Employers and employees today are more conscious of their surroundings and the spaces they interact in. The concept of hybrid and flexible working cultures has led to co-working spaces transforming from being a freelancer driver movement to becoming the need of the hour. An interesting aspect to note here is the ‘Great Resignation’ post-pandemic, which emphasizes how much working professionals value a positive work environment. Thus, the interiors, ambience and overall vibe of these spaces matter.
Many factors have led to the upsurge in co-working across the globe, including India – and they are here to stay. In 2021, there were about 2200 co-working spaces in India, and this market space will cross 50 million sq ft by 2023. Research reveals that India is among the top 20 co-working countries. What initiated as a trend in the urban areas has now witnessed a radical shift to Tier 2 and Tier 3 cities.
The lockdown turned out to be a boon for this sector as restricted budgets compelled employers to think outside the box. Employers sought shared economic spaces, offered a holistic and pleasant environment and would make employees want to return to work. Also, collaborative workplaces help to decrease worries about security deposits and inflexible long-term leases, which pose a big challenge for employers.
Having designed multiple co-working spaces pan-India, we’ve always focused on creating truly innovative designs that are configurable and meet the occupant’s requirements. In particular, co-working spaces require moveable, multi-purpose furniture that helps foster such a collaborative environment. In particular, connecting with people from diverse professional backgrounds is exciting.
Shared workspaces thrive in technology-driven environments and have technologies such as voice tech systems, autonomous sanitizing solutions, air-improving systems, sensor-led switches, and more. In addition, such flexible spaces integrate ergonomics with height-adjustable workstation tables, comfortable chairs, a proper line of vision, etc., to help boost productivity. This blend of functionality and aesthetics creates an energetic work environment that boosts productivity.
People feel that co-working spaces usually have open plans, and thus privacy, especially acoustics, could be a problem. However, one can make the most of limited square footage with moveable screens & glass partitions that provide privacy when required and quickly transform into open spaces to help employees engage and connect.
Also, sustainability is another aspect that drives the future trend towards co-working. Initiatives such as green workspaces with reduced carbon footprints or solar panels make companies and employees want to shift to such shared spaces. In addition, the nuances of employee well-being, spatial changes such as decompression booths/zones, sensory elements, activity-based working and ergonomic furniture reinforce holistic wellness.
Overall, the future for managed workspace business is on the rise. Regulated workspaces now offer more niche segments, such as women’s or student-only areas. While traditional offices will remain, co-working spaces provide better opportunities to work at reduced real estate costs.