By Akshita Gupta
With new COVID guidelines and safety norms, flexible co-working spaces in India are growing at a rapid speed. Due to three consecutive COVID waves, the companies have created a flexible workplace scenario comprising a combination of hybrid models and flexible work options. They are further refocusing on their working culture and are making a complete transformation of offices to smart spaces making co-working spaces a strong alternative to conventional offices. According to a report titled “Technology Reshaping the Future of Work: India Perspective” published by NASSCOM, 93 per cent of tech organisations in India are looking at adopting hybrid work model beyond the pandemic.
Apart from flexibility in rental periods, affordability, enhanced convenience, ability to increase / decrease the size of seats while resizing the team, etc. some of the key drivers for the growing demand of shared services have been discussed below:
- Growing demand for digitized satellite offices: Co-working office spaces are focusing on embracing technological advancements to meet the growing and changing requirements of IT and Tech companies. Driven by Gen-Z workforces, these companies are setting up multiple satellite offices across cities including Tier1/2 cities to ensure that employees can work from their hometowns. They are also focusing on enhancing the experience of employees by providing add-on services such as health and wellness facilities at their work locations without too much hassle. The report by NASSCOM says nearly 70 per cent of organizations in tech industry in India have adopted a hybrid work mode while 63 per cent of Indian enterprises have ramped up investments in hybrid cloud services.
- Greater adoption by start-ups and freelancers: In the past couple of years, there has been a growing demand for coworking spaces amongst start-ups & freelancers in India. Flexible rent options, superior infrastructure, community networking opportunities and enhanced convenience are some of the prime factors for self-employers and startups to opt for such spaces. They can now get ‘Uber cool’ office spaces at an affordable price – A perfect blend of smart investment and tangible benefits that helps them grow and spend their wealth in the hiring right resources and expansion.
- Entry of real estate players: With the growing popularity of co-working spaces, real estate companies have also started taking interest in this sector. Many of the established players are offering shared spaces / business centres in big cities where corporates can opt for the entire facility and change the interiors to suit the requirement. Some of these real estate players are also joining hands with co-working space providers. With trusted names and world class services, clients are also encashing on this opportunity.
- Adoption of technology: Mobile apps, visitors management systems, touchless sensors, biometrics, CCTV surveillance, use of the internet of things for asset management and improved indoor air quality with plants and motion sensors on lighting are some of the tech interventions that coworking spaces have been adopting. With such advanced offerings, co-working spaces are helping corporates in ensuring the safety of their employees.
- Workspace management: ‘Experience’ is the single biggest differentiator that can make a brand stand out in a service industry. To ensure this, co-working spaces are offering tailor-made packaged solutions to their clients. Hence helping them manage their workplace issues by offering desired seating arrangements and round-the-clock amenities such as housekeeping, pantry assistance etc. With half of the workplace challenges taken away by coworking providers, companies can focus on the overall growth of their employees and boosting productivity. With seamless technology integration and extensive corporate grooming sessions companies now ensure that the workforce is engaged and rejuvenated.
Considering the pace at which coworking industry is growing, India can soon witness a huge growth in the segment. While these providers offer affordable and smart workspaces with world class amenities to professionals, employers on the other hand are testing with satellite offices empowering workforces operate from their preferable locations; their collaboration will elevate the growth trajectory of the coworking sector to unprecedented heights.
(The author is CEO, ABL Workspaces. Views expressed are personal and not necessarily that of FinancialExpress.com)
