Benefits of coworking across the globe

Atrium at WeWork-Galaxy, Bengaluru

The movement towards coworking spaces has taken over the world by storm. With a distributed workforce, easily accessible modes of transport, and a major boom in the start-up economy; a robust and modern way of working is in demand. With the rise in costs of establishing and maintaining traditional offices and with the challenges in the lack of flexibility with leases, shared office spaces are seemingly more convenient.

Hot Desks at WeWork-BKC, Mumbai

Companies that have limited capital or require a workspace for short periods of time, benefit from coworking spaces, as they typically have month-to-month flexibility. For example, WeWork, the 5^th largest startup based in New York, has been the leader in the movement towards the future of work. What this movement is all about is that the traditional way of working is no longer the future, as millennials and even large companies are looking for more within their workspace. With their flexible lease options and location benefits, shared office spaces are serving the needs of young entrepreneurs, millennials, start-ups, and large firms who are testing new waters, as they expand across the world. For corporates, however, employee experience in the workplace is a vital factor. For attraction and retention of talent, a shift is taking place to make an office and work less mundane. Employee satisfaction and motivation is a key driving factor for corporates when they move into a coworking space.

In India, the coworking world is expected to receive $400 million in investments by 2018, according to a study by JLL. Particularly in Delhi-NCR, Mumbai, and Bangalore, coworking spaces will lead to lowered costs in the range of 20–25% when compared to traditional office spaces. According to another JLL study, the main reasons that drive coworking spaces in India are cost, infrastructure, and networking opportunities, which is why the entrance of WeWork in India is making waves around the country, especially in Bangalore and Mumbai. They are changing the coworking game completely, as they strive to be more than just a workspace. For example, WeWork’s global network of workspaces allow companies and people to grow together. One of their aim’s is to transform buildings into dynamic environments for creativity, focus, and human connection. So more than just office space, WeWork believes in creating spaces where people can connect and create meaning together, while using space more effectively and efficiently. Globally they’ve made a name for themselves with their 175,000+ members in 200 physical locations across 20 countries.

Nooks at WeWork-Galaxy,Bengaluru

Following the rest of the world, India as well is changing in how and why people work. More people want to work on the projects they’re passionate about in an energetic environment where others are all on the same page; trying to do their best work. WeWork also strives to connect people through the design of the workplace in order to create a positive energy, an atmosphere that encourages people to feel part of a community; something larger than themselves because the space is essential to people’s everyday experience. It’s in the design of their stools and chairs, the lighting, the width of the hallways, the conference rooms – everything you see and everything you feel.

Printing Nook at WeWork-BKC, Mumbai

This feeling of community and working better together, along with lowered costs and lease flexibility is why coworking and shared office spaces are gaining traction around the world. It is anticipated that by 2020, coworking spaces will overtake the traditional office.