Author: TEZ

Coworking Spaces offer offices that excite entrepreneurs and mounting businesses alike. Originally, coworking spaces were extensively seen as a way for freelancers and remote workers to battle isolation. Many coworking companies tender private office spaces as well, giving you the perks of your own space without long-term deals. Small and Medium Enterprises have been increasing rapidly with over 63 million SMEs in the country today rising at an average growth rate of 10%. SMEs contribute to 45% of India’s manufacturing output and add to more than 28% of India’s GDP. With renewed economic reforms by the government comprising of rationalization of labor laws, ensuring digital incorporations & creating SME/MSME friendly policies, the SME segment shall not be overlooked by the business ecosystem in India anymore. The Coworking ecosystem which was originally the go-to option for start-ups and freelancers has now turn a prerequisite for SMEs.

With a substantial transfer from traditional offices to flex office spaces earning widespread acceptance, more & more SMEs are cuddling coworking due to cost efficiency, flexibility, tech integrations, excellent base, enhanced productivity, plug and play solutions, and networking time. Thus, allowing them to focus on their fundamental business minus the inconvenience of managing your business. The business centers can boost your business through the services emphasized below.

Instant Scalability

When small business owners search office space, it’s incredibly rare for them to discover a place that is affordable also short-term. Coworking spaces or plug and play office, on the other hand, offer businesses the chance to scale up (or down) as needed, without cracking expensive long-term leases. While the square foot price of most hybrid office space isn’t cheap, their ability to work with you on a short-term, month-to-month grounds (plus their menu of additional services on offer) leads them and other coworking spaces or flex office spaces an attractive replacement to traditional office spaces and their onerous contracts.

Get a Best Price in a Coworking Space

Where coworking spaces grant value, however, is in their access to comforts that would otherwise require you to make large capital contributions. Built into the price of many coworking space memberships is entry to little things—such as coffee, beer, and office items—and more costly things, including printers, online platforms, calling features, and other utilities.

Read also: “Why Coworking Dedicated Desk is the Future for Businesses?”

Boost Small Business Productivity

If you’ve formerly been operating your small business out of your home office, or your local coffee shop, get prepared for perhaps the most exciting coworking perk of all: It’s probably that moving to a coworking space will increase your productivity.

Improve Work-Life Balance

Work-life balance is vitally important to workers in today’s more connected, “always-on” mentality. That balance frequently gets out wacky when you work where you live. Coworking spaces give solo-entrepreneurs and teams to create a gap between home and work life. As a result, 60% of workers report feeling more casual at home since they initiated coworking.

Access Beautiful, Inspiring Spaces

Again, you may be happy to figure out of your home or your nearby Starbucks. But a rising number of boutique coworking spaces is unique, historic buildings across the country are offering businesses the potential to afford to work in an unbelievable space.

More Networking Opportunities

Whether working from home or working from your private office space one shortcoming isolation. Filled with other small businesses and entrepreneurs, a flex office space offer you more access to new ideas. Coworking spaces pull businesses across a variety of industries and alcoves together in one room or floor. And many of those businesses are peers and contributors to the local society and economy.

On-site, On-demand Talent

It’s becoming ever more common for a small business to make use of the talents of freelancers . Various small businesses use freelancers to write copy, design logos, file their taxes, and more. In domestic coworking spaces, you’ll be able to speedier source and employ your fellow coworkers. It may be easier this way looking over to the next desk to meeting someone who can help.

We all understand that we spend majority of the day at work and our mental health depends on how our working environment is, how our colleagues are and how effective we are daily. As one of the high-growth workplace movements of the final decade, co-working empowers people from diverse backgrounds to work combined in a common space. The performance of start-ups, freelancers, and other businesses has undoubtedly changed due to the COVID-19 pandemic. From recent year, the flexible working options have acquired an immense expedite. 33 percent of today’s manpower is currently consisted of independent or freelance professionals.

Co working space for start-ups

Instead of fascinated to work from home, so multiple start-ups and organization owners are now finding a shared office space in India as the most awaited choice. To your amusement, it doesn’t just start-ups who are hiring for like a set-up, and major MNCs and corporate houses wonder utilizing this choice for their back-office work.

Well established businesses, organizations, and companies, anchor their roots and spread their branches with a considerable workforce and workplaces across geographical locations. Start-ups, freelancers, innovators, and the like are those who should consider working in coworking spaces. This is mainly so to help them jump over hurdles and save them unnecessary expenditure over several things. Many small business owners and startup teams have discovered this perfect fit for their companies.

The lift of shared office space in Chennai

Co-working is rising and modifies the way we are utilizing office space. Co-working spaces ought to be flexible and improved at the same time. In a city like Chennai, Coworking is roaring in past times owing to the style of start-ups and business incubators being on the rise.  The advance development of co-working spaces turns a reach which is being followed by the world these days. It has cause about an important shift from owing a profitable coworking office space that accuses the capital.

