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What Makes Coworking Spaces A Better Option During Covid Times?

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The impact COVID-19 has had on our working style is fairly apparent. Remote working is considered the new normal, and even in places where offices have reopened, white-collar professionals will probably not return to the traditional 9 to 5 routine till the pandemic situation gets under control.

Unsurprisingly, these changes have also been reflected in office space consumption. According to the India Real Estate – Residential and Office H2 2020 report by Knight Frank India, gross office space absorption in India fell from 60.6 million sq ft to 39.4 million sq foot over the past year. As the road ahead is likely to be slow and uneven, companies must relook at their real estate footprint.

Is There Still A Need for Office Spaces?

The COVID-19 pandemic has proved that most of what you do from the office can be done from home. So, it raises the question – is there even a need for businesses to have an office space anymore? The answer is simple – yes!

For starters, offices aren’t just a workplace – they also serve as networking hubs. More often than not, your office is the face you project to your clients, while it symbolizes stability for your vendors & employees. It is also a learning platform for newcomers and younger employees. Though work may continue remotely, there is still a need for companies to have an office.

However, it doesn’t mean that you must have a large and centralized office for everyone to work in. In the current COVID times and probably for a few months to come, coworking spaces may be a better solution.

Why Coworking Spaces Are A Better Option During COVID Times? 

Whether you are looking for a make-shift arrangement to tide over the difficult times or a sustainable and flexible work arrangement, coworking offices perfectly fit the bill. Let’s check out the advantages of shared offices during COVID-19, and beyond:

7 Benefits of Choosing Coworking Spaces During Covid Times

  1. Cost-effectiveness
  2. Flexibility
  3. Building A Sense of Community
  4. Office Decentralization for Business Continuity
  5. Productivity
  6. Networking
  7. Safety

1. Cost-Effectiveness

Rent is one of the biggest overheads for any business. Irrespective of whether they’re having profits or losses, rents are a constant outgoing cost. The pandemic has affected almost everyone’s profit margins, and for small & mid-size businesses, maintaining their offices is becoming increasingly difficult.

Coworking spaces offer 15-20% lower rentals and shorter leases, making them a cost-effective alternative to traditional offices. Instead of a single large office to house everyone, businesses can now rent smaller but distributed Neighborhood Coworking Spaces that can be used by different employees based on their proximity to these spaces.

2. Flexibility

Flexibility is a key shared office advantage in COVID-19. The administrative bodies in many Indian cities are imposing and easing restrictions on mobility when the number of COVID-19 cases increases and decreases. Coworking spaces give businesses the flexibility needed to comply with these changing regulations. The short leases make it easy for companies to switch from work-from-home to work-at-desk models and vice versa.

You can also add and remove desks as per your business needs. For example, you may want a larger space during a product launch week and fewer desks at other times. It’s the ideal solution in the current scenario.

3. Building A Sense of Community

In addition to being a space where people can work, coworking spaces also provide a sense of community & togetherness that is much-needed during COVID times. Working from home for months could trigger feelings of isolation, anxiety, and depression. According to the survey conducted by SAP, Qualtrics, and Mind Share Partners, two out of every five respondents claimed that their mental health has deteriorated since the COVID-19 outbreak.

On the other hand, coworking spaces facilitate interactions that help employees stay emotionally and mentally strong. It also helps them feel that they are part of a team even though they may not see their colleagues every day.

4. Office Decentralization for Business Continuity

For businesses that need employees to be physically present in offices, coworking spaces are the best way to decentralize the workforce. It helps maintain business continuity even if one of the employees tests positive for the disease. Since there are multiple office spaces, there’s no need for everyone to be quarantined at home. Employees in other coworking offices can continue working without any disruption.

are coworking spaces worth it

5. Productivity

Despite all its benefits, the work-from-home model has its own challenges in India. Remote working often blurs the line between an employee’s personal and office time, and given the many distractions, productivity may not be consistent.

Spaces that promote coworking in COVID-19 are an easy way to overcome this challenge. You can set up multiple coworking office spaces across the city and tell employees to work out of the space closest to them. As shared offices are equipped with all amenities, there is also no worrying about productivity being hampered by technical issues such as internet unavailability.

6. Networking

One of the disadvantages of working from home is that employees have no opportunity to network internally or with people from other offices in the building. Coworking offices allow solopreneurs and small businesses to coordinate resources, network, and grow their business. Many coworking spaces conduct online networking events and webinars to bolster networking and collaboration.

