It’s been a while that interestingly, even large corporations and multinational units have shown keen interest in working out of a managed office space.
Coworking spaces have been mushrooming all over the world. The members enjoy the vibrant, non-working, collaborative, and equipped environment. The modern and support services such as great Wi-Fi, air-conditioned place, nicely decorated walls, printer/scanner, cafeteria, It staff, housekeepers and everything one might need to carry their business operations smoothly. Even after the list of offering a coworking space brings on the table, the managed office spaces were for a long time (even now) seen as only the place for the startups, freelancers and small businesses.
It’s been a while that interestingly, even large corporations and multinational units have shown keen interest in working out of a managed office space. The huge businesses that can easily have their own multi-story building constructed with a staff that can manage right from cleaning to maintain the entire premises but with the shift in how the people want to work, they have also moved to the shared workspaces. Yes. You will find coworking space in Noida, Bangalore, Gurgaon, Delhi, Hyderabad and wherever there are a range of companies operating from. The clients taking advantage of the entire coworking ecosystem are not only those who are tight on budget or who have just started new but also those companies that also have expatriates around the globe.
Not all shared office spaces can attract multinational and huge corporations to be their members. There are certain managed office space providers that have branches across the country, have greater bandwidth, have the capacity to accommodate hundreds of clients and thousands of members and can afford a staff for the smooth operations.
Corporate Coworking Space Trends
Corporate coworking has been trending lately due to the pandemic environment where organizations and entrepreneurs have gotten used to the remote workstyle. Besides the visible benefits in terms of operational cost savings, broad spectrum of top talent available to be hired from overseas, work flexibility, productivity increase, the organizations have started to see the health and happiness of their employees as well.
1. Coworking Space Providers are Levelling up
COVID-19 pandemic and the subsequent lockdowns has left Coworking Space providers with large amounts of empty spaces. The average occupancy of co-working operators —both large and small— has significantly dropped. These operators are levelling up their business to attract big corporations by preparing irresistible offers for these underutilized real estate spaces. Due to the pandemic\’s uncertainty, coworking spaces (CWSs) are looking at offering:
- • Private serviced offices
- • Long-term and short-term leases
- • Customizable shared workspaces
- • Flexible offices that grow with the company
2. Field-centric Coworking Spaces
Amid the pandemic crisis, the real estate market has become volatile. To survive in a highly competitive environment, where many of the coworking operators have disappeared, the others have entered a price war. The coworking spaces need to evolve and prepare for more flexibility, both in the current situation and post-pandemic. By recognizing the accelerated demand for hybrid work culture, these must adapt suit to a group of entrepreneurs or a certain industry niche. For instance:
- • Coworking spaces for parents,
- • Women-focused coworking spaces,
- • Pet-friendly coworking spaces,
- • Spaces for digital nomads and IT geeks,
- • Food-focused coworking,
- • Rural or countryside coworkings, etc.
3. Innovation & Diversity
To succeed with a coworking space in a cut-throat competition, the CWS providers need to be incredibly innovative and experimental with services, offerings, and space designs. They must demonstrate what makes them stand out from the rest. Coworking members expect value-addition to the basic facilities provided by any coworking spaces. Whether it is offering them new solutions that might help to cope with the workload intensity or help maintain a healthy work-life balance amid the pandemic stress and uncertainty.
4. Mobile-first Mindset
It is widely noticed that digital commerce has and still continues to conquer the world. Gen Y and Z, who comprise a lot of coworking space members, have their life revolving around their smartphones. Right from making digital payments, to online shopping or even ordering food, everything is done using mobile applications. The users expect a great digital experience where they can have a virtual tour of a coworking space, instantly book desks and meeting rooms, apply for coworking day passes and events, communicate with peers, share feedback, etc. Optimizing the workspace website for mobile users and/or having the workspace mobile app for easy access by the end users is of extreme importance.
5. Out-of-Box Services
Coworking spaces are evolving into community hubs that promote business growth and individual wellbeing. Besides providing their members with basic services and peripheral amenities, they must strive to provide additional services that cover not only the professional but personal needs of people. Some of the top coworking players have come-up with out-of-the-box services to elevate their level of services and boost members’ experience, such as
- • Personal Assistant
- • Airport Pickup
- • Personal Wardrobe Stylist
- • Pet Groomer
- • Lawn Care
- • Spa & Salon
- • Bill Payments
- • Car Mechanic
It’s a managed space!
Large companies are always looking to expand. While they are on their path of growth and development, they need more people and hence, more space to get all those employees seated and work. The managed office spaces, as their name implies, are maintained workspaces where you just have to move in with your staff and focus only on the important work rather than shifting, buying, installing, fitting, repairing and so on. Yes, those companies have a lot of money but do they have time to spare? No!
