Has Covid-19 Marked the End of Coworking Spaces? We don’t think so!

COVID-19 in the span of just a few months has altered the way an employee works and a company navigates in its day-to-day life. Businesses all around the world have adjusted their operations in an effort to put an end or at the least to slow down the spread of the COVID-19.

The concept of social distancing and experimental remote working may lead one to think of a future where “working from an office” is no longer a necessity. However, we believe that not everyone is equipped and ready to manage the “work from home/remote working” situation.

The switch from an office to work from home has been seen to come with its pros and cons. Despite its benefits, remote working is found to be very distracting depending on the employee’s household situation. Kids, electricity, internet connectivity/Wi-Fi, network and other factors may contribute to the drawbacks of working from home and thus leading companies to opt for a coworking space in proximity to an employee’s home to ensure commuting time is minimal and also work can be carried out with lesser distractions.

We see the increase of virtual offices in cases where distractions are lesser and the level of productivity remains the same or in some situations show an increase, companies have decided to continue the work from home lifestyle and this may also continue after the COVID-19 Pandemic has passed.

Long term contracts with office space providers would entitle a company to pay a rent as per their agreed/defined contract even if the space is not being utilized. This payment had been a major struggle to many companies who were faced with tangible setbacks and losses within their respective businesses during this COVID-19. The flexible terms of coworking – For Example – No lock-in, no deposit, etc., has led to the shift from conventional/traditional offices to coworking spaces.

The pandemic has resulted in many setbacks seen by businesses, start-ups and freelancers. The key to a stable ground is through networking (community) and coworking spaces were always known to fuel connections and drive businesses. Connections made between different employees from various fields/backgrounds in a coworking environment could be a potential investment/client

Thus we see businesses adding the possibilities of further lockdowns & restrictions to their future plans and are working towards finding flexible terms for their rental agreements. This would ensure that if/when a similar situation arises, they would be able to benefit from the flexible terms, various offers/options, cost efficiency, amenities, and vicinity along with the safety measures offered by coworking space providers.

Located in the prime commercial area – Anna Salai, Chennai, The Executive Zone is a selection of high-spec serviced office suites spreading across 25,000 square feet area with refined ambience and stately elegance located at Chennai’s most popular business address.

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