Demand for flexibility, cost-effectiveness drives co-working spaces boom
“It had come to a point when I was thinking I’d have to quit but now, my office is close enough to nip out in case of anything urgent at home,” says the 33-year-old.
Providing convenience and flexibility for employees on one hand, cost-effectiveness, and asset-light models for employers on the other, coworking/managed spaces are booming. Demand for such spaces is soaring in large metros and Tier-2 cities alike as companies tighten return-to-office rules.
Large enterprises, IT/ITES, and Fortune 500 companies, apart from startups and solopreneurs are increasingly opting for such options, said coworking spaces including WeWork India, 91Springboard, Incuspaze, and Dextrus.
Demand is coming in across sectors as varied as tech, IT/ITeS, professional services & consulting, health & pharma, manufacturing, food aggregators, BFSI, BPOs, GCCs, airlines and media, with Welspun One, Harvard Business School, AdaniConneX, Kotak, RaboBank, JPMC and Nielsen among those opting for such spaces, said operators who are seeing occupancy rates of anywhere between 85-100%.
“With the declining trend of work from home, flexible office spaces are fast catching up in Tier 2 cities owing to the rising trend of satellite offices and back-end offices,” said Sanjay Chaudhary, founder & CEO, Incuspaze. “Additionally, as companies aim to reduce costs, maintain proximity to their staff, and retain valuable employees by offering flexible work arrangements, the need for flexible
