India’s corporate businesses have started leaning towards flexible work options as the real estate sector continues to boom throughout the entire country.
According to real estate firm Colliers International, leasing activity in seven major Indian cities had risen to 50.2 million square feet last year in which coworking took up 14% of the activity. So why exactly are businesses attracted to coworking?
First, it is a more economical home, particularly for the rising startup community. With up and coming startups, renting out and furnishing an entire traditional office can add up. That’s where coworking options come in, allowing companies to simply pay a cheaper monthly rent for the entire staff.
Coworking also provides a chance for businesses to network as these spaces bring together professionals from various job sectors and now, many operators host networking events to reinforce the feeling of community with the space.
Another benefit of working out of a flexible office is having essential resources ready to go, such as Wi-Fi, printers and coffee. Even more so, many offices have started introducing ergonomic furniture, standing desks and natural lighting to boost health and well-being in the workplace.
Companies also have the option to easily scale up or down in a shared workspace. If your staff is growing, rent out more seats. With a traditional office, this would be a longer, more strenuous process.
Overally, the younger generation has pushed the shifting work culture and coworking spaces play directly into that. Millennials want cheaper, more interactive workspaces rather than cubicles.