7. Safety

Safety is one of the biggest factors that highlight the heights of coworking importance. If you were to continue working out of traditional office space, you would need to set aside additional resources to sanitize your workspace daily. On the other hand, when your employees work out of coworking spaces, the coworking operator takes care of all sanitization measures. Setting up multiple coworking office spaces across the city also reduces the distance your employees need to travel to get to the office. The less they travel, the lower their exposure to the virus.

To Sum It Up

When you are looking for a work arrangement that ensures productivity and professionalism while keeping employees safe, there’s nothing better than coworking offices. The benefits of coworking space during COVID-19 make it a better option than traditional offices.

Want to keep up with the changing trends in the office real estate market? Take a look at the coworking facilities offered by The Office Pass (TOP). With transparent leases, elegantly furnished offices, and a host of facilities, we cater to the needs of businesses while keeping people comfortable and safe. To book a tour of our office spaces, call us at 8999 828282.

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5 Best Locations for a Coworking Space in Noida

5 Best Locations for a Coworking Space in Noida 20121 that you should know about

by | posted in: Coworking in Noida | 0

Over the past few years, Noida has become one of the top destinations for office spaces in the NCR. The city offers excellent infrastructure, connectivity and lower rents compared to Delhi and Gurugram.

Some companies based in Gurgaon are even contemplating moving to Noida in a bid to free themselves from the Haryana government’s 75% job reservation bill for residents.

Microsoft, Samsung, Barclays, HCL are some of the companies that have set up offices in Noida. However, not all companies need an independent, full-fledged office. The Covid pandemic has proved that working from near home or Neighborhood Coworking is a practical possibility and hence, many companies are now looking at Coworking spaces here. The city of Noida is mapped into sectors. And so we’ve made a list of the top 5 locations for coworking space in Noida.  Let’s dive into the list!

Coworking Space in Noida

5 Best Sector for a coworking space in Noida in 2021

  1. Sector 4, Noida
  2. Sector 16, Noida
  3. Sector 18, Noida
  4. Sector 29, Noida
  5. Sector 44–45, Noida

1. Sector 4, Noida

Sector 4 is essentially a commercial/industrial sector. The sector boasts of great connectivity to other sectors like Sector 3, 5, 9 and 19 and with South Delhi through the Delhi-Noida-Delhi (DND) expressway. At a distance of just around ½ km, Sector 4 is also well-connected to other parts of Noida and NCR via the Sector-15 & 16 Metro Station.

Many MNCs have already set up offices in the sector and hence, there are plenty of easy networking opportunities for people working out of shared office space in Noida. Since the city prioritizes residential and commercial spaces equally, it’s the ideal location for co-working spaces.

2. Sector 16, Noida

Sector 16 is very close to residential neighborhoods like Sector 15, 27, 28 and 29, township projects and the Noida Special Economic Zone. It houses the World Trade Tower – a prestigious complex with many MNC offices.

The sector is well connected by road and metro and is at the entrance of the DND flyway. It has a metro stop for the Blue Line within walking distance. Companies looking for office space in Noida may find this sector ideal if their employees live nearby.

3. Sector 18, Noida

In many ways, sector 18 is the heart of Noida. It’s a commercial area with plenty of offices, retail outlets, hotels and other commercial establishments. It’s the ultimate shopping destination in the city. In terms of connectivity, Sector 18 has its own metro station and is well connected to all the other parts of the city. The sector is also well connected by road to other parts of Noida and the NCR. While the sector itself may not have many residential spaces, it is close to several residential sectors and hence if you’re looking for a shared office in Noida, this is a great choice.

Coworking Space in Noida

4. Sector 29, Noida

Sector 29 is mostly residential but also one of the prime locations for office space in Noida. The sector is very close to sectors 27, 28 and 37 – comfortable residential sectors with well-developed infrastructure, good schools, and co-working spaces.

The Sector does have a few commercial complexes with offices and retail outlets. In terms of connectivity, Sector 29 is on a central axis that keeps the offices in the sector well connected to other parts of the city and NCR.

5. Sector 44–45, Noida

Sectors 44 and 45 on the fringes of Noida are located along the Noida-Greater Noida Expressway. The locality is a blend of residential and commercial spaces and hence ideal for coworking in Noida. They’re densely populated areas with good road connectivity.

It is also close to the Botanical Garden metro station which is a stop for both the Blue and Magenta lines. The DND Flyway is a mere 15 minutes drive away. In terms of networking, the sectors are close to corporate parks, the Noida Special Economic Zone, IT hubs and Noida Phase-2.

Sectors Around The Noida-Greater Noida Expressway

You don’t have to always work out of an office in central Noida. Sectors along the expressway connecting Noida and Greater Noida are a great option when companies need an office for rent in Noida.