This becomes an important reason why the coworking space in Noida or any other industrial hub have a unit of MNCs and industry giants sitting with them. One true quality that makes the fully-furnished office spaces stand out from the traditional workspaces is that they just don’t take your money and give you a property to take care of all the hassles look after but rather they do it all for you so you don’t waste your precious time over petty things. Isn’t this so thoughtful and helpful at the same time?
Cost-effectiveness
Also, even if those establishments have a fortune with them doesn’t mean they wish to spend all of it. Who doesn’t want to save and make profits after all? The shared office spaces are amazing in saving the businesses a great deal of time and money irrespective of the nature and size of the venture. When everything is already arranged for, when the infrastructure is supportive enough and you can get all the facilities you ask for to help your work continue without any hiccups, you know you want to go for a managed office space. They only ask you for the membership plan you choose or the number of seats you opt for and in return shower you with all the encouraging and helpful amenities one can require at work. Hence, very reasonably priced. They also provide you with the cafeteria, parking, GST registration and other useful services that would otherwise be very expensive and bothersome.
Employee convenience
Any coworking space in Noida or any other city is generally located in a very prime location that is easy for daily travelers to commute. The offices are established keeping in mind the comfort and safety of the members. There is an availability of all the urban amenities around the premises, the road and metro connectivity is perfect and the place is generally accessible to all those coming up every day. The good thing is that most large corporations hire multiple coworkings so their employees have an option to choose from the most suitable one for them.
Productivity and motivation
There are two kinds of workplaces; the one where you have to go and the one where you want to go. You don’t have to get yourself to wake up every day to get ready to go to a place you go to just for the sake of salary. The coworking spaces are so cool and swanky, you love being there every day. The beautiful interiors, interesting décor, vibrant & positive vibe and a healthy atmosphere have a direct impact on your mental health. When you love a place where you spend major time of your day, you want it to be worth it. The managed office spaces are known to increase productivity and increase efficiency.
Market testing
Huge companies have big projects and for each one of the products or services they launch, they do many rounds of market testing. Another incredible benefit for the large corporations to operate from fully-furnished offices is that there is an in-house diverse market to test their product and get the feedback. Sure, the sample size might not be as large as you need but the diversity in the audience and their feedback can be really helpful. The variety of the businesses and the industries working from there would be of surprising help to help you with surveys and suggestions. You can do this in every location your business teams are working from and you will end up having quality data in hand.
Talent retention and employee engagement
People working in an interesting office tend to stay there for long. Coworking space in Noida, Nungambakkam, Pune or any other location would have a vibe that cannot be traded for a regular office. The unmatched and energetic aura of a managed office is one reason the employees love being there. Members have agreed that they have stayed for a longer tenure in a coworking space than a traditional one.
Also, the shared spaces frequently arrange various kinds of events for the entertainment and benefits of their members. Education events (taxes, bitcoin, robotics, etc) fun events (games, music, art, baking, etc) birthday events and others are all organized for the engagement of the clients and to do some team building activities that they might generally not be looked after by their own companies. Happy clients stay longer and are more productive.
Here, we’ll repeat the point that the coworking spaces offer all the facilities that a business can require. There is a meeting room that you can use for those important client meetings or group discussions. There is a printer and scanner for every time you need them. The cafeteria is always equipped with the material so the supply doesn’t stop. The housekeeping staff is always on their toes. The IT professionals are always there to help. The front desk people not just greet you well but your visitors too. The event space can be arranged for your product launches and important occasions. Needless to say, the Wi-Fi and air-conditioning facilities are always impressive.
Easy expansion or downsizing
Where it can be difficult to expand the utilities as per the expanding team size, it is no trouble when you’re in a coworking space in Noida or anywhere else. It is easy to customize your plan as per the increasing or decreasing number of seats. Looking to downsize? Not a problem! Just reach out to the community management and tell them about your current requirements and you’ll have that arranged for you. Expanding and downsizing while everything is managed for you is no less than a blessing in the busy world. This is one amongst the several advantages of being flexible that a growing or shrinking team is never a thing to worry about.
To sum it up, a coworking environment not just lets the members be more productive and happy but also makes them stay for long. It helps make that first impression on your important clients or the candidates that they really want to join you. The concept of sharing the space never fails to save your time, money and efforts. It’s only fair to say that coworking spaces are already a vital part of the business world. Just like they’re of big help to the freelancers and small businesses, they are as profitable to the large companies because for them, the time and cost- saving margins are always much higher.
Not only the shared workspaces offer a delightful bouquet of amenities, they also provide them members with numerous networking opportunities. The clients can form the best business connections and exchange work opportunities with each other as well. With the kind of technological advancements and modern updates these coworking spaces adopt, it would any day be the top choice for any business to start their business from. Keeping all these points in consideration we can understand how the companies irrespective of their size are taking advantage of the managed office spaces.