Why India Fits Well Into Coworking Culture
Introduction of Coworking Spaces
Who could have imagined that a simple idea like coworking, where individuals, professionals, startups, and students share a workspace to reduce expenses, utilize resources efficiently, and build new relationships, would create such a significant impact across various industries, sectors, and cities in India?
Effects across the board:
Coworking Spaces Beyond Startups: Impact on Working Culture
Although start-ups have been the primary driving force behind the growth of flexible workspaces in India, there has been a noticeable shift in working culture in 2019 on a broader scale.
For instance, the trend of coworking spaces is no longer exclusive to small businesses, as large enterprises such as Amazon and Starbucks are also adopting shared workspaces.
We predict that numerous major corporations will soon follow this coworking trend, not just to reduce expenses but because working alongside young, enthusiastic, and creative individuals has proven to generate more innovative and substantial ideas.
In other words, when working conditions deviate from the conventional approach, it creates a better work environment for all employees.
The Shifting Paradigm in Traditional Industries: Banking, Finance, and Insurance
Regarding traditional industries such as banking, finance, or insurance, we also anticipate a shift towards coworking spaces in the upcoming years.
These industries will join IT and e-commerce businesses in adopting shared workspaces, as it has become crucial for traditional industries to portray themselves as contemporary, up-to-date, and evolving in order to attract young and skilled employees.
Coworking Spaces - Not Limited to Big Cities:
Other cities like Chandigarh, Kochi, Indore, Ahmedabad, and Jaipur are also embracing cutting-edge workspaces that cater to a varied variety of professionals, proving that this trend is not just confined to big cities like Bangalore, Delhi, or Mumbai.
Advantages of the Coworking Transformation:
There are two significant advantages to this transformation.
Firstly, professionals from various backgrounds will work together under one roof, which will lead to increased productivity, job satisfaction, and fulfillment. This can be facilitated through activities like yoga classes, seminars, workshops, and networking events.
Secondly, the development of better workspaces with excellent amenities is leading to the creation of spaces that incorporate nature and greenery to increase productivity.
Additionally, cleantech and facilities that minimize carbon footprints, such as solar-powered lighting and copper air conditioners, are being integrated into workspaces.
The Impact of India's Youth on Coworking Spaces:
Gone are the days of conventional office work, where employees would work from 9 to 5, return home unfulfilled, and have their dreams left unexplored. A change is palpable in India, evident by the agreement of those above the age of 25. With millennials comprising 50% of the workforce by 2020, India is poised to become one of the largest markets for coworking spaces.
Coworking Spaces: Liberating Minds from Conventional Barriers:
The decision to choose coworking spaces marks a significant shift in the dynamics of the modern office. Rent, long-term leases, and security deposits no longer pose significant barriers, freeing the mind to focus on bigger ideas. Today's creative professionals find inspiration in brainstorming sessions over a beer with professionals from other industries, leading to new opportunities and possibilities.
Small businesses now have greater potential to thrive and spread their wings, unencumbered by systems and cultures that hinder creativity. The idea of going to work is no longer synonymous with staring at a computer screen and paying the mortgage; instead, it's about working alongside other like-minded and passionate individuals, pushing boundaries, saving time and money, making friends, and enjoying the process.
In conclusion, the rise of coworking spaces in India has been a game-changer, not only for startups but also for traditional industries, leading to a shift in working culture and creating better work environments. This trend is not limited to large cities, but also smaller ones, and is driven by the growing youth population seeking more fulfilling and innovative work experiences. The advantages of this transformation include increased productivity, job satisfaction, and the development of better workspaces with excellent amenities. Overall, coworking spaces are liberating minds from conventional barriers and allowing for greater creativity and collaboration across industries.