Cabin factor at coworking spaces is widely driven by the BFSI sector, besides the usual request seen from IT and ITES sectors. What is upgrowth to this demand pick up is more lower tech companies which had given up their office spaces now choosing to work out of co-working spaces with a fiery desking model.

Key factors behind the development of coworking spaces in Chennai

Cost-effective option

Whether it’s a startup, SME, or sometimes big MNCs – don’t wish to develop an office from scratch due to various reasons. Instead, they look for visually attractive, fully furnished, and hygienic flex office spaces that give the feel and look of a premium office but at the portion of the cost of leasing a traditional office. This fund can easily be used to promote your business or better its core areas.

Friendly work environment

Coworking spaces in Chennai tend to be highly interactive, which means employees of a particular company can continue to have the feel of their earlier office and can steer clear of boredom easily.

Read also: “Why Coworking Spaces are in Demand?“

Lifestyle benefits

Apart from industry-leading amenities such as 24/7 access, reception, HR, admin, security, housekeeping, etc., some leading coworking spaces in Chennai also offer lifestyle benefits. Having associated with various service industries, they can offer their members with the ability to enjoy exclusive aids in those sectors.

Wrapping up

Coworking spaces are going to be the next big thing with their classified benefits at a significantly affordable price. These facilities offer the ideal solutions coupled with the necessary flexibility and top-class features sans the hefty capital cost of renting a separate office or building new office space.

Future Trends

Flex office space driver companies are transforming into handled space operators, wherein they are offer the whole center to a single tenant looking for quality space with little flexibility. This trend will remain in the future, too.

To cash in on this opportunity, big players from the property sector are also turning their concentrate to it. A paradigm shift in the coworking industry is on the incus as an era of flex office spaces is here to keep. The industry is expected to grow by 40 to 50% by the later this year itself.”

The Evolution Of Work

The way in which we work stay to evolve over time. Coworking spaces are still just a minor part of the industry, but this style of work is winning steam and popularity. It’ll be attractive to keep an eye on how this industry moves and what it means for freelancers, small business, and bigger companies alike.

The outlook of work has been widely debated and guessed. The 9-to-5 practice of working from a labeled office space has been upturned because of work-from-home, further cluttering the boundaries within work and play. While the fellowship of the office is certainly missed, extended periods spent indoors has highlighted the significance of a steady work-life balance, resilience, the need to be part of a society and a strong work culture. Flexible space is a word used to explain a variety of office types used by occupants to increase portfolio flexibility, reduce tenancy costs, and enhance partnership. Coworking is the most usual type, followed by administrators and incubators. Coworking spaces and setups tend to be in downtowns or thick neighborhoods, while directorates tend to be in metropolitan areas near huge employment hubs. The traditional, functional office space are shifting to a workspace designed around social interaction, collaboration, and relationship building. A better emphasis will be placed on technology and spaces that promote face-to-face interaction as the future of work progresses. Flexible workspaces have assisted this shift to the ‘new normal’ by offering businesses and employees the nimbleness they require to keep proceedings going. Flexible workspaces enable companies to experiment with emerging patterns such as work from spaces near to homes from locations across cities with membership choices like one-day passes. This gains time and cost spent on riding, provides an office-like atmosphere and more time to spend with loved ones.

Businesses are taken up a flexible workplace model for a extensive list of reasons, including:

Cost Reduction:

Purchasing/Leasing office space and their upfront costs of procurance can be an immense expenditure that hits the behind lines. Replacing flexible office space even in numerous cities can be much more profitable for any organization. Cost-effectiveness and approachability make flex spaces hugely beneficial during these rare times. It is relatively cheaper and suitable for enterprises since they can combine and share the rental outlay. This helps them direct their expenses and divert more resources into other aspects of their business to stay afloat.

Collaborative Hubs:

Association is key when it comes to running a business. Members of various departments must work together closely to make sure that operations progress as smoothly and effectively as possible. Some combined efforts can be conducted via facetime call, e-mail, or moment messenger, but it’s often much easier to work conjointly face-to-face. Flex office space grants businesses the time to bring employees together as a group whenever essential. Watching and speaking to one another personally is often far more productive than working within the limits of a digital platform.

Read also: “Modern Office Space – Everything You Need to Know“

Flexible Lease Terms:

The alterable lease terms are a significant advantage as it grants businesses to account for insecure times. With single office spaces, the companies mostly must execute rigid seven- to fifteen-year lease agreements, which make it complex for companies to stay planless. However, with flex spaces, the lease acts are relatively welcoming for the companies since they can prolong from a few months to as many years as the business may deem fit. They also allow the enterprises to influence their warehouse or office spaces when they are required to expand or curb their operations. Having a leasehold space could get a company into a fix due to the long and strict lease terms. Shifting to a lower serviced office could be the better solution due to the reduced and flexible lease terms that they offer.