It’s a 24.5 km long corridor that includes sectors 92 to 94, 96 to 100, 105, 108, 125 to 137 and 141 to 168. The sector is emerging as a major growth corridor and has everything needed to be self-sustaining.

The Right Shared Office Space In Noida

There are numerous advantages to having employees work out of coworking spaces in Noida as compared to setting up independent offices. That said, not all coworking spaces are equal in terms of the services offered.

The Office Pass (TOP) has coworking space in sector 4, Noida. Taking membership of the Coworking space gives the team access to not just a table and chair at but also a number of shared facilities like printers, coffee makers, security, hi-speed WiFi and access to meeting & conference rooms.

Want to know more, reach out to The Office Pass (TOP) at 8999 828282.

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The trend of Flexible Coworking or Shared Office Space

5 Ways Coworking Spaces Can Help You Generate More Business

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For a business to be successful, it isn’t enough to have a good product or offer good service. You can have the best product/service in the world but if no one knows about it, it doesn’t matter. So, if your business is to succeed, you need to generate leads and put your business on the path to growth.

Today, many businesses are choosing to work out of a coworking space rather than lease a traditional office. A coworking office space has many benefits. It optimizes operational costs, is flexible, scalable and can even help you generate new business. Here is how you can use Coworking Spaces to generate more business.

DLF Corporate Green Coworking Spaces

5 Tips to generate more business leads through Coworking Spaces

  1. Presents More Networking Opportunities
  2. Find companies that provide services to help your business grow
  3. Collaborate to expand your product portfolio
  4. Hire & retain superior talent
  5. Create the Right Impression to Increase in Business Closure Rate

Presents More Networking Opportunities

With traditional office space, your day-to-day interactions are largely limited to your team members and other people working for the same organization. To meet people from outside the company, you would need to set up meetings, travel to events and seminars, etc.

One of the biggest benefits of coworking space is that you get to meet many more people from outside your company in a day. Coworking spaces seat everyone from small and medium-sized businesses to freelancers and entrepreneurs just starting their dream company. It’s easier to find people with interests aligned to your business goals.

You never know –random conversations in the kitchenette could turn into business leads. You might even find like-minded people you could work with to gain an edge over your competition.

Find companies that provide services to help your business grow

The beauty of working in co-working spaces is that you share the space with other companies that have varied interests. For example, there may be a travel agency, recruitment services, accounting & finance companies, app developers, etc. on the same floor as your company. Since space is shared, developing relationships with these companies becomes easier.

Let’s say, you want to develop an app for business growth. The app developers in your co-working space can help you do this. Given the proximity of your working space, you can work closely to design, develop and maintain the app. Once it’s ready, you can reach out to a new audience and generate many new business leads.

Similarly, you can reach out to the accounting company to analyze your accounts and assess your strengths. They may be able to identify a business avenue you aren’t utilizing to its full potential.

Collaborate to expand your product portfolio

It’s very difficult for a company to generate leads with a limited product range. R&D for new products can take time but if you’re working out of a coworking space, there is an easier route – collaboration.

While working in coworking spaces, you will have plenty of opportunities to meet working in sectors connected to yours. Forming an alliance and collaborating with these companies can help you expand your product range and get your brand introduced to a fresh audience.

For example, if your company deals with wall paints, you could collaborate with a wallpaper brand to add a new vertical to your business. Similarly, chocolate manufacturers can collaborate with coffee brands.

Also Read: 5 Successful Companies that started in Coworking Spaces

Hire & retain superior talent

It takes a specialized skill set to connect with an audience, promote your product and form relationships with consumers that trust your brand. When you have a centralized office space, you are limited to hiring people by geography. However, if you work out of co-working spaces, you can de-centralize your offices and hire people from anywhere.

When you hire the right talent for your sales and marketing teams, your company will be better equipped to identify business leads and act on them. The de-centralized setting for employee location means that you can also reach out to audiences in new locations.

Also, a co-working space reduces the commute time for your employees and improves their work-life balance. The result- they’re more motivated at work.

Create the Right Impression to Increase in Business Closure Rate

When it comes to generating new business leads, first impressions are important. Each of these meetings can be used to promote your products and services. Whether you’re meeting clients, candidates or investors, working in coworking spaces gives you access to well-designed meeting and conference rooms.

These rooms are equipped with the infrastructure you might need and are maintained by the space owner. They also take care of all necessary sanitization protocols.

If you don’t like the generic décor of a coworking space, you could work out of a managed office. This could be considered a subset of coworking spaces.

One of the key differences is that leasing a managed space allows businesses to customize their décor to match their branding. Hence, when you meet with potential customers, your branding message is much stronger and you can create a positive sentiment around your brand.

