When you think of technology giants like IBM, Microsoft, Facebook, etc. a coworking space is not something that usually comes to mind. However, these firms have been gradually shifting from hosting multiple campuses to managed offices inside coworking spaces.
It is no longer only the freelancers or the startups eyeing the coworking stations. A study found that MSMEs are driving the growing demand for flexible working space followed by IT Enterprises.
Enterprise solutions for established companies offered by Coworking operators provide multiple benefits ranging from low office operational costs to networking opportunities. Let’s take a look at how choosing a managed office space can help companies meet their business goals.
Irrespective of the industry or the size of the company, increasing profits and ROI is the ultimate aim for every business. To increase profits, you either need to increase revenue or take steps to control cost. This is where choosing a managed office for enterprises can help. Office operation expense is the third highest expense item for most organizations (Marketing & Employee cost being the first two).
Not only is the cost of a managed office lower than the cost of renting an independent office, but managed offices are also fully furnished. So you have double saving, you save 18-22% of office operating expenses plus there is no upfront CAPEX cost (which is a saving of almost INR 2,000/- per square feet).
You can get access to shared infrastructure including printers, video conferencing devices, etc. as well as basic must-haves like high-speed Wi-Fi, coffee and tea for employees. In addition, the costs of maintaining the office space and installed infrastructure is also taken off your mind. By controlling costs in this way, companies can see an increase in their profit margins.
Losing Wi-Fi for even half an hour because you forgot to pay the bill can slow down an entire day’s work. It’s a lapse that could happen to anyone – even the most fastidious among us. There’s so much else you need to do that day-to-day operational tasks may get overlooked. Or, they take up so much of your time and energy that your work slows down.
Companies that have moved to a managed office have found that they no longer have to worry about such issues. The cost charged by managed office operators is inclusive not only of the space and furniture but also of a range of services and operational management of the space.
You’re assured of reliable Wi-Fi throughout the day (with primary and back-up wifi lines), electricity backup, security, fire safety and business registration related compliances etc. Hence, you can focus your energy on more important tasks and be more productive. This is one of the most lucrative coworking advantages for enterprises.
Reduced Capital Commitment
Operating out of a coworking space will let you work in a hi-end property at a much lower rent. You can save a lot on capital investment for a fixed office space.
Don’t worry about investing in doing interiors, furnishing or setting up expensive IT infrastructure like Internet Access Points (APs), CCTV, Access control etc. When you choose an enterprise solution from a coworking space, you get holistic service which include maintenance, IT integration, access to workspaces across multiple locations, etc.
You also don’t have to spend money to set up security and other compliance measures. In short, you get more money to spend on marketing or any other aspect of your business.
According to a PWA poll, employers across the globe report that a transition to hybrid and remote work has been beneficial for them 83% of the time. Coworking spaces can offer the flexibility a hybrid work culture demands.
With coworking spaces, it is easy to scale and facilitate remote workstations across multiple locations. You can even easily accommodate the needs of employees who are working from tier 2 or tier 3 cities. Helping your team operate from remote locations can also help reduce commuting costs and save time. Hybrid work model will surely result in increased productivity.
Positive Company Culture
Even in today’s era of remote working, your team needs the right environment to work in. 21% of people who work remotely from home listed loneliness as their biggest struggle. This makes for an unhappy team.
Enterprise solutions by coworking spaces are the ideal solution to this issue. The company and its employees can experience all the advantages of a remote working or hybrid working style and yet always have a workspace which looks and feels like your own (as it is made as per the Enterprise brand and design guidelines) .
Being surrounded by other professionals keeps the team motivated and less likely to give in to the temptation of laziness. Social circles are bound to increase and your company will develop a more positive work culture.
Finding The Right Coworking Space For Your Team
The number of coworking spaces in India is steadily growing. There are approximately 2,333 flex space facilities across Tier 1 and Tier 2 cities across the country.
That said, not all coworking spaces offer the kind of facilities you require. If you are in South Delhi, Noida or Gurgaon check out The Office Pass (TOP) a Coworking & Managed Office provider. Spread across 13 locations, TOP is the largest operator in Delhi NCR. It has managed office solutions for enterprises as well as flexible seating solutions for SMBs.
(The author is Mr. Adiyta Verma, Founder & Ceo, The Office Pass, and the views expressed in this article are his own)