28 July 2020

Why Demand for Co-Working Spaces Will Continue to Rise

by Swetha
Why Demand for Co-Working Spaces Will Continue to Rise

Why is Co-working Office Spaces so hot and in demand?

Well, that’s a good question.

Let’s dive into why the demand for shared offices continues to rise.

The past couple of years brought tremendous changes in the workplace culture across several dimensions.

One such radical shift came in the domain of working space, which was later labeled as shared offices or co-working spaces. Initially perceived as a buzzword, co-working soon became a trend that saw an increased adoption across numerous organizations of all scales within a short period.

The upcoming sections will shed more light on the idea behind co-working spaces and the reasons behind its popularity.

What is Co-Working Space and How Does it Work?

Co-working spaces are essentially shared offices for employees of multiple organizations, where several organizations don't just share the office space, but also its various services and resources.

Even though it's a shared office space, it provides an environment that is similar to the business environment found in successful business enterprises.

Co-working spaces have been effectively replacing traditional offices over the past few years by offering several perks, such as increased productivity and creativity, networking opportunities, and many more, which we'll be sharing in the next section.

Why Should You Consider Renting a Shared Office Space?

Co-working spaces offer numerous benefits, but most importantly, it promotes resource sharing and allows the employees to break away from their traditional office cubicle to enjoy a more relaxed environment.

Perks like these have started luring freelancers to co-working spaces resulting in better productivity. Some of the reasons why you should consider renting a co-working space are:

1. Cost-Effective

When it comes to paying for the office space, co-working spaces can offer better savings for businesses, new and established alike, when compared to traditional commercial offices.

Part of the reason behind this is the long-term lease, which might seem like a no-go to small businesses. Another aspect to this is that the businesses only pay for the desks they use and nothing else, the rest of the perks such as lounge areas, conference spaces, and kitchen are often included.

2. Space Flexibility

Co-working spaces offer plenty of space flexibility, should you require it at a later stage of your business' life cycle.

What makes them a viable option is that co-working spaces are sufficiently available and can comfortably accommodate your expanding workforce by providing you workspace flexibility.

Hotdesks, permanent desks, and private offices are some of the various ways a shared office can offer you additional working space.

3. Better Networking Opportunities

Connecting with like-minded business professionals has the potential to turn into profitable ventures, and co-working spaces present plenty of such networking options to businesses.

With an ample amount of freelancers and companies around, you can easily find new opportunities for collaboration and not to mention the broad levels of support that you can get access to, all under one roof.

Arguably one of the best aspects of co-working spaces is that it allows you to learn from the various skilled people around you.

4. Improved Productivity

Co working spaces allow people to focus better as they are in a working environment surrounded by like minded and hard working professionals. When you see people around you working productively, you will be naturally motivated to do the same. It gives you that added boost of motivation to work hard and go the extra mile.

5. Skill Enhancement

A majority of co-working spaces regularly organize events, talks, training programs, and workshops for skill enhancement of the employees and the freelancers. These events allow people to gain knowledgeable insights and tips from the top players in the industry, learn about the latest innovations and updates, and learn new skills for self-improvement.

6. Upbeat Atmosphere

While your regular office cubicle may provide the employees with a sense of responsibility and motivation, a co-working space can easily offer that and much more.

With a mix of organizations and employees, each one brings a unique work style, dedication, and excitement to the shared work space, that ultimately lightens up the environment.

Apart from dedicated working space, co-working spaces also come with a recreational zone to allow the employees to take a breather from the never-ending cycle of projects and tasks.

Here’s a visual infographic that will help you to understand the importance of shared office spaces more easily.

Why Demand for Co-Working Spaces Will Continue to Rise

The Future of Co Working Spaces

Post COVID-19, shared office spaces are going to play an essential role as the new norm for working professionals.

Apart from freelancers and startups, it's very likely that big companies too shall see the opportunities presented by co working spaces.

Companies will soon be looking for a reasonably good workplace that lowers their company density and brings in employees from their current work from home environment.

With increased professional networking, growing partnerships, and more corporates operating under a single roof, co-working spaces will most likely become the new occupation hub, thus creating more opportunities.

In case, you happen to be a business operating in Kochi and desperately looking for a shared office space to rent, then visit Trans Asia Cyber Park or give us a call.

Trans Asia Cyber Park is built in CSEZ as part of Kochi Infopark's second phase infrastructure development, making it a brilliant atmosphere to work in. The strategic positioning and the World’s finest amenities provide an ideal working atmosphere for corporates and professionals.