Moving to an office is an important milestone in the journey of every start-up. However, it is easier said than done, especially in a country like India where commercial real estate prices are skyrocketing. More often than not, the traditional office real estate market is not friendly to start-up founders who are typically strapped for cash.

This is where coworking spaces and neighborhood offices score higher than traditional offices. Besides offering the most budget-friendly office spaces to businesses of all kinds and sizes, shared offices also help start-ups in other business aspects, such as networking, collaboration, employee retention, employee productivity, and more.

If you are an entrepreneur caught in the crossfire of coworking space vs. traditional office debate, read on. Here are a few reasons that make coworking spaces a better option for start-ups than traditional offices.

6 Reasons Why Coworking Spaces Are Better for Your Start-up than Traditional Offices

1. Lower Rents
2. Flexible Leases
3. Networking Opportunities
4. Employee Retention
5. Facilities that Reduce CapEx
6. Productive Work Environment

1. Lower Rents

Let’s start with the obvious! According to a report published by Knight Frank, established corporates spend around 9% to 12% of their total operating costs on real estate, while for start-ups, it could be more. One of the main pros of coworking spaces is that they are much cheaper than working out of a traditional office. As indicated by a 2019 report by JLL, coworking offices help save around 20% to 25% of costs compared to traditional offices.

Firstly, the rents/monthly charges of coworking offices are lower and more affordable, helping you keep your real estate costs to the bare minimum. Secondly, the offices come fully furnished – you don’t need to worry about finding furniture that fits the space or looking for professionals to build cabinets or do interior designing.

2. Flexible Leases

In most Indian cities, the lease for traditional offices is for at least 11 months. Not all start-ups are in a position to sign in to such a long lease, owing to financial constraints or rapidly growing needs. As the goals, plans, and requirements of start-ups keep changing, what they need in the first few years is flexibility – that’s exactly what coworking spaces offer.

One of the greatest advantages of coworking offices is that they provide a wide range of packages, including monthly, weekly, or daily plans. You are not tied into a long contract, so you can change the package to suit your growing needs or exit the workplace if required. For instance, you don’t need to rent out a large office or move into a smaller one when you upsize or downsize the team – you can simply add or remove a few desks into your contract.

3. Networking Opportunities

Networking is pivotal for all start-ups – that’s how you find new projects, new clients, new partnerships, and new talents for your team. The most notable difference between coworking and traditional office spaces is that the former has people from many different companies working in the same space while the latter has employees only from one company.

When you work out of shared offices, you’ll meet and interact with several businesses and professionals, including start-ups, established businesses, and freelancers. A quick conversation in the kitchenette could help you solve a problem or you may meet a freelancer who can come on board for a project. For example, when you are launching a product, you can collaborate with a graphic designer working next to you to create posters or partner with a digital marketing agency for your marketing requirements.

4. Employee Retention

The traditional work scenario has been changing for quite a while, and the ongoing pandemic has transformed it like never before. Today, employees are looking not just for fat salaries or steep career growth opportunities. Surveys show that remote working, work-life balance, flexibility, less travel, etc., are equally crucial for employee retention.

Such surveys and insights make one thing clear – start-ups looking to attract and retain talents must move away from traditional offices to a more hybrid model. Coworking offices and neighborhood offices offer flexibility and reduce commuting time, thereby reducing employee turnover.

5. Facilities that Reduce CapEx

Even a company that does most of its work digitally on a laptop or computer needs more than just that. Capital Expenditure or CapEx, which included all physical assets, can drain start-ups financially. For instance, when you set up an office, you need printers, a phone, air conditioners, etc. Besides, to keep your employees comfortable, you may also need to have a coffee machine, a microwave, and a water cooler.

This infrastructure comes built-in with coworking spaces, and you don’t need to worry about buying it or maintaining it. Nor do you have to concern yourself about overheads, such as security, electricity, air conditioning, and housekeeping. Coworking spaces also offer a variety of other services such as lunch-ordering, front desks, a nap room, and de-stressors like a pool table or yoga classes. They also organize training and recreational events in the evening that your team can attend.

