Co-working spaces have begun to take on this role for small enterprises, entrepreneurs, and start-ups before the pandemic that forced offices to close and individuals to work from home. Co-working office spaces had many advantages, including being frequently crowded with people from all backgrounds who were all working in the same location. These locations were wonderful for networking and forming contacts in addition to the cost savings and flexibility for employees to work at their own speed and schedule. However, with the lockdown, the functioning of these spaces was brought to a halt, at least in the initial months, when people were stuck at homes. Moreover, there has been a noticeable shift in how people work with things opening up.
Co-working spaces were once only used by freelancers, budding entrepreneurs, and start-ups with constrained budgets. However, co-working spaces are also drawing in larger businesses due to their minimal CAPEX needs, reasonable rental options, and creative and collaborative workspace designs. The newest disruptors in town is MyBranch, which provides shared office space near me and co-working space in India. The company presently owns business centres with presence across PAN India and provides offices to companies of all sizes.
How Co-Working spaces improve MNC operations
Co-working spaces have the power to replace traditional working styles and expose employees to newer working patterns and different sectors of the economy. For consultants/freelancers and MNC employees to stay connected via video chats or attend webinars, shared spaces guarantee excellent internet connections, conference and meeting rooms, and provide additional tech assistance. Due to this infrastructure, consultants and freelancers are drawn to such co-working spaces.
Many MNCs use freelancers as consultants to work on various projects for them; instead of working from their homes, these consultants may now collaborate with the MNC team and make the most of co-working facilities, where they can readily discuss ideas with their superiors in person. In this way, a co-working environment enables staff members and vendors to collaborate closely with their superiors and develop profitable relationships.
Modern co-working spaces breathe youth and life into the dull structures of a normal office space, which might be unappealing when compared to a regular office setup. The lack of recreational activities, a repetitive work schedule, and subpar infrastructure sometimes lead to unsatisfactory outcomes.
MNC employees typically have less options for rest and recreation in traditional offices. Along with providing flexible work conditions and social events for the team, co-working spaces enable the team to operate in a variety of places. Employee contentment and productivity significantly increase as a result. Many large firms find shared office spaces to be appealing due to the ready infrastructure, motivating work environment, and cutting-edge technology support, to name a few.
Imagine working in an environment where you may share a desk with a graphic designer or an artist, free from hierarchy, cubicles, and dress standards, where networking is encouraged and innovation is rewarded. These areas can greatly foster teamwork and information sharing in addition to increasing employee motivation and retaining workers for longer periods of time.
MNCs are shifting their preferences to shared working spaces as a result of rising office rents, protracted lease terms, and the poor quality of office spaces, and this figure clearly looks attainable, futuristic offices of the future.
The Current Scenario
The majority of co-working spaces are seeing a positive recovery, and most players are hopeful about the market recovering despite the minor disruption that the lockdown caused.
“Co-working spaces are doing well and witnessing robust operations now. For the co-working gamers, the post-lockdown scenario is opening up a slew of brand-new possibilities. Despite the fact that the work-from-home model would have been beneficial during the lockdown, many businesses may not desire it as a culture, and many business verticals and roles still call for people to work in an office environment. While working from home is possible, office space will still be necessary.
Even before the epidemic, many businesses struggled with the strain of lengthy, lock-in leases that required hefty security deposits and limited their ability to quickly adapt to changing economic conditions. Flexibility is essential now more than ever, and co-working spaces are best positioned to adapt and reimagine the future of work and workspace because of their innate flexibility and readiness to create value.