The trend of shared office
spaces was almost unheard of in 2007, but since the past few years,
collaborative workspaces have become popular with the emergence of millennials
coming into the workforce. They are opposing the need to obey traditional
office structures, demolishing 9-5 mindset, breaking down the typical corporate
hierarchies and are reformulating business norms. Many millennials are becoming
entrepreneurs, setting up their own start-ups and are shaping the trends of how
and where we work.
However, the rise in the popularity
of shared offices is not entirely dependent on millennials. There are various
factors making coworking spaces, the perfect fit for those who are looking for
efficiency over tradition.
What is Shared Office Space?
A shared office space also
known as a coworking space is a collaborative workspace where SMEs,
freelancers, and entrepreneurs can enjoy the benefit of a well-furnished and
equipped office space without having to commit to a long-term lease and the
hidden costs it involves. The members of a shared office usually need to pay on
a monthly basis to gain access to amenities like private working space, meeting
rooms or special equipment.
The Executive Centre (TEC) for
example, is a high-end, exclusive business centre offering unparalleled
amenities and services to meet your business needs. All of its coworking
offices in India such as the shared office
space in Chennai are equipped with a productive atmosphere,
state-of-the-art infrastructure and unmatched business concierge services,
providing an elevated and flexible working experience.
Why Millennials Prefer Shared Offices?
Cost-effective:
Start-ups and developing businesses do not have the funds to buy or rent an
office space, making them inclined towards an effective solution. As opposed to
traditional office spaces involving huge costs and long-term contracts, shared
office spaces are a lot cheaper and generally require payment on a monthly
basis. Therefore, more individuals prefer to go for a shared office space for
rent rather than renting traditional office space to uplift their
business.
Minimal responsibilities:
Setting up a business in a coworking space means fewer things to worry about.
Things like the pantry, furniture, cleaning, and maintenance are taken care of
by the serviced office owner. This is one of the main reasons why millennials
prefer renting over ownership.
Access to networking: Shared
office spaces offer a productive environment with professionals from
different backgrounds sharing one common roof. This not only helps in the
sharing of ideas but also sparks creativity and innovation. Moreover, it serves
as the perfect place for people to connect with like-minded individuals and
widen their network.
The Executive Centre’s coworking
offices such as the shared workspace in Chennai is home to a pool of
talented individuals who frequently interact with employees from different
start-ups and thus, enhance their personal as well as professional
relationships.
High-end amenities:
Coworking offices are not just spaces to set up a business. They offer you much
more. Some of the top-notch shared offices provide world-class amenities
compared to the traditional ones. Be it high-speed internet services, modern
resources to ensure smooth flow of operations or pleasant and cosy interiors to
impress your clients, all these services will be offered right away, as you
step in.
The Executive Centre’s serviced
offices such as the shared office
space in Bangalore has a distinguished address and is equipped with
top-grade facilities required to empower your business.
Prestigious locations:
According to a recent survey, it has been found that most millennials prefer to
live in urban areas where essential resources like medical stores, grocery
shops, restaurants and so on are easily accessible. Shared office spaces
generally occupy distinguished locations of the city, making them a perfect fit
for millennials. Due to this factor, millennials look for shared
office space for rent in Bangalore, Mumbai, Gurgaon and so on, keeping
in mind their desire to grow professionally in a city.
As a result, despite drawbacks like
distractions, inability to customize and lack of privacy, shared officespaces are rapidly becoming the millennials’ dominant choice for a place to
work.