6. Productive Work Environment

Employee productivity is important for all businesses, even more so when you are a start-up. One of the core pros of coworking space is that its very design and layout enhance productivity. Unlike a traditional office, shared offices use a combination of open layout designs, closed spaces, and break areas. Such a layout facilitates collaboration and communication while also ensuring privacy when required.

Coworking layouts also offer people a variety of spots to work at. When you are doing regular work, you can pick a seat in the open floor layout, and when you need to concentrate, you can choose a more secluded spot. When you need to collaborate or brainstorm, your team can work out of a cabin.

Final Thoughts 

When it comes to coworking space vs. traditional office, start-ups can benefit immensely from coworking spaces. Shared offices are cost-effective, flexible, professional, and gives your brand countless opportunities to network. You never know- you may even find a mentor on the same floor!

If you are based in the NCR, check out the coworking spaces offered by The Office Pass. These ready-to-move-in spaces give your start-up the perfect platform to build your brand and grow. What’s more, you can also enjoy peace of mind knowing that many of your operational overheads have been taken off your task sheet. To find out more, contact us at 89998 28282.

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Several predictions are doing the rounds for what the post-COVID-19 world will look like – from how it will change our habits to the economy to educational methods. Almost every study on the present and future impact of the pandemic agrees on one thing – workplace practices will never be the same again.

With flexible work arrangements gaining momentum, businesses that don’t adapt to the changing times may find themselves in a crisis. Even the ones that survive the pandemic will have to relook at their real estate consumption and work arrangements. Working out of a coworking office space will greatly help businesses strengthen their position and stay in the game.

Coworking spaces have always had advantages for growing businesses, and COVID-19 has made them even more important. Let’s check out why.

5 Reasons Why COVID-19 Makes Coworking Spaces Even More Important

1. Not Everyone Can Work from Home
2. Pandemic-Hit Businesses Need Cost-Saving Solutions
3. Community Matters
4. Going Hybrid Is the Name of the Game
5. Safety is of Paramount Importance

1. Not Everyone Can Work from Home

One of the most noticeable changes during the pandemic was that businesses all over the world switched to remote working. However, the thrill of not having to go to the office and the freedom to work from the bedroom quickly faded when people found the lines blurring between their personal and professional lives. Working from home, despite its benefits, isn’t for everyone.

Since schools are also functioning remotely, many employees have their children at home, demanding their attention. There’s also the comfort factor to be considered – you need a desk, a comfortable chair, and a room or corner you can call your home office. Considering the space restrictions in Indian apartments, not everyone has the luxury of converting a room to their home office. Without a dedicated office space, productivity dips, and distractions increase.

Situations like this bring out the importance of coworking space in COVID-19 times. It allows employees to work from office spaces without distractions and enjoy all facilities found in a traditional office. Startups, small businesses, and even established corporates can opt for neighborhood coworking, where they can rent desks in multiple offices across the city and employees can work from the one nearest to them.

2. Pandemic-Hit Businesses Need Cost-Saving Solutions

Cutting costs has always been a priority for businesses, especially for startups and small businesses, and the pandemic has made it more important than ever. With economic uncertainty on the rise, companies of all sizes and types are now forced to save costs. The importance of coworking in COVID-19 is unquestionable as it helps businesses reduce operational and capital expenditures.

Working out of a coworking space gives businesses access to a wide range of amenities without the investment. It includes a wide range of office furniture, facilities like Wi-Fi, printers, and scanner, and front desk services, among others. Shared office providers also take care of maintenance management, and thus lower a company’s monthly overheads.

That’s not all! The general housekeeping and sanitization activities are also taken care of by coworking service operators to safeguard members from viral infections like the one we are battling currently. Long story short, moving to a coworking or shared office space during COVID times will help ease the financial strain to a considerable extent.

3. Community Matters

The COVID-19 pandemic has made it difficult for people to meet over a cup of coffee in the office cafeteria or take part in local networking events. The physical distancing norms and restrictions on social gatherings have all contributed to a decreasing sense of community among entrepreneurs and professionals alike. Moreover, a recent study has shown that working from home makes people feel isolated and increases stress levels.

