While many argued initially that coworking was simply a movement and as any other trend would eventually fade away, the onset of the pandemic proves otherwise and has instead solidified its position as a superior workspace solution.
Today, coworking spaces are an entirety within themselves that has completely changed the dynamics of how companies lease and utilize office space. As the market for coworking spaces has grown and the industry advanced, people now use coworking, flexible workspace, and shared workspace to suggest the same.
However, despite the terminology used, these flexible furnished offices for rent are here to stay. Studies indicate that coworking spaces could most possibly be the ‘new normal’ of workspaces. And we couldn’t agree more!
Coworking spaces are the favored options of today’s workforce. As more businesses turn to flexible work options post-pandemic, coworking spaces are helping integrate hybrid work models in provision to the demands of remote employees across diverse territories.
Here are a few main drivers fueling the growth of coworking spaces in India:
This may just be the most obvious deduction as to why people choose coworking spaces! These spaces help you save exponentially while providing you access to upscale business amenities – all inclusive! This includes services like ergonomic furnishings (office desks & chairs etc.), business-grade fast Wi-Fi, state-of-art communication technology, IT support, exceptional service staff and so much more.
Additionally, coworking spaces are usually located at prominent business locations and commercial zones within the city. This is highly advantageous as businesses can bank on increased accessibility, connectivity, and visibility in front of their target audience. For small businesses, coworking spaces extends an attractive opportunity to match the larger players with profitable offerings.
Current Employee Demography
India is known to have a relatively young employee workforce. What research indicates is that in the next five years, millennials and upcoming younger employees will make up almost 50-75% of the workforce.
This upcoming workforce prefers to work in cost-efficient and technologically progressive workspaces – a far cry from the conventional offices that are on the expensive side as well. Fully furnished coworking spaces however offer sophisticated, state-of-the-art Offices at reduced, all-inclusive pricing.
The Gig Economy
The increasing shift towards shorter, assignment-oriented employment rather than long-term permanent jobs has slowly started becoming a norm with the modern workforce. Its rising importance can be attributed to the rapid growth of startup culture, the young demographic of the millennial workforce, and the changing preferences for more flexible and meaningful work.
Over the years, this style of working has slowly been absorbed into the mainstream and is recognized by employers as well.
Most gig workers naturally don’t require permanent office space. This immediately brings coworking to the forefront as it offers a flexible and cost-efficient solution — a simple plug-and-play office solution. Coworking spaces also provide access to professional office facilities like ergonomic spacing solutions, top-class IT infrastructure and support, complimentary meeting rooms, support staff on-site, community events, networking opportunities, and so much more!
Convenient Pricing Packages
Coworking spaces generally work on a pay and use model which means a business only has to pay for the facilities and/or services they need and also have the flexibility to add on more later as required.
This makes it convenient because, for example, a larger enterprise may need a meeting room often while smaller businesses and freelancers may require other essential services. However, it’s always accessible to add on to their package at a later point in time. This supports businesses in minimizing wastage of resources and be more meticulous in noting their expenditure.
Power Of Collaboration
The greatest advantage today is the fact that we live in an economy fueled by ideas and the collaboration of diverse people coming together for execution. Coworking spaces in this reference play a significant pioneering role in encouraging collaboration by allowing professionals across diverse industries to work within the same workspace.
The synergy within professionals of diverse expertise and knowledge areas brings new ideas and opportunities to the surface. Today’s new-gen workforce believes in this mindset.
At Workafella, furnished office spaces for rent, cater to the needs of the aspiring, rising next-gen workforce who value sleek, contemporary tech-automated spaces. Book a tour with us today to join the ongoing evolution of workspaces!