Why is India Riding the Coworking Wave?
We all wonder if coworking as a phenomenon will get the same success in India as in the western world, or is it a fad that will die down with time?
As per a study was done by the consulting firm Jones Lang LaSalle (JLL), coworking spaces are likely to jump by about 30per cent to 40per cent in 2018 and by 2020, around 13.5 million Indians will operate out of shared spaces. The workforce at these facilities will include 10.3 million employees of large companies, 1.5 million freelancers, and around 100,000 startup workers.
These numbers say a lot about how work culture in offices (that have ruled the way people work over the years) will finally change to partner run offices. And, rightly so. If online ordering over placing an order on the telephone has found itself a considerable customer base then coworking and office working are bound to co-exist and supplement each other's growth.
At a glance, some of the top advantages of working out of shared offices are-
However, let's go a step ahead and share our observations on why coworking spaces around Gurugram or Gurgaon, Delhi, Noida are becoming increasingly popular.
You would think if it is collaborative working, then how can a shared office space have a culture? Believe us, it does. The culture of a coworking space is not defined by a particular brand but by the people who work in the space. These people come from varied fields, work set-ups and from companies of different sizes. Thus, them working together only enhances the culture as they add their own separate character to this one space.
They together, form new rules and learn how to work together by overcoming their differences. If you want to see diversity being celebrated, come and join us for a day and see it for yourself.
Another point we often hear is, coworking places can’t be personalized as per the brand requirement. We say, on the contrary, they are more personal than one's own office because employees working here want to showcase their respective brands. In fact, coworkers differentiate themselves by flaunting branded stationery, merchandise, etc.
For freelancers, they have an option to modify their space according to their area of business while adding their own charm to the ‘hot seat’. For example, a graphic designer can exhibit his work on the desk to showcase his skills.
This also raises the possibility of them getting work or being referred to by someone.
Attracts and Retains Employees
The working millennials like to maintain a work-life balance and thus, prefer flexible working hours over strict timings. They also choose to work closer home than suffering through a long commute. And if by 2020, 64 per cent of India’s workforce will be millennial (as per Deloitte), then adapting to the change is something that companies should certainly consider.
The coworking option can attract and retain employees by providing a Bay-area like culture, providing an enriching work environment. We say, consider it if you haven’t.
Easy Set-up of a New Office
This one is especially for established start-ups. Thinking of expanding seems to be a distant option for many as it requires keeping considerable funds aside to not only by space but also, for operational and overhead costs. Now, with coworking spaces, after deciding on the particular city of expansion, companies can start operations in no time.
As coworking spaces offer a full-fledged office environment with basic facilities like WiFi, printer, cafes, etc. businesses just need to send their employees to a new location and get going smoothly and seamlessly. Companies like Zomato, Vodafone are just a few of the many, who have already taken a plunge into the shared office culture.
Choose Your Location
Unlike many offices where employees come to work at a particular location day-in-day-out, coworking spaces have many locations to choose from. Members have a choice to pick their place as per proximity, facilities, meeting rooms, or even as per profiles of coworkers. Not only that, if bored with working from the same location every day, individuals or groups can choose to go to any of its other locations at any time. One of the biggest advantages of multiple locations is that members can work as per their meeting schedule, or along with friends or even according to their networking needs.
Apart from the basic advantages that these spaces provide, the above are some important factors that have led to India riding the coworking wave.
Mishu am Founder at GoHive, Delhi NCR's first women friendly coworking space, with an endeavour to create happy and inspiring workspaces for startups and SMEs alike. They are currently operating 3 centres, with more than 300 seats, and targeting to reach 10000 seats by end of 2020.
He am also mentoring & advising 2 startups, 9carats.com (an online jewellery retail company) and rookpik.com (India's first real estate reviewing platform), and looking forward to connect with other startup entrepreneurs wherein my experience and knowledge can add value.