With more independent professionals and small-scale businesses coming into the market, there has been a rise in the demand for coworking spaces. As of 2019, there are over 1000 shared office spaces in India, with the majority of them located in cities like Hyderabad, Mumbai, and Bangalore. Numerous companies have begun promoting and participating in coworking spaces. The impact of Covid-19 and focus on economic growth have helped coworking spaces gain importance.
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What is a coworking office space?
Coworking spaces are offices that are shared and used by the employees of different companies. People working for the same or different companies share a plug and play office, utilizing the various services available within them. Such business centers are usually located in highrise buildings, setting an open environment. The people sharing the workspace enjoy the perks of having a flexible workplace, a receptionist, recreational area, internet and other necessary services and amenities.
Benefits of using coworking offices
Coworking spaces have risen in demand due to the increasing real estate prices. These shared offices are not only cost efficient, but also help boost productivity according to recent studies. The employees enjoy the benefits of being able to use quality equipment and services at a cheaper price in high end locations.
These office spaces are available for rent which is profitable for people working within a limited time like freelancers and entrepreneurs. Since most of the people working in such shared office spaces belong to different companies, the competition is quite low, making room for a stress-free workspace. The lack of competition and workplace politics enables the employees to extract maximum productivity and sets forth a creative flow.
The 24 hour accessibility to the office let’s people work flexibly. Such spaces are also beneficial for startups and freelancers as it gives them the opportunity to interact with new and different people enabling them to take on new partnerships and collaborations.
Coworking space in Hyderabad is not only economically profitable, but also focus on building a community.
Coworking spaces to become the new micro Hq?
The Covid-19 pandemic has changed the workplace lifestyle, with more and more companies encouraging their employees to work remotely. This has brought to focus the fact that a lot of companies don’t necessarily need the use of a big headquarter. Since remote working has become our new normal, companies have begun letting go of larger offices in order to opt for a more cost efficient option in coworking spaces.
The need for a large headquarter is quite unnecessary in such times, giving way for the use of coworking spaces as micro headquarters. The traditional form of large headquarters has several downsides of being too costly, overcrowding, mental and physical health deterioration, negative competition, commute expenses, pollution and income inequality. Headquarters in coworking spaces help eliminate these issues or in some cases reduce it.
Entirely focusing on a single entity is economically risky whereas distributing work in several areas and offices ensures a minimal risk policy. A distributed workforce will help in economic growth, which is a factor that more companies need to focus on.
Impact of covid-19 on coworking Hq’s
The recent necessity to work remotely caused by the Covid-19 pandemic is a major opportunity for companies to shift to making coworking spaces as their headquarters. This has opened up opportunities for companies to create micro HQ’s in several locations, saving costs of investing in a large entity while also enjoying the benefits of having a distributed workforce.
With remote working expected to be a consistent part of the work conditions, investing in micro headquarters is a profitable decision as it will ensure economic growth as well as complete use of the employees productivity.
Adopting coworking spaces as micro headquarters ensures economic resilience by focusing on workforce in all locations as well as opening up opportunities to expand one’s business in a cost efficient manner. Micro HQ’s in shared office spaces are soon going to be the new normal due to it’s profitable conditions, with companies like iKeva providing such facilities in a number of cities like Hyderabad and Mumbai.
With increasing need of economic development as well as shifting focus on the importance of a distributed workforce, coworking spaces are predicted to become the new micro headquarters.
