Why coworking spaces are in demand

The number of employees working from home either partially or fully has been on the rise for years now, it has now become more evident and has slanted towards the term “THE NEW NORMAL” ever after the COVID-19 pandemic.

Remote working comes with a mixture of positive and negative outcomes. When looking at this shift from a traditional/conventional office to a remote work style, employers would definitely fixate on the negatives more than the positives in consideration to the growth of their business.

Working from home isn’t feasible on long term basis, here’s why:

Reduced team cohesiveness

Working remotely means working without a team and without constant supervision. Even though in some cases we see that reduced contact with colleagues may give an employee more space to increase productivity with less distractions, we also see that the aspect of sharing ideas, strategizing towards the project goals, bettering one’s work based on suggestions, lack of monitoring, etc. reduces cohesiveness and coordination which is a drawback.

Lack of focus

Work from home has seen a drastic downfall in employee’s productivity and focus. Constant distractions and little to no motivation around the house are found to be the main reasons for the lower productivity rate.

Barriers to implementing a remote work policy

There are a number of concerns that employers consider while deciding on the option of remote work, the “longstanding company policy” in other terms – the “current, perfectly functional, familiar company policy” is the most important factor. Other factors like data security, technology, flexibility at a higher extent, impact one the overall culture of the company and work, seem to be barriers in the implementation and shift from traditional to remote work policies.

Maintaining company culture

There are always unwritten values and behavioral aspects expected of an employee from his/her employer/company, every company carries out a culture that has been in force for a long term or in some cases from the start of the business. Maintaining this work culture among employees and management whilst working remotely can be a task by itself, thus leading companies to rethink the idea of remotely working on the whole.

The only way to overcome this dilemma between working at a conventional office and working remotely from one’s home, is to work at a proper “office” in “proximity” to one’s residence. Employees would not be required to move cities, travel long hours, or work in anxiety of the commute back home in case of an emergency. This is exactly why co-working spaces are in demand.

In general terms, co-working is a community of people assemble at a neutral space to work independently or in groups on different projects, from various backgrounds.It is not similar to a typical office workspace because the people in a co-working environment generally aren’t working for the same company. Co-working spaces usually offer the same amenities and, in some cases, even more than you would find in a traditional office.

A major differentiator is flexibility, a long-term lease is not a requirement in a co-working space. Basic facilities like Wi-Fi, printers, cafeteria, and other amenities are common in every co-working space.

Coworking spaces are seeing a demand among entrepreneurs, SMEs and some large sale companies due to the below reasons:

Community

Even in diversity, it is amazing how a community can help one another grow.

Flexibility

Co-working space providers always have flexible terms that are more pleasing to an employer, no lease, no long-term contracts etc. are some of the reasons we see companies opting to co-working spaces today.

Reduced stress

The current pandemic has got almost everyone working from home. While this can be a great way of working, it can easily fall apart as well. The key to have a stress-free work life balance is to work outside one’s home but still in proximity to home.

Networking

Meeting new people in a coworking environment can be great networking that can eventually lead to new opportunities for business growth.

Motivation level

It is highly impossible to slack off when in a room full of driven people.Energy and productive levels rise high in coworking spaces.

The coworking industry has opened up new gateways of growth to start-ups, entrepreneurs and freelancers. They have whole-heartedly welcomed flexible workspaces and have benefited from the collaborative, inclusive culture, cost efficiency, accessibility, etc. which are the very foundation of every co-working space.

The Executive Zone, a co-working space provider is located in Anna Salai, Chennai & offers you a luxurious, high spec office space with a number of amenities and facilities that will help your employee work more comfortably and efficiently, increasing their productivity and giving you the growth, you want for your company.

Choosing a new office space? We’re here to guide you!

Choosing an office space is an extremely important and puzzling task for a company. The space you choose might be a significant factor that may affect your business in the future. For instance, it can affect your office budget, the accessibility and functionality of the space, utilities etc.

A well-connected and a fully-serviced office space, can impress clients and facilitates workplace wellness. It can help develop employee morale and in turn grow your brand image.

A few points to keep in mind when choosing an office space

Location

Location plays a significant role in the process of selecting a new co-working/shared workspace. Knowing that clients and employees can make it to the office without any hassle is important. Proximity to airports and metro stations, coffee shops, etc. ensures that you are on the right track to selecting the perfect location.

Value for money

The deciding factor for any business owner while selecting an office space is the “Price factor”. Spending too less may result in having to forfeit a number of advantages, and spending too much will result in high expectations which when not fulfilled may lead to discomfort and disappointment. Things like basic facilities, services, amenities, hidden charges, contract terms, etc. are some points to look into while considering an office space.

Size

The Size is the next big deciding point right after location and price. Details like the size of desks, more storage, meeting rooms, breakout zones, cafeteria, etc. all add to the quality of an office space.

Having a well sized workstation, dedicated meeting rooms to entertain clients and discuss growth projections with employees, place to rest and take a break admits the busy hectic work day are some features that help employees work better and employers achieve required growth in business.

Infrastructure and Style

When it comes to working at a co-working space, basic and necessary equipment and amenities are a priority and are needed to make the workday a more comfortable and productive affair. The style aspect in terms of visual appeal, furniture, lounge area, etc. may play a role in the kind of impression a business would like to make to its clients and employees.

Technology

Businesses nowadays function mainly with the use of the internet. A bad network/Wi-Fi connection on a crucially busy day would be an employee’s worst nightmare. Finding a co-working space with proper internet connection is very important. Video conference room facilities with the latest video conferencing equipment, projection equipment and furniture are features a business looks for while selecting a perfect co-working space.

Here at The Executive Zone, We tick all the boxes!