Even before the advent of the pandemic, shared offices were known for building business communities and fostering collaborations. And now, with pandemic diminishing the possibilities of traditional networking, coworking offices serve as one of the best ways for pandemic-hit businesses to reconnect with the community and recover.

The very structure and layout of coworking offices play a key role in encouraging people working within the space to interact and network with each other. Add to that the social events and workshops they organize, you can easily plug into the business community for growth, support, and resources.

4. Going Hybrid Is the Name of the Game

The ongoing pandemic has shown us that things can change overnight – one day, you will be working at your office, and the next day, you will be working from home because there is a lockdown or curfew. Such restrictions, together with safety concerns, have prompted many companies to favor flexible work arrangements over conventional ones.

According to a report named The Future of Work: From Remote to Hybrid published by Capgemini, hybrid working models seem to the future of businesses. And, the importance of neighborhood coworking in facilitating hybrid working cannot be stressed enough. It enables organizations to remain flexible and decentralized instead of being location-dependent.

Switching to a hybrid model that balances work from home and working from a coworking space will also give people a much-needed respite from virtual interactions. Businesses opting for decentralized operations also stand to gain business continuity, not to mention the employee satisfaction factor.

5. Safety is of Paramount Importance

Last but not least, the COVID-19 pandemic has highlighted the importance of coworking spaces in terms of employee safety. It might sound counterintuitive that a shared office space where people from many companies work together is safer than conventional offices during the pandemic, but it is true!

Also Read: What Makes Coworking Spaces A Better Option During Covid Times?

To begin with, all reputed flexible space providers are operating in compliance with COVID-19 protocols. There is dedicated staff to carry out sanitization and disinfection, and the open office layout of coworking spaces makes it easier to have seating arrangements without compromising on physical distancing norms.

Above all, neighborhood coworking allows people to work out an office in their locality. They can walk to work rather than commuting to the centralized office, which minimizes their exposure to the deadly virus.

Coworking: The Way Forward

As the world tries to battle the pandemic and recover from its impacts, entrepreneurs and small business owners will be able to use the resources and network within coworking spaces to regain their footing. Companies that work out of shared offices and adopt the hybrid model may find themselves in a stronger position to survive and grow than those who continue to work remotely or in traditional office spaces.

If you’re looking for a coworking space in Noida, Delhi, or Gurgaon, The Office Pass (TOP) offers just what you need. Reach out to us at 89998 28282 to know more.

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The COVID-19 pandemic, one of the gravest health emergencies of our times, has affected everyone in the business world. As regular commuting and traditional offices have become unfeasible, organizations are switching to alternative work arrangements. According to the latest report by JLL, the pandemic has accelerated the demand for flexible workspaces, including coworking offices.

And, operators of coworking spaces and neighborhood offices across the country have responded to this demand in the best way possible. In addition to offering their services at competitive rates, coworking service providers are also taking multiple measures to ensure the safety and health of their customers.

Nikhil Madan, Cofounder, The Office Pass (TOP)

In this post, Nikhil Madan, Cofounder, The Office Pass (TOP) a leading Coworking Space provider in the Delhi-NCR region talks about various ways in which coworking spaces are revamping their structure, layout, and practices to meet the workplace needs during COVID-19.

How Coworking Spaces are revamping to meet workplaces needs during COVID-19

1. Frequent Sanitization
2. Supplementary Safety Regulations
3. Revised Layouts
4. Technological Upgrades
5. Increased Flexibility
6. Virtual Events
7. Behavioural Signage

1. Frequent Sanitization

Before the advent of the pandemic, sanitization was only part of the daily cleaning routine – it was an activity that happened outside office hours. Office spaces were cleaned at the beginning and end of each day when no one else was around. Today, to ensure the highest level of safety and make people feel comfortable and confident, sanitization and disinfection are carried out more frequently (even during work time).

All reputed coworking operators sanitize their office and premises as per the guidelines issued by the authorities. All surfaces and objects, including desks, telephones, keyboards, chairs, etc., are wiped and disinfected at regular intervals. Hand sanitizers and wipe dispensers are placed around the coworking space so that people can sanitize their hands not just on entering the space but also after each interaction. Masks, gloves, and other sanitation supplies are available to whoever needs them.

