Co-working spaces are the latest trends in business. We have seen a steep rise in the demand for co-working spaces in India. The co-working industry has been replacing the traditional Indian office spaces in India. Post lockdown due to the COVID-19 outbreak, the demand for the best co-working spaces is expected to rise at a faster rate than assumed by the experts. Eastern India is becoming a major hub for the best co-working companies and the capitals – Bhubaneswar & Kolkata are on the list of these companies to venture into. Many companies, startups & even corporate are looking for the best of Odisha co-working spaces to start their operations.
Experts in the co-working and realty industry however opine that the corporate seek our alternative options to reduce their costs and expenses on fixed capital. Not only that, the paradigm shift in the working pattern and style due to lockdown and post lockdown scenario are fuelling the demand for co-working spaces and shared or managed office even in tier-2 & tier-3 cities pan India. Corporates whereas looking for the best working environments for their employee to work at these managed offices.
Coworking players are going to tap the opportunities keeping the option to acquire the best places to let their services to their customers. The co-working companies cater best services as per the demands of their customers and meet the flexible demands.
The five major cities of Bengaluru, Mumbai, Chennai, Hyderabad, and Kolkata saw absorption of approximately 4.42 million sqft office space during Q2 2020. There is a decline in the absorption due to the COVID-19 impact. However, the demand for the co-working spaces in these cities is expected to rise in the next couple of months as the country entered into the complete unlock stage with fewer restrictions.
The co-working industry will bounce back post-pandemic, here are the important factor that pushes the market:
Working from Home is a Big Challenge for Employees:
The concept of working from home (WFH) sounds good, however not a good option for employees to work in the long-run. Most of the companies have also been continuing with the WHF process for their employees. It is very painful for the employee to keep up their productivity and meeting their targets while working from home. It is clear as most of the employees worked more than two months during the lockdown and many are still working from home. The productivity is down and it affected the work-life balance.
Social Distancing & COVID-19 Protocols
Companies need to follow the Covid-19 protocols and need to provide a healthy working environment for the employees. Big companies and corporates eye for small spaces where they can accommodate their core team and employee to run the business effectively following all the standard norms to run office during the pandemic and post-lock-down. Here comes the role of the co-working players, those who are providing the best services and also following the norms. By moving to co-working the large enterprises can curb capital expenditure or long-term commitments on office property.
Co-working Spaces: Best Working Environment
Co-working spaces provide the best working environment where occupants enjoy their flexible timings. Employees of companies can work at the co-working space with ease and can get the best working ambiance. This will reduce the burden of the HR and operation department to invest in the fixed capitals with long-term, lock-in leases with heavy security deposits. It is also a challenge for companies to redesign their workspace. Some of the co-working companies also turned into assets management to provide the best-tailored office space solutions. These co-working spaces have dedicated desks, executive cabins, meeting rooks, and conference halls.
Co-working space companies are not only space providers, these companies have also been providing various solutions as per the need of the hour. They work on an entire spectrum of work requirements including co-working, enterprise solutions, and remote working. Upon having any sort of space of office space requisition, these co-working space companies & players can help business in getting the desired solutions. Their portfolio is diversified and can implement several plan actions to provide the best solutions to your space including design requirements.
Co-working space is only and the best solution for the companies looking for space for their employees. This concept is very effective for business growth, cost optimization, and tackling the current situation.
O-LaunchPad, the best coworking space in Bhubaneswar, provides desk space to office space, and dedicated property, we strive to provide the right working ambiance for productive, innovative, and effective workspace. Please do write to us at firstname.lastname@example.org and follow us on Facebook, Twitter & LinkedIn.