The COVID-19 pandemic has changed the world of office work, with many companies switching to either a fully remote or hybrid work model in the past year. Although remote working appears to benefit the employee, it also provides many advantages for the employer, particular from a cost-reduction perspective.
Leasing Costs
One of the most obvious cost-savings for businesses associated with remote working is reduced lease costs. For start-ups and early-stage companies, reducing lease costs can be a real game changer. For these smaller companies, the burden of signing a 5-year lease on an office space can be a big commitment, with the fear that your team might not grow at the speed that you anticipated. At NoCo, companies of all sizes benefit from our 30-day contract, no commitment model. Teams can gain access to over 20 spaces, all of which offer dedicated workspaces, secure WiFi, meeting rooms and utilities.
Reduced Overheads
Alongside the larger reduced lease costs, companies can benefit from smaller cost savings associated with leasing office spaces. Employees working from home or from a co-working space results in lower overhead costs such as lower utility bills, office supplies and cleaning services. Most co-working spaces include all costs in the monthly membership fee, ensuring you can project the exact costs per month.
Less Employee Turnover
From a recent survey by Whitaker Institute, 94% of over 5000 respondents would like to work remotely after the pandemic. With the tools and resources available for remote working, you can empower your team to work from a location close to their home, while building a company culture you can be proud of. Giving your team the opportunity to work remotely reduces their daily commute, allows them to work more flexibly and save money on out-of-pocket costs, such as work clothes and lunches. These benefits allow for a happier and more productive workforce, reducing employee turnover and saving the costs associated with recruiting, hiring and training new employees.
If you are thinking of managing a distributed team, the coworking model seems like an effective approach for you. NoCo is Ireland’s largest workspace network, giving your team access to over 100 workspaces with unlimited flexibility. NoCo connects your team to a network of close-to-home workspaces across Ireland, with one membership;
- Sign your team up to one of our part time, full time or private studio plans based on their individual needs.
- Select your team’s local workspaces from our network of over 100 partner spaces across Ireland.
- Leave it to us to onboard your team into their local workspaces providing a seamless day one experience.
- Easily manage your network with a simple predictable flat rate per member pricing, ultra flexible 30 day contract and dedicated support team.
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