2. Supplementary Safety Regulations

In addition to sanitization measures, many coworking spaces have introduced additional safety regulations to promote COVID-19 appropriate behavior. People without masks, whether it is customers, clients are not permitted within the offices. Names and contact details of visitors are recorded for ease of contact tracing.

Coworking spaces with in-house cafes and dining options have extended the lunch period from 12.30 to 3.30 pm so members can stagger their lunch. They have also put posters to prevent crowding in Café. Food and beverages, however, are being made available to customers by following all safety standards. Likewise, members who tested positive can resume work only after producing their COVID-negative certificate.

3. Revised Layouts

Seating arrangements that promote a sense of community and collaboration have been one of the main features of shared offices. Though people who work from coworking offices once looked forward to working at a different spot every day, they now want a desk space that no one else has used. Coworking spaces have had to make structural and layout changes to cater to such changing preferences.

Considering the importance of well-ventilated spaces during COVID-19, shared offices are utilizing their open layout to maximize customer safety. Desks are being rearranged to ensure ample distance between them and have been fitted with plexiglass shields. Layouts that make members face a wall are preferred as compared to previous layouts where-in members used to face each other.

Managed offices, where a company can reserve a private, enclosed space for its employees, are becoming more popular during COVID rimes. Many operators, including The Office Pass (TOP), have added managed office solutions to their offerings. It provides all the benefits of the coworking office along with a dedicated space and privacy.

Also Read: Managed Offices to Gain Importance During COVID Times

4. Technological Upgrades

Technology is playing a significant role in the coworking revamp during the pandemic. Many space providers are installing thermal cameras at the entrance to monitor the temperature of people entering the space. Instead of push and pull doors, coworking spaces are installing automatic doors and hands-free check-in to minimize the touchpoints in the office.

Similarly, lighting is being upgraded to smart lighting that can respond to voice commands or switch on and off automatically when a person enters the area. Software that allows operators to keep track of desk usage across different locations has also proved beneficial to ensure the safety of customers. They can now direct an employee to the closest coworking space with zero physical interaction.

5. Increased Flexibility

Flexibility has always been the most defining feature of coworking spaces as it gives them an added momentum during COVID times. As the pandemic has thrown many businesses into economic uncertainty, people favor short-term agreements and on-demand workstations over traditional long-term leases.

Operators of shared office spaces are looking at ways to make themselves even more flexible than they were. In an attempt to offer customers optimal value for their money, many service providers are allowing customers to pay a fixed monthly rent and choose to have their employees work from an office close to their place of residence, popularly known as Neighborhood Coworking.

For example, you can have your employees work in location A for one week and then use location B for the next week. Or, you can choose desks at multiple locations at the same time, and employees can opt to work from the location nearest to their residence. Coworking providers also allow you to maintain the number of desks while reducing costs by changing the desk position. For example, you can move from window desks on the 10th floor to corner desks on the 1st floor – you may lose the view, but can save some bucks.

6. Virtual Events

Networking is one of the biggest attractions of a coworking space. Before the pandemic, service providers of shared offices used to organize social events, de-stressors, and workshops quite regularly for the people working there. Today, these events have moved online. It makes attendance easier even if the person isn’t present physically at her/his desk on the day of the event. Such events also enable members to plug into the community and get the support they need to survive the challenging times.

7. Behavioural Signage

Behavioural signage is another measure many operators have adopted as part of their coworking revamp. Since repeated reinforcing is required for people to develop COVID-appropriate behavior, shared office spaces are installing behavioural signage and directions in all strategic spots within the office. Posters and boards on the importance of hand-washing and physical distancing are placed in different languages as friendly reminders.

Summing It Up

As companies find their footing in the new normal, coworking spaces become the most practical and the safest choice. With the revamped design, layouts, structure, and practices, coworking spaces enhance safety and ensure COVID compliance. If you’re looking for a coworking space that adheres to safety measures, check out The Office Pass (TOP)  or give a call at 89998 28282.

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