Finding the Perfect Coworking Space

Working out of a co-working space helps businesses of all sizes find new opportunities for growth and business. These spaces typically charge a fee per seat. Rather than consider this an expense, think of it as an investment that offers limitless opportunities.

If you’re looking for coworking space in Noida or coworking space in Gurgaon, check out managed offices by The Office Pass (TOP). Choose from a variety of formal, flexible spaces that can be fully customized and scaled to your business needs. It’s the perfect blend of a conventional office and a coworking space. To learn more, call 8999 828282.

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Experience or Agility – Which Is More Important For Growth?

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Once upon a time, companies believed that people could work only if they had an office to go to. If one were to search for a silver lining in the pandemic, it would be the realization that working from home could be as efficient as working from a centralized office space.

It’s proof that companies need to be flexible in order to succeed and has sparked the debate on whether prioritizing an agile way of working or employee experience is more important.

The Importance Of Agility In An Organization

Agile working refers to an organization’s ability to respond quickly to internal and external changes. This response must be such that it maintains productivity without interfering with regular operations and while maintaining customer satisfaction levels. The faster an organization can adapt itself to new situations, the more likely that company is to succeed.

The Importance Of Employee Work Experience

Along with profit, companies strive to achieve a low turnover rate. Nobody wants to constantly hire new employees and invest in their training only to see them quit and work for competitors.

Today, it isn’t only salary packages that determine an employee’s loyalty. It’s the experience the employee has working with the organization. This concept can be considered a variation of customer experience and can be described as the perceptions employees hold about their work experience.

A study shows that 43% of Indian IT and business leaders consider employee experience to be critical in achieving business objectives.

Is One More Important Than The Other?

In today’s scenario, companies cannot afford to choose between agility and experience. Focusing only on agility could result in short-term tactics that are difficult to sustain in the long run. Agility may even be detrimental in ambiguous situations.
Let’s say a company decides to open a new office in a city where they expect high sales. If their expectations aren’t realized and the actual sales don’t match the projections, the investment made into the new office space would be accounted for as a loss.

Also Read: Can Work From Home Take Away Your Competitive Intensity?

On the other hand, keeping your focus only on experience may lead to decisions that are not always in the organization’s best interests. For example, through a software company may need to find a way for employees to work from outside the defined office space, letting them access all files may make it difficult for them to protect their creations.

The Better Decision: Balancing Agility And Work Experience

There are a number of factors reshaping today’s workplaces – demographic shifts, urbanization, power shifts, technology, etc. In the face of these factors, companies need to prioritize employee experiences and company agility equally.

An agile way of working can help avoid delays in work processes, promote creativity and build an atmosphere of trust in the organization. It allows HR to re-align the workforce to meet evolving requirements.

Similarly, maintaining a focus on work experience helps maintain loyalty to the company, build a positive employer reputation and motivate people to do their best towards helping the company achieve their goals.

How Can Your Organization Improve Agility And Experience?

For organizations to be successful in the current scenario, they need to adopt a holistic approach that is not limited to the office premises. In the near future, your employees won’t probably be coming in to work daily. That said, they also will not be working remotely all the time.

As an organization, you need to be prepared for situations such as employees attending work on alternate days, or once a week. You also need to make their experience at the workplace better. This includes getting to and from the office and minimizing their exposure enroute. In such cases, do you really need a large central office space? Or, would it be better to set up multiple, smaller-sized coworking offices closer to where your employees live.

Replacing Conventionally Leased Offices With Managed Offices: The Need Of The Hour

Managed offices are an ideal solution. This has many benefits. Instead of investing in setting up traditional leased offices, it allows you to have your own space at optimized costs. A managed office can be described as a blank space that can be leased out for medium to large durations and customized to complement your brand vision. This solution is easily adaptable and hence agile and simultaneously designed to improve the working experience. Some of the key ways it achieves this balance are:

  • Short lease periods help the company scale up and down as needed
  • Customized working spaces give employees the sense of working from an office space and boosts productivity
  • The ability to brand spaces maintains a professional appeal
  • Optimizing operational costs allows organizations to realign their budget towards measures needed to improve an employee’s experience
  • Decentralized workplaces reduce commute time for employees and hence improves their experience while maintaining work procedures

There are a number of managed office space providers. If your company chooses to go along this route, you must ensure that you sign a lease with a trust service provider. The Office Pass provides managed office spaces in Gurgaon, Noida and Delhi.

In addition to basic infrastructure and the ability to customize their space, The Office Pass offers easy, transparent leases without any of the obligations of traditional leases. To learn more, call now at 8999 828282.

BOOK A COWORKING TOUR