Office Wars – Coworking Vs Conventional
Does the conventional Indian office space ensure productivity or does coworking promise a better work culture to the millennials?
What workers actually want in an office space?
A. This Kind of Environment: Every worker in today’s era looks for a collaborative and friendly environment to work in. Not only is it beneficial for business, but it also helps us stay calm and composed as well.
B. A Second Home: One also wants a workspace where he/she can work with peace. We all want an office which we can call our second home.
Round 1 – Straight Ups Facts
About 10 years ago, coworking was just a new trend which should have phased away by now, but its major presence even till now shows its success in the workspace industry.
A. Coworking is better in terms of productivity & employee happiness:
Coworking which took off as a major trend in the year 1999 due to the popularity of Gracia Work Centre in the Spanish city of Barcelona was started by an American author Bernard DeKoven. He realised the fact that people were too isolated in offices and hence their productivity suffered.
i) Global Coworking Survey 2017:
From 1800 coworking offices in 2012 to a staggering 14000 coworking offices in 2017.
Also, 71% people collaborated with others in coworking spaces.
89% people were happier & 84% were more motivated when they switched to coworking from traditional office spaces.
B. Conventional offices are detrimental to health and unproductive as well:
Conventional offices are bad in terms of a collaborative environment, they did not promote productivity and were really more restricting than coworking spaces. Even one step further, they were detrimental to one’s physical and mental health.
i) Bureau of Labour Statistics 2012:
33% cases of all 2011 injuries were MSD’s (Musculoskeletal Disorder) due to lack of ergonomic furniture in conventional offices.
Round 2 – Where It All Changed
The culture of hustle has arrived, millennials want to work in a flexible environment with flexible timings.
A. Coworking has changed the perception of office by millennials:
Coworking is a place where collaboration is encouraged, the whole concept of coworking is based on networking to link similar minded people with their counterparts to create new products and services.
Even as I sit in one of the most exciting startups of our time, the only thing that has made it so good it’s the fact that it itself based out of a coworking setting.
70% of the workers mentioned below are expected to be millennials.
In 2011 – 43,000 people, By 2014 – 2,95,000. By 2018 – an estimated 2,370,000 are expected to join coworking.
B. Conventional Offices have failed to innovate:
- Old and New: Conventional offices have failed to innovate. They tend to bring the same experience to the old and the new. The new doesn’t really like that.
- Monotony: Hence, to break the monotony, they choose the better option of coworking which has a friendly campus, more amenities and better overall experience.
Round 3 – Fad or Future?
Is coworking here to stay or just a trend that will soon fade away?
A. Coworking is experiencing tremendous growth.
i) Emergent Research Predicts
It has already predicted an average growth of around 77% over the next four years. This is due to coworking spaces being larger than conventional spaces. They have better-designed workspaces with ergonomic furniture as well.
You want to be Busy or Productive, Decide!
B. The conventional office is seeing companies and employees switch to coworking.
- Big Giants: Companies such as Paytm, Wipro and Gyanwave are rapidly switching to coworking rather than spending a huge sum on money conventional offices now.
- New Trend: This affirms the fact that more and more companies are realising the importance of coworking in today’s’ era.
Round 4 – Coworking Is The Future
Coworking is the place where ideas, products and great thing happens.
A. Coworking is now accepted as the future office workspace:
- A Modern Alternative: A new office concept of a coworking centre is a simple concept! This is based on the idea that people like to be around each other and work in a collaborative atmosphere that is exciting and friendly.
B. Conventional offices aren’t what they used to be back then.
- Enticing option: Conventional offices are still designed with cost-effectiveness in mind, they don’t stem roots for innovation and creativity.
Hence, the rapid growth of coworking spaces in India is largely attributed to the fact that coworking is a far enticing option for corporate employees, freelancers, digital nomads and millennials in general.
And The Winner – Coworking!
Like All Good Things.
- Like all the good things in life, everything eventually ends, from our college to our lives. We have to make peace with that. The conventional office has actually surpassed its life.
- Like the rituals of the past, the breaking of the Berlin Wall and the end of the Soviet Union, the conventional office has slowly seized to the new generation of workers.
Coworking is the successor to the conventional office space, it’s the way forward. It’s hip, modern, aesthetically designed, collaborative and a great place to network and meet new people.
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Innov8 is a workspace and community startup based in India. Innov8 take prime commercial spaces and convert them into thought led, well-designed workspaces for businesses, entrepreneurs, and freelancers. Innov8 has centers across all major cities in India.
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