CommonGrounds Protecting Employees and Taking a Unique Approach in the Face of COVID-19
n the wake of COVID-19, we at CommonGrounds, like many other companies, find ourselves thinking critically about how we can hit profitability while protecting our valued employees. The full economic impact of the coronavirus pandemic remains to be seen but analysts agree we are likely moving toward a deeper recession than we have seen since World War II. Most financial and corporate sectors are poised for widespread decline and quickly climbing risk aversion across groups of investors will play a big role in halting the traffic of capital into new and existing markets.
So, how does a company like CommonGrounds make smart choices for our balance sheet while trying to fight for the people who make our organization what it is?
• CG is looking at the long view, not searching for quick wins to keep our bottom line looking impressive in the short-term. We are working hard to protect our people in strategic and creative ways. We know that often, major disruptions to the economy later provide an opportunity for market-beating returns – and we remain very optimistic about our success when the pandemic winds down. Our leadership team continues to look for innovative solutions to the problems presented by COVID-19 so we can sustain our business model and continue to grow.
• We see people as more than just numbers. Our employees each bring a unique skill set and deep market experience that help inform our strategy and make our product unique to the industry. They have families to support, mouths to feed and houses to pay for. We are proud to say that we have not laid off a single individual in the wake of this pandemic and we intend to stay creative so we can keep it that way. As we see it, human beings are not an “expense”, rent is.
• We are optimistic because the CG offering is unlike any other in the coworking business; we are not repeating someone else’s business model, we have identified an opportunity and created a diverse, dynamic product that satisfies a host of human needs for the remote worker. CG will emerge from the pandemic with an even stronger position given the quality and relevance of our product. Now more than ever, people seek coworking space that incorporates natural sunlight, plant life, ergonomic equipment and inclusive, collaborative environments.
• We are pleased to launch a new suite of products, BECG, that supports the modern enterprise customer. BECG addresses the challenges we have observed across the CRE community and bridge strong relationships among landlords, providers and occupiers to broker mutually beneficial arrangements. We can help customers source the next workplace hub (or spoke), we can transform vacant real estate into revenue and can help manage existing coworking spaces using our Workplace-as-a-Service model. We want to take relationships in the flexible office world to the next level – so that everyone wins.
• Businesses are quickly learning that the traditional definition of corporate office space is less effective as employees prove they can be just as productive from home. Rigid structures with fixed walls and heavy internal infrastructure make it costly and time-consuming to adapt workspaces for changing business needs. CG recognizes these pain points and have addressed these; the architecture of our office spaces is designed with a dual-paned, acoustically secure, demountable wall system, made by our partner Tecno. Each wall is physically able to be moved in a matter of minutes. The reconfigured layout is quickly reorganized with the furniture, technology, infrastructure, and dynamic services to adapt and shape to a company’s brand.
• The flexible aspect of the CG workspace model will help organizations adapt as they change in size following COVID-19. Many companies may need less space at first, while they navigate the effects of downsizing and financial fallout. Those companies will need to adjust to new social distancing measures when quarantines lift. Over time, as our clients experience growth again, we will flex with them to accommodate evolving needs. CommonGrounds is the only provider to offer a physically flexible space and term flexibility. Adding further value, CG workspaces offer more square footage per person than the industry standard. Because of our desk sizes and communal spaces, our patrons enjoy 100-120 square feet per person for enterprise workplace customers which is as much as double what other operators provide.
COVID-19 has presented a major challenge for most for-profit organizations but few are thinking differently and looking for unique solutions. CommonGrounds is proud to take a unique stand in these times, staying optimistic and innovative as ever and doing all we can to protect our people and keep our business growing.