Located at Anna Salai (Mount Road) – one of the most prime commercial area in Chennai city, with a selection of high spec serviced office suites at the most reasonable price, we offer employers a range of services, amenities and various types of shared office spaces.

Benefits of Co-working Space over Traditional Office

What is a co-working space?

Co-working spaces are an arrangement in which workers of different companies share an office space. It allows cost savings and convenience through the use of common infrastructure, such as receptionist and custodial services, equipment, utilities, parcel acceptance services and in some cases refreshments.

The days where co-working spaces were occupied only by freelancers and start-ups are far behind us, large enterprises nd MNCs have started selecting coworking spaces over private offices in view of the agility and flexibility offered by shared workspace providers.

5 reasons why co-working spaces over conventional/traditional offices is the smart choice:

Opportunity for Customization of Office Spaces

Different businesses have different infrastructural requirements. Flexible workspace providers design private office spaces or shared workspace as per the business’ infrastructural needs. Flexible workspace provide options between single desk, shared office or private cabins. It also gives an option to have brainstorming sessions in designated or common zones.

Lease – Real estate Efficiency

Most conventional office spaces are rigid, inflexible & require hefty investments. Co-working spaces, on the other hand provide plug-and-play offices that require no CAPEX investments, no lease! You get a membership according to your needs, and you can change it at a moment’s notice.Be it a desk for just one day or 10 dedicated desks for a week or a private office for four months, shared workplaces give you remarkably flexible choices.

Interactive Events

Co-working spaces organize events to keep their members and employees engaged. DIY workshops, corporate grooming seminars, business related workshops, etc. give employees the chance to have fun and meet new individuals from various backgrounds while learning something new.Such recreational exposure helps in keeping the employeesfocused and motivated, in turn increases their productivity.

Networking Opportunities

The foundation of co-working spaces is building a community of like-minded individuals. Co-working spaces are centersfor ideas and experiences, consisting of people from various companies and walks of life working together within the same office premises. The Co-working concept also provides individuals the opportunity to expand their professional network, as well as venture into new collaborations for mutual interest.

Changes to be expected in the co-working culture due to COVID-19

We see a fair share of change happening in workspaces around the world in the year 2020 as a result of the COVID-19 pandemic. With technology as the key feature behind the trends in the past, we see a new future with every new innovation and breakthrough.

Technology has greatly impacted the workplace by focusing exclusively on increasing quality, reducing cost and enhancing scalability, resulting in the booming of cloud computing, artificial intelligence, virtual reality and automation.

Let’s take a look at a few changes we can expect in future workspaces:

Contactless Technology

As we see companies slowly resuming work, employers are considering ways to create a more contactless (or at least a low-touch) workspace environment. Technology will play the key role in this transformation. Contactless check-in where onecan create a visitor profile at the reception by using their own smartphone. Exchanging information digitally instead of the traditional handshake and business cards.

De-Densification – the New Norm

De-densification of the workplace post-COVID-19 era will help occupiers to maintain social distancing and enhance the workspace wellness. It could also urges companies to work in shifts to ensure the office isn’t brimming with people in close contact with one another.

Social Distance Will Be the Key

Social distancing and hygiene during and post the Covid-19 era will be an important priority of all workplaces. Temperature check and the availability of sanitizer at the entry and other high risk/common areas around the office, use of masks, elevator capacity reduction, and safety markings around the office will be some of the precautions taken by employers/workspace providers to better the current situation.

Emergence of Shared Spaces

With majority of employees opting for flexibility in working from different locations, companies have started to consider downsizing their traditional/conventional offices and leaning towards the idea of setting up offices in shared/coworking offices in proximity to their employee’s residence after considering the pandemic situation(working far from home/ in different cities).

We are still very far from the complete resolution of the novel coronavirus but in the long run, considering the various benefits of shared workspace, coworking as an industry will start to boom.

Keep up with the changes in the world today, opt for a Virtual office

A virtual office is part of the flexible workspace industry that caters to the demands of evolution in the way we work today. It provides businesses with various services, space and/or technology, without the need to bear the CAPEX of owning or leasing a conventional office.

There are a few factors that come into play when considering the benefits of a virtual office:

Cost-effective

When considering the capital required to build, rent or lease an office, the option of a virtual office is a smart choice for any freelancer, entrepreneur, start-ups or SMEs. Virtual offices are a concept where physical presence is not a necessity but benefits such as premium office addresses and other services such as board rooms, meeting rooms, concierge services and other administrative services can be procured and enjoyable as per requirements.

Flexible and Less time consumption

Recent times have shown a shift from “working in an office” to “working from home”. This trend has been more beneficial to the employees in aspects of the time and cost consumption, as a result the time spent to commute can be used more efficiently to increase productivity and improve overall work attitude.

Remote Working

A virtual office is a remote working style that allows one to work on their own terms and use unique methods to achieve maximum productivity in the initial stages of business. The benefits of having virtual offices allows one to work efficiently from the comfort of their home, a coffee shop or on the go, which reduces stress levels and helps maintain a happy and healthy balance between work and life outside of work.

Business/Team Expansion

Virtual offices provide flexibility to organizations seeking to expand their business. When a company needs a physical presence in a different city, virtual offices are the go-to-approach to sustain the day-to-day operations. Without an obstruction of a fixed workplace and other legal formalities, increasing a team size is smooth-running with virtual offices.

Easy setup

Setting up or shutting down of a virtual office is hassle free and easy, without the need to spend anything additionally.

In conclusion, having a virtual office at the initial stage for a start-up or entrepreneur is an asset, and can further continue to effectively support in the growth of the business.

The Executive Zone, has been and will continuesupporting business’ grow and maintain a professional presence by providing excellent shared, private and virtual office spaces in Anna Salai, Chennai.