Third space: exactly what your office is missing
More and more companies are becoming aware of the vast importance of taking care of their employees. The stress and happiness levels of the people who work for you are key, not least because they dictate how productive they will be.
A 2015 study conducted by the Social Market Foundation and the University of Warwick showed that happier workers were, on average, 12% more productive.
Company culture has a big impact on employee happiness and productivity. One of the most obvious ways to start to build a contented workforce is to improve your office space.
This is where the third space comes in. Tech companies are leading the way here, with companies such as Social Chain, Adobe and Mother London all boasting impressive examples.
But what is the third space?
The third space has traditionally been the title given to social spaces outside of the home or office. This usually encompasses less formal locations such as cafes, bars and community spaces.
Your local coffee shop is a great example of a third space. It’s a flexible location where you can meet with friends, relax with the newspaper or even get some work done on a laptop.
Though in the past third space has existed outside of the office, many companies are now coming round to the wisdom of incorporating it. Multinational giants such as Google and Amazon have long understood the importance of this, and now SMEs are starting to pick up on it too (take a look at some of the other things we can learn from inspiring office spaces here).
Adding a third space doesn’t have to be complicated. It could be as simple as refurbishing an existing breakout area with an attractive design and comfortable seating.
Why is the third space so important?
Not sure why the third space is key? Below we’ve listed its main benefits:
1. It makes employees happier
It’s not rocket science: the better your office space, the happier your team members will be to spend time in it!
2. It boosts productivity
The happier and more engaged your employees are, the more productive they’re likely to be. There is also scientific evidence to suggest that providing a space for employees to take quality breaks can make them more productive overall, increasing motivation in the workplace.
3. It promotes collaboration, innovation and new business
Having a space away from desks where colleagues and associates from different teams can mix, meet and chat with others promotes collaboration and better cross-team communication.
The chance conversations that can happen in this environment often lead to innovations and better ways of working, and even new business, particularly where the third space is shared with other organisations.
4. It can encourage creativity
The Staples 2016 Workplace Index survey reported that only 36% of workers consider their desk the most inspiring place to work. Providing an alternative space could help the other 64% get the ideas flowing.
5. It can attract new talent
The way we work is changing. Millennials generally prefer to work in well-designed, flexible spaces. Choosing an office with a third space offers more flexible working opportunities, and this is likely to attract new talent.
6. It can encourage employee loyalty
Not only can a well-designed workspace attract new talent, but it’s also likely to help you retain the talent you already have.
How important is the third space at WorkWell?
We are big believers in the importance of the third space.
Our serviced offices in Leeds have the benefit of 4,500 square feet of shared third space. This consists of informal breakout areas designed to be flexible spaces for team members to meet, collaborate and work in.
How would you and your team make use of this space? Come for a visit and find out: we’d love to show you round.