The coworking phenomenon has already taken India by storm – we are witnessing the continual proliferation of coworking spaces at a rapid rate as we speak. As per a recent survey, the number of coworking spaces is likely to spike between 40% and 50% in 2019, wherein roughly 13.5 million Indians will be working in coworking offices by 2022. These spaces will sport a diverse workforce, including massive conglomerates, freelancers, and startups. While traditional office spaces still dominate the Indian landscape, it is only a matter of time for things to change. More Indian professionals are riding the coworking wave due to its affordable, flexible, and accessible nature. Here are some concrete reasons behind the same:
The Coworking Culture
A shared office space promotes a coworking culture which is all-inclusive, diverse, and community-driven. The individuals working in a coworking space define the environment they work in. People hailing from all walks of life come together, which helps enrich the coworking culture, as each individual adds value to the space in their own way. This also paves the way for new ideas, fruitful collaborations, and sustainable business associations.
Some individuals might argue that coworking spaces cannot be personalized as per brand requirement. On the contrary, these spaces can be customized to a greater extent. Coworkers can choose the kind of desk they want to work at, the kind of stationery they want to work with, and flit between different areas of work that are designated to their company.
Compelling Attraction and Retention of Talent
The millennial generation prefers maintaining a healthy work-life balance, due to which, they are more inclined towards flexible working hours, as opposed to fixed timings. They also prefer offices that are well connected and strategically located near major metro stations. Due to these reasons, coworking spaces are able to attract and retain talented professionals, who work on their own terms and are able to achieve better. Collaboration, coupled with the influx of fresh and diverse perspectives, makes coworking a sustainable option for the millennial generation.
Easier, Convenient Office Set-Ups
Startups looking forward to expansion often face the issue of funds, along with rigid, long-term lease agreements. This issue has been eliminated with the advent of coworking spaces, as companies of all scales do not have to worry about operational and overhead costs. Coworking has facilitated instant and effective expansion for companies while offering full-fledged office environments replete with basic and advanced amenities.
Coworking spaces offer many locations to choose from, wherein members can opt for an office as per proximity, amenities, meeting rooms, etc. Locations can also be switched as per need or preference – individuals or teams can collaborate with members in a different location to facilitate productivity and seamlessness.
Hence, these factors are reasons enough for India to surf through the coworking wave. Whether we discover new islands of innovation or ride bigger waves in the future, can only be narrated by the sands of time.