Co-working V/S traditional offices : A guide before making your choice
Coworking Spaces :
There are more than 2000 coworking spaces in India. The coworking space is already accounting for 20% market share in all over office space demand and is estimated to touch 35% by the end of 2025. Many companies which reached exponential growth in various industries are known to have started from a coworking company. And we never know when upcoming generations will start feeling that it’s “uncool” to see that everyone under the same roof is from the same company! Well, there are some problems you may find while coworking. Don’t forget to read the blog Productivity and managing time to find the solutions to your problems while working solo in a coworking environment.
Even though the coworking spaces are increasing day by day, there are a lot of challenges faced by them at the same time. Like financial management, marketing, separating out fraud companies and weeding them out, human resources, Installing technologies, etc. All of these are only managed by time and dedication. The main risk while having a coworking space of our own is not knowing the nature of the company and providing them space. Henceforth it’s important to know if they are a government registered company or not and what they actually do. There must be proper agreements in favour of both; the company and the coworking space. Rules and regulations must be followed according to the law. Apart from that there are many benefits of coworking. It is the best option to socialise and increase your network. You can make more beneficial connections with the people. Get more amenities at lesser costs, and so on.. The list is endless. There are people who do remote work or work from home who then switch to coworking spaces to avoid basic distractions or dull environments.
Compound annual growth rate of Coworking spaces in Asia in the upcoming years.
Traditional Offices :
The traditional offices are the very common ones where people from the same office work under the same roof. They share the same identity from the office they belong to. Thus there is limited human interaction amongst these people as they can only meet new people after the hiring process. For you to stand out in this traditional office or corporate world, you need to compete with your own colleagues. No matter how experienced you are, you need to prove yourself every time. So it makes you see a rival in your colleague as long as you both are doing the same work. There is proper supervision from the managers or the team leaders, ergo, less chances of making mistakes. But in today’s era, people rarely acknowledge each other even if they work together. Meetings are usually done online via google meet or Zoom meetings by sitting in separate rooms.
With developing technology, human interaction is becoming less and less common. It won’t be surprising if I say that the next generation will hardly know their neighbour’s name! This is where, you may say, that coworking may help. It increases your network much more than the regular offices. You get different opportunities from various backgrounds by having people around you. Apart from that, you make meaningful connections with the people surrounding you when you don’t compete with each other. Studies have shown that there is a 72% increase in productivity for people who co-work. Unlimited possibilities for collaboration works like feather on the hat.