Companies on a Lookout for Co-working Spaces as the Pandemic Continues

coworking spaces
coworking spaces

Business centers and co-working spaces are not just for the self-employed and this fact is time and again proven when big MNC’s have started relocating their offices to co-working spaces. This fact is enough to demonstrate what effect the covid pandemic still continues to have on the individuals as well as the companies.

There were early indicators that major corporations were transferring their personnel into coworking spaces even before the pandemic. In the current state of the business environment, firms are seeking ways to reduce expenses and improve employee engagement. As a result, they are not investing heavily in real estate, preferring instead to use co-working office space, which allows them to be more flexible with their investment commitment.

Start-ups have traditionally preferred flexible/coworking spaces. However, given the uncertainty surrounding the pandemic’s spread, huge firms are considering switching boards to figure out what percentage of their personnel would be better off from long-term leases and owned properties to flexible coworking spaces.

Most businesses are also going back to think about who needs to work in the office and who can work remotely. Companies developed several models depending on the nature of their business. The co-working and managed office industry has exploded in popularity in recent years, disrupting the traditional work environment.

Google

Google anticipates that 20% of its employees will continue to work remotely, while 20% will return to in-office employment; the remaining 60% will be in the hybrid option group. This means that 80 percent of their employees will visit the office at least once a week. Employees will have options rather than being compelled to work remotely or in the office, according to Google’s flexible approach.

Microsoft

Microsoft provided access to a local coworking space to 30% of its New York employees. Microsoft Reactors, a new type of coworking space where developers and startups can work and network, was revealed by the tech behemoth. Microsoft isn’t alone in this thinking, as it turns out. Other businesses are considering investing in or establishing their own coworking spaces.

Verizon

In Washington, D.C., Verizon transformed an aging data center into a bright and vibrant coworking space. Verizon’s senior vice president and head of global real estate, John Vazquez, stated, “to us, the real value is what we get by bringing entrepreneurs into the building and having them meet our folks.”
Cost and culture are driving large corporations like Verizon, IBM, and others to seek out coworking spaces. Coworking offers a more cost-effective alternative to large office campuses, as well as the ability to set up flexible payment plans. Coworking spaces, on the other hand, provide a type of startup culture that businesses seek out.

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