Why Larger Corporates Are Making the Switch to Co-working!

Managed workspaces are happening, and Gen Y seems to have taken to it like fish to water. Sharing of core values, entrepreneurial dreams, ideas, desire for flexibility and better work-life balance has driven this breed to seek out-of-the-box working -solutions.

Be it freelancers or independent contractors, self-employed professionals, or entrepreneurs, the driving force is to be the boss of their own lives. And shared spaces nurture just that!

But if you picture coworking spaces as a roomful of tech-start-up millennials, then think again.

 

The New Kid on The Block

 

Knock, knock! There is a new-ish kid in town who is the absolute opposite of the start-up scene at coworking spaces.

And there seems to be some hard muscling going on to get into this coworking community. Perhaps to grab a bit of the entrepreneurial action that usually fills these spaces.

 

Say hello to the new wave of coworking corporates.

 

As the CBRE Research states, the co-working footprint was just a little shy of reaching 40 million sq. ft across 16 major Asian cities including the likes of Bangalore, Mumbai and Delhi NCR as of H1 2018.

Now that these alternative working spaces have matured, they are beginning to grab the attention of bigger enterprises. Many of them choose to be there as they see these environments as a solution to some of the tough challenges they face.

 

How Will Corporates Benefit from Coworking?

 

In this realm, co-working brings a plethora of gains helping enterprises focus on imperatives rather than sweat the small stuff. According to a prediction by Small Business Labs, nearly 4 million people will transition into co-working office spaces by 2020 in contrast to the 1 million in 2016.

 

So, what makes coworking such a win-win solution? Let’s take a look.

 

Cost Reduction:

 

Larger corporates are taking baby steps towards coworking this ecosystem not just for creative but for economic reasons as well. Remember that every penny saved is akin to a penny earned.

The benefit lies in the fact that they can initially start off as a single desk arrangement in the coworking space. Later, it can be expanded to a bigger operation if the strategy is seen to be working as a financially viable alternative to having a dedicated office space on their own. This unique flexibility is only offered by managed spaces.

Membership plans managed workspaces are highly flexible with both short-term and long- term options and large corporates can choose wisely. This feature helps enterprises grapple with unexpected changes, for instance, even shifting to another location effortlessly without interruption in their objectives.

Large corporations have begun to embrace the concept of shared spaces as it helps drive more profit to their bottom lines.

 

Resources and Amenities:

 

For any organization, big or small to carry out its objectives, resources and amenities are vital. For instance, having access to printing, scanning, high-speed internet, food/beverages, all under one roof saves a lot of time catering to essentials.

Also, using the conference rooms and other facilities in co-working spaces for meeting clients and investors helps project a more professional image of your venture. Essentially, coworking ensures you make no compromises in creating an impact on your product or services to prospects.

Corporates have realized that by choosing to allow their employees to work in collaborative spaces, there is actually no compromise on resources or amenities.

 

Networking, Learning, And Growth:

 

Networking fuels organizations of all sizes. Coworking spaces offer several opportunities to network with some of the best innovative minds and expand your contacts.

Many such managed spaces play host to events that encourage networking, which is important for big shot enterprises to grow. In fact, large corporations prefer their employees to work in such collaborative settings as they can engage with new talent as well as benefit from innovative minds.

In such a vibrant place, picking up new skills happens almost by default. According to a global co-working survey, creativity increased by 71 % in coworking spaces. The collaborative atmosphere in shared spaces makes it very conducive for shared ideas among people with diverse skills and experiences. Networking is almost effortless in this atmosphere and it is really possible to have some very fruitful relationships.

 

Builds Resilience, Keeps Motivation High, Improves Productivity:

 

The camaraderie from shared spaces can actually have an uplifting influence. It is highly possible to draw inspiration from your neighbor in the next cubicle without wallowing in problems.

Obviously, big companies love having easy access to innovators and maverick ideas. They seek the opportunity for new talent and path-breaking ideas, which is a given.

When employees have the opportunity to rub shoulders in such collaborative environs, it also keeps motivation levels high. Employees get enthused watching start-ups and their founders doing things differently.

Further, a shorter commute and more flexibility to employees by allowing them to choose a space closer to their homes translates into happy employees. And happy employees are definitely more productive!

 

Think You’ll Be Distracted?

 

Silence is one of the beauties that you can get when working from home. Of course, assuming that you do not have mischievous kids running around the house.

But, do not mischaracterize a managed workspace as distracting. People go to these places to work and it is a great opportunity to meet like-minded people.

Employees can meet entrepreneurs, small business owners or freelancers and exchange ideas. You can grow your network by speaking to the other co-workers. However, if you do not enjoy talking to anyone and just prefer a quiet space to work, you can keep to yourself and you won’t be disturbed.

In fact, many such spaces have designated times or spots to socialize or they have quiet areas for you to get away from the buzz, such as meeting pods and phone booths where you can enjoy your privacy.

 

Innovation All the Way

 

As the collaborative working concept evolves, the design and infrastructure of these spaces are expected to change. At the heart of coworking designs, will be wellness and health shining through.  Aesthetics that will enable the free flow of positive energy with adequate air and light will form the foundation of design plans in the coworking space.

There could be devices to pick up valuable inputs from the workforce without their intervention, which can further influence ideas to improve the design of shared spaces. For instance, if a biometric sensor could just pick up the individual’s mood for the day or plot stressful situations on a graph, it may help designers of coworking spaces factor these inputs into making the environment more employee-friendly.

 

From a heavily charged stressful workplace environment, the focus will shift to a place of choice for work with additional benefits of flexibility, engagement, opportunity, and tranquillity all rolled into one.