Efficient and Hassle-Free:

Flexible workspaces are also an appealing and efficient means to fulfill business operations with adjustable membership selections, ready to move-in preparations, virtual office tours and user-friendly designs. This allows businesses to climb and expand presence in recent markets without setting up a permanent floor. They are also a centralized solution for legal and IT demands that are an added stress when setting up, letting companies to redirect these funds to hiring and innovation. With strength and safety taking priority, many flexible workspace providers have also executed a stringent set of measures such as sanitization and socially distanced accommodation.

Networking:

Flexible office spaces are all about assisting startup teams thrive, enveloping your coworkers and you with a mass of creative and driven professionals to spark thoughts. Startup founders can take advantage of networking with similar entrepreneurs, forging useful connections to help your business develop. A fostering environment for launching a new business, flexible office spaces also plan special events to boost a sense of community among its tenants. From meetup events to client speakers, your team can profit of perks that will broaden their professional network. Some coworking spaces offer specific programs aimed to help early-stage startups to measure quickly. Consent into these incubator-type atmospheres often includes resources to help members speed up their development, such as strategic services, advisership, and network distribution among other members.

Reduced Carbon Footprint:

By having distributed and smaller offices at different locations, the organizations save big on energy spending and other related expenses. Followed by a small commute implies fewer vehicles on roads and reduced energy being consumed, which unwittingly contribute towards making our environment purifier and free from Carbon Footprint which is truly a sore need of the hour.

Flex spaces are padding this gap by going a step further and giving the organizations an option to adopt remote-first policies and reshape their standing with the current market trends. They even go so far as to offer a network of workspaces inside and outside downtown for employees to use. Moving ahead with this idea, an enterprise passing the right flex space can devise a unique hybrid functional model for their employees to choose the workspace spot that works best for them and is helpful to collaborative working. Coffee houses and libraries are places where today’s workers might establish their laptops and perform their duties. The flexibility in work hours and risk to new environments is the new norm. Case in point: the start of flexible workspaces with subject and multifunctional rooms, hybrid workplace models, and well-equipped spaces trumps the traditional 9-to-5 and pragmatic spaces at a fixed location.

When companies and communal workspaces hold modern workers’ desire and need to do their work (and do it well), they can perform well, learn more, and collaborate as they want. The flexible workspace model is rising to become the workplace of choice for many employees and businesses. As the world of work changes to new technology and design trends, it’s more important than ever to remember what workers want, in which companies can gain as well: the flexibility of working.

It looks like there’s little left in the world that isn’t requested. From carpooling to grocery delivery, on-demand assistance is available for nearly every aspect of our lives. That on-demand fact even extends to Intelligent Office services, where business leaders can reap the gains of our premium business locations, amenities, and workers. Throughout the recent decade, nearly all the methods we do business have been modified. Corporate desks have been interchanged with shared workspaces and work-anywhere situations. Suits and ties have ceded to casual wear that’s cozy yet professional. Phone calls have been swapped with text messages and emails. An on-demand working space is place of business that is available when a business need for it. But these workspaces don’t require a permanent presence from the business. For countless small businesses, this presents the best of both worlds for a range of reasons. Companies need a firm, reliable meeting space to carry out training, and when your current workspace doesn’t enable it, the on-demand conference space is padding the gap. Meeting clients or coworkers at a coffee shop or a 5 star hotel creates a relaxing environment to talk business. With on-demand meeting spaces, you have the efficiency to reserve a fully furnished room with available conference equipment and catering services.

Let’s have a look at some of the benefits of on-demand meeting rooms:

Cost Effective:

Possessing your own meeting room means you get to benefit from it anytime you want, but this convenience comes with a price. Your own meeting room usually means you have your own office and the expensive overhead and livelihood that come with it. Meeting room in a coworking space gives you on-demand access to a conference room, meeting room or a business lounge when you need it for a minimal cost each time. You’re dividing the cost of the room with other companies instead of paying for your own room even when you’re no use of it, helping to keep overhead down.

Read also: “benefits of meeting rooms with co-working space”

Flexible:

A coworking space usually has many meeting rooms and conference rooms. You can choose whatever you like as per your requirements. Shared conference rooms can be outfitted to your precise needs at scale. Whether you want five chairs or fifteen chairs, A/V equipment or additional lighting, the cost remains very same.

