Co-working is the latest fad that has revolutionizedthe work culture around the world. The winds of change has also reached Indian shores and a country with second largest labour force in the world and has found quite a few enthusiastic takers.
Indeed, the corporate India, particularly in tier 1 cities has found the whole idea of co-working exciting. A posse of start-ups and modern generation of workersprefer flexible work environment and it is their initiative that has seen the mushrooming of co-working spaces in these cities.
In fact, start-ups warmed to the whole concept of co-working before others. However, though they were the first to notice the utility of co-working they were quickly joined by corporate houses, MNCs, media houses, etc. all of whom woke up to the utility value of co-working spaces. This led to the popularity of co-working space grow exponentially.
Now any concept like co-working that enjoys such tremendous fan following around the world need a careful analysis about the reasons that makes it so popular amongst start-ups, SMEs, freelancers, and entrepreneurs etc.
Some of the prominent reasons that make co-working such a rising rage globally are:
Co-working Presents An Economical Option to Leasing And Renting
The prices of commercial spaces have boomed beyond many businesses. It is particularly difficult for start-ups or for those who are yet to make it big to lease an office in an urbanized locale. For all such parties co-working has emerged as very viable option that can be availed merely by paying a small rent for your seat. On top of itone can also use the numerous facilities available here like meeting rooms, printers, etc.at economical rate or no additional cost. It is for all these reasons that co-working has emerged as one of the most feasible optioneven for big companies who want office space for their employees.
A Wonderful Flexible Option
Of late there is a marked shift in the way the modern generation of office goers want to work. Flexible timings and a casual and relaxed work environment is much in demand. Offices that offer such a setting are successful in keeping the attrition rate low. Co-working has emerged as a wonderful and effective option to achieve such an office environment. Just step into any co-working office space and you would be greeted by colourful interiors and lively settings. Any organization that offers such a working environment to its employees witnesses a marked improvement in the overall quality of their output.
Scaling Up Or Downsizing Pose No Hassles In A Co-working Set Up
One of the important reasons why traditional offices are losing out in favour is because of the scalability problem. Those who rent a traditional office space could not enhance or downsize their team at their will. If they want to enhance their team then they will have to move to bigger place.A fresh lease for a new office would have to be worked out which would then have to be set up for operations. Needless to say that such a move would require vast expenditure.
On the other side, if the decision is to reduce or downsize the team and not to move out then the organization would have to continue paying fora space that would be bigger than the actual requirement.
Such an issue will never arise in a co-working set up. Teams can easily be increased or downsized as per requirement.All that will be required will be to rent out a few more seats to accommodate the growing team or let go of a few seats to downsize it.
Availability of Top Facilities Tilt The Scale In Favour Of Co-working Spaces
The facilities available at co-working spaces are by no means inferior to those found in a corporate set up. Be it conference rooms, special event spaces, Wi-Fi, printers, whiteboard walls, lockers, coffee machines, cafeteria, relaxing zones, etc. are all available in co-working spaces. Needless to say that the presence of such utility services is a big draw as employees, whichever organization they belong to, would not have to compromise on anything because of working in a shared office.
It is for all the above-mentioned reasons that co-working space has emerged as one of the rising trends in at least the tier 1 cities of India.
Stay tuned to SMC Realtyfor similar exciting information on the rising trends in the businesses in India.
