know how tough the commercial world can be. Start-ups struggle to get off the ground, market conditions change, and plans fall apart. Co-working introduces you to people who understand these unique challenges and can offer you some helpful, practical advice.

With these advantages—and we’re only talking about one facet of co-tenancy—it’s easy to understand why more and more businesses are considering co-tenancy. If you want to experience these benefits and more for your growing business, CoTen has you covered. With quality office locations in highly sought-after Sydney CBD buildings, we provide collaborative working environments at a fixed price to suit your needs. As the only co-tenancy providers of our kind in Sydney, we offer a community vibe you’ll find beneficial for attaining more growth, success, and worker satisfaction. Contact us today to find out how we can give your thriving business the perfect office space it deserves.