Tailored Service:

Companies that need a local meeting room usually turn to a local hotel. Hotels do have conference spaces for rent, but their services are usually tailored for large-scale events. If you just need a meeting table for a few people, you likely won’t get any extra services with your room rental. In a shared workspace, conference room rentals are geared toward on-demand business needs. Whether you’re leasing a desk or a whole conference room, you get a devoted customer service rep that will manage all the specifics of your training conference for you. Plus, you may have optional amenities like a coffee bar or snacks to enhance your meeting.

Well Furnished:

Even with a convenient reservation system, you plan for a meeting space that requires little setup and breakdown of equipment as possible. You just want to show up and have the meeting room ready to go. To make your work life simple, on-demand meeting spaces are equipped and available for presentations. Shared office space provides comfortable office chairs, a large conference desk with built-in outlets, and an LED HDTV. These meeting spaces are well-equipped for your meetings and presentations.

Demand-based meeting spaces are an excellent choice to fit your budget and plan. With presentation-ready rooms and available food services, these meeting spaces are all set to impress your clients and coworkers at your coming meeting.

The COVID-19 pandemic forced an unexpected shift to remote working in one of the biggest global experiments in the history of work. Workplaces throughout the world are undergoing an intense transformation. Organizations are reevaluating work models to resume pre-pandemic operations. Many businesses are dovetailing to go back to the office but are faced with a similar situation. Not all wants to go back to the office. Managers and company leaders are having to face the need of creating a hybrid office of both traditional workers and remote workers. Employers are ripping up the rule book on how, where and when people work and trying out something called ‘hybrid working’. It’s a transform that is gathering momentum. A current survey found 75% of workers imagine that ‘hybrid work’ will be standard in their companies during three years.

Today’s hybrid office comes with a fresh set of employee concerns along with a new set of hopes they have of employers. During the shutdowns, people saw that along with preventing exposure to COVID-19, almost all of them did not get colds or the flu as they generally did each year.  Several employees have taken note of this and have some level of inconvenience about working in enclosed spaces with big groups of people.  Add to that the reality that in-office employees today crave distraction-free quiet spaces where they can do more strongly focused work like what they had in the WFH Circumstances during the shutdowns. They are also riding the adoption of touchless workplace technologies and the origination of outdoor workspaces to use when uniting with teams. To keep employees highly occupied with their company and their work, employers can permit for the office to become a true mixed environment. They must work out programming so that teams can work equally from home and from the office at any time. Work policies must be modified to accommodate flex scheduling as well as how work will be done. Open and available schedule software platforms should show team members who may be on thesis or working from home. Workflows must be more sessions adapted to authorize employees to do their jobs no matter of location or time of day.  That should be minimized, while leveraging unsynchronized forms of communication along with devoted slack channels and virtual project boards. Mobile technologies should be employed to enhance productivity as a single allied experience regardless of the place of the employee or their team members.

Read also: “Choosing a New Office Space? We’re here to Guide you!”

A hybrid office is designed to back both in-person collaboration and remote work. Unlike a sharp work environment, which makes it simple for employees to choose from various types of spaces while they’re in the office, a hybrid office accepts employees will be shifting more frequently between home and the office. Hybrid work environments also benefit the employees that simply do not have an appropriate workspace at home or find it very hard to work with distractions and duties that demand their attention. It should make it effortless for employees to meet with team members whether they’re face to face or functioning remotely.

Elements of a Hybrid Office Include:

• A blend of collaborative and private rooms.
• All-purpose areas employees can use relying on the work they’re doing.
• Furniture that’s easy to reconfigure.
• High-quality conference room technology.
• Technology that makes it smooth for employees to find and book workspaces anywhere.

 Some Benefits of Hybrid Offices:

Studies signal that the benefits surpass the negatives for both employers and employees:

• Productivity increases. Telecommuters have minimal social distractions and take extra breaks which keeps them regenerated and motivated.
• Lower stress levels. Statistics show that people who telework, even every month, are happier and below stressed.
• Cost savings. Both employers and employees cut costs by working remotely even twice less the time. Remote workers save on traveling costs while businesses save on supplies and other outlay.
• Reduced employee turnover. Companies who offer flexible work arrangements see a 25% lower employee turnover.

There is still dubiety around the future of work life, but the office outlook has certainly been permanently changed. Office life that once existed is lost – there will be no closer packed, open-plan office spaces. The big offices will keep the hub, but it’s extremely improbable that organizations will be asking all their employees to return in full capacity. The future could see shorter, satellite offices beginning outside of the downtown city municipalities. Having small teams of employees work in the office on events can preserve company culture and comradeship that can’t necessarily be obtained via video calls. Finally, the future workplace is a mix of remote and in-office, and technology is the clue to keeping employees linked and workflow going smoothly. Digital transformation is the step ahead.