Talent Retention and the Co-Working

In today's rapidly evolving work landscape, organisations constantly face one specific challenge: how to attract and retain top talent. According to Mercers' Total Remuneration Survey, Thailand is experiencing a notable increase in voluntary attrition rate, with a steady rise expected to reach 10% in 2023. This trend underscores the urgency for innovative strategies in the country. If companies aim to retain the cream of the talent crop and attract others like them, they must embrace new ways of working and of supporting their people.

In the Global Talent trends (GTT) Study 2023 by Mercer which surveyed 2500 HR leaders globally, one of the key findings include the need for employers in Thailand to enable new ways of working for employees.

Traditional offices no longer cut it. A dynamic and flexible environment to create an engaging and productive workspaces to keep their people happy, healthy, and motivated is necessary. This is where co-working comes in.

Co-working offers a host of benefits, from flexible, beautiful workspaces through to well-being and opportunities for connection. By understanding these benefits and implement them effectively into business organisational strategies, companies can foster a culture of collaboration, enhance employee engagement and build community. 

It is a sustainable solution to achieving business success in the modern workplace. 

Spaces that inspire

Let's first talk about the physical space. Who doesn't want to work in an office that looks good? When it comes to talent acquisition (and retention), there's no doubt that an appealing workplace plays a role. Inspiring workplaces - especially those that cater to different ways of working - inspire people to get into that flow state that's so vital for great work, and creative solutions. 

And you don't have to be a Fortune 500 company to offer a well-designed space for your employees. This is where co-working spaces come in. The Great Room, for example, simply oozes inspiration. Designed by expert design teams, each of The Great Room's outposts takes a five-star hotel approach to style that blends with comfort, plenty of natural light, excellent amenities and high functionality. The result is an experience that fuels creativity and innovation; a winning combination that's a natural magnet for top talent. 

Cultivate community and collaborative culture

With a majority of Americans now embracing hybrid work and over 70% of employees intending to broaden their hybrid working arrangements in the next three years, the statistics reflect a significant shift in the way we perceive the workplace. While remote work is becoming a permanent fixture, it lacks one crucial element: the capacity to foster meaningful connections with others. Though the figures are somewhat lower in Thailand, the trend signifies a revolutionary change in our approach to work. The office continues to serve as a vital space for interpersonal connections, playing a pivotal role in attracting and retaining talent.

And this is where co-working excels. In co-working spaces like The Great Room's, a steady stream of monthly events is served up to members and guests - there are salon sessions on AI, masterclasses on media storytelling, Great Thursdays where members get to network, wellness days and much more. It's all an opportunity for members to learn something, and to meet and connect with others at the same time. 

In a separate survey by Robert Walters, employee experience is cited as one of the key components in the talent strategy model. All of this lends itself to a sense of belonging in cultivating a collaborative spirit Working alongside other businesses, all at different stages, but all working hard, builds that sense of camaraderie and a feeling of being "in this together."

Such a collaborative ecosystem is a breeding ground for innovative projects - and a major drawcard for top talent looking for a place to thrive, and to make a positive impact. 

Foster well-being

Well-being is a hot topic, especially in the context of work. 

Good health spawns a host of other follow-on effects. Better health means less sick days, boosting presenteeism. When people feel better, they work better, enhancing focus and productivity.

Co-working spaces are designed with well-being in mind, ultimately boosting employee engagement and attracting top talent

Purpose-built wellness spaces such as yoga rooms give members access to yoga and mindfulness sessions, promoting relaxation. Co-working spaces like The Great Room also run a host of other wellness initiatives that run the gamut of physical and mental to emotional and spiritual wellness. From corporate wellness days to breathwork sessions there's something for everyone. There is no need for companies to look for extra resources to work on employee well-being.

Perks and amenities: the icing on the cake 

When organisations are looking to attract the best of the best, it's crucial to be able to demonstrate the unique selling points of a workplace.

Co-working puts it all at your fingertips: enterprise-grade, high-speed internet connectivity, state-of-the-art tech, swanky meeting rooms and barista-prepared artisanal coffee. Let's not forget the rejuvenating wellness areas, dynamic calendar of events, and a range of locations to work in rather than just one single office. 

At The Great Room, there's also Monday Breakfast Club, which transforms the Monday blues by giving members access to free breakfast and coffee every Monday morning. Furthermore, select locations, like the Grade A building where The Great Room is situated, even feature access to fitness facilities such as gyms and pools, along with scenic rooftop gardens.

Elevating organisations to new heights

Tapping into the realm of co-working can help organisations get on the fast-track to attracting (and retaining) superstar talent, thereby taking their business to new heights. 

From events and amenities to fitness, five-star style and flexible workspaces that support all kinds of work, co-working spaces foster collaboration, innovation, well-being and a sense of community - everything a business needs in order to build a talented, motivated and engaged workforce