I recently read an article about a man who was working from Indy Hall in Philadelphia for a company in Vancouver. Teleworking is not new these days and even working for a company located elsewhere on the globe isn’t that earth shattering with the technology for communicating 24/7. What was brilliant about this man’s story was that he had figured out how to get his corporation to pay the $275/month membership fee for him to work their full time. It’s a win-win for the corporation and the employee. Let’s do the math:
A corporation typically pays for about
- 200 sq. ft. for each employee – cubicle + hallway + breakroom + cafeteria + restroom + dead space like lobbies.
- $4.00/sq. ft (minimum/month) – Rent + taxes + utilities
- 200 sq. ft. * $4.00 = $800/month per employee
- $800/month per employee – $275/cost of employee working in coworking space = $525/month savings
Now a company that employs 1000 people, if they had just half of the space in corporate office and let their workforce telecommute 50% of the time they would save $262,500/month ($525 * 500 employees) and $3,150,000/year. $3 million per year is not small potatoes and a great way to cut back.
The employee also saves money on gas But more importantly this employee benefits in intangibles such as lack of commute stress, living where his spouse needs to for her career, the community created in a coworking environment, and as a result is happier and more productive for his company. We would all benefit from more people using coworking spaces (checkout a list of my favorites). Of course, as the owner of Cubes&Crayons that’s my favorite for coworkers with and without kids. I love it when everyone wins!