Prestigious vehicle manufacturer Jaguar Land Rover is one of the latest major brands to choose shared office space. The company has headquarters in Coventry and an estimated revenue of £22.984 billion. With more than 36,000 employees in the UK, it has opted for coworking space as an alternative to leasing costlier private offices.
Following a merger between the two well-respected manufacturers, Jaguar Land Rover was founded in January 2008 – Jaguar had been in operation since 1935 and Land Rover since 1948. The company continues to develop, manufacture and sell vehicles with both Jaguar and Land Rover marques.
Why did Jaguar Land Rover choose coworking space?
While shared workspaces are often considered the forte of technology companies, Jaguar Land Rover has revealed why it’s a supporter of flexible offices.
The company has a number of manufacturing bases across the UK, in addition to its headquarters. Its aluminium body shop (the biggest in Europe) is based in Solihull. Other premises include the Halewood plant, in Liverpool, which is home of the Range Rover Evoque and Land Rover Discovery Sport.
With major engineering and design sites at Gaydon and Whitley, as well as an engine manufacturing centre in Wolverhampton and another engineering base at Fen End; when Jaguar Land Rover needed additional space, it wanted to avoid the expense of leasing private offices.
Another reason for a move to a coworking space was the ability to work on more innovative projects, including its InMotion Ventures investment firm. The company, an early-stage investor, helps founders who are developing solutions for personal transportation and travel.
Large corporations choosing shared office space benefit from the flexible contract terms, enabling them to house employees temporarily or work on short-term innovative projects, without having to make a heavy investment in a private corporate office.
What methods does Jaguar Land Rover use?
Large-scale corporations and corporate remote workers make up around 36% of co-workers today. In the past, the average client for a coworking space was a five-person start-up that required desk space for a few months. Today, more businesses with 50 or more employees, including large multinationals, are renting space for around 12 months or more as they recognise the benefits.
A traditional office lease is normally ten years and involves significant upfront costs. This isn’t a good fit for many businesses today, as they often need to be able to move in, or out, of their office within a few days. A coworking space can make this possible.
Jaguar Land Rover began using rented coworking space in 2018, hot on the heels of other major corporate brands, such as Monzo Bank and mortgage broker Trussle. In addition, Jaguar Land Rover created its own flexible workspace in 2016, when it announced its new, independent, design-led, start-up hub in London to foster creative development.
Recognising the need for more eco-friendly vehicles, it started exploring how it could help the environment in other fields through InMotion.
The flexible workspace is geared towards tech start-ups focusing on transport and smart-city innovative developments. Based on Curtain Road, Shoreditch, the InMotion space is a new concept. Start-ups using the space are required to develop on-demand services and build apps that Jaguar Land Rover can use to support its other products.
Featuring a lounge and event space located on the ground floor, plus workspaces and offices on one upper storey; according to bosses at InMotion, the managed workspace was designed to appeal to both the corporate and start-up markets.
It was intended to offer the best of both worlds, becoming a flexible workspace where entrepreneurs and start-ups would feel comfortable, as well as larger corporates and investors. The company believes it has managed to create a good balance between the two.
Do overseas employees use shared office spaces?
Satisfying the international market for certain models; Jaguar Land Rover also has factories overseas in countries such as China, Brazil, India, Hungary and Slovakia. The company’s policy for all its employees is to offer flexible working opportunities, enabling them to have a perfect work-life balance.
While many large corporations like Jaguar Land Rover are moving into shared office space to take advantage of the many benefits, coworking spaces also remain a hub for start-ups, freelancers and small businesses. If you’re wondering if there’s a coworking space near you, contact Headspace Group for information on our services – we provide high-quality coworking environments for businesses.
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