The work lives of Indians has seen considerable progress from small work areas and long working hours. Millennials are going to make up for the 50 percent of the global workforce by the year 2020, states a recent survey by PwC. GenX and millennials together have accelerated a positive cultural change which has led to a disruption of the conventional workspace. For this generation, the office is not only a place to sit and snarl but rather a place where they could accomplish imagination and profitability.
Co-working spaces are so much more than just the design and vibe. By aiming to keep the workforce engaged, they make up for a perfect work environment for genX and millennials, here's why
The cost factor
Today's workforce is high on the concept of shared economy. New age freelancers and start-ups prefer saving the high costs that go into committing to real-estate and maintenance. Opting for co-working spaces saves 15–30 percent of the costs that go into realty and technological backup. Modern co-working spaces are providing a good quality infrastructure equipped with VC rooms and hyper-connectivity solutions. Getting one’s office at a nominal cost in itself is a driving factor for any new-age entrepreneur.
Amenities that cater to their lifestyle needs
Young professionals enjoy their early cup of espresso, breakfast, and chitchat; each being an element of great importance for them to get past through their day. Co-working spaces cater to the millennial need for a fit lifestyle. From in-house dieticians to weekly pilate sessions is what is keeping the charm among this new generation. Gaming arcades and committed 'Frustration rooms' that eases the mind, is on the priority list of genX and millennials. Amenities like gyms, spas, fun zones and an unlimited supply of great Arabic coffee for modern professional, adds to a list of reasons to spend more time at one’s workplace.
A focus on holistic wellness to keep the stress at bay
Co-working spaces have evolved from being mere work destinations to a space that fosters the holistic development of co-workers. Initiatives such as bring your pet to work, group vacations and reading sessions add further color to the life of the employees, providing them with an ideal avenue to create engaging peer communities. Some of them also have a nutritionist onboard and also offer meditation sessions to their employees.
Encouraging the female entrepreneurial spirit
Co-working spaces are helping women entrepreneurs to work freely while assisting them to maintain a work-life balance. Co-working spaces are hosting mentorship and pitching sessions exclusively for women entrepreneurs to give a boost to their business ideas. Indian co-working players have also come up with crèche facilities to help women work independently without having to worry about their children. Some are also providing woman entrepreneurs an option to choose a workspace close to home.
Access to prime locations
Apart from being a learning hub for GenX and millennials, co-working spaces give priority to prime locations. Thereby, providing airport proximity which acts as a big attraction for many companies. It enables easy commute for professionals from all across the world. The event area of these spaces easily absorbs the increasing number of employees and also helps in organizing mega events.