It is not just Startups and Small Businesses moving into co-working spaces but bigger corporations are also turning towards establishing there offices in co-working spaces and the major reason for this shift is not the networking part or the business part but majorly it is all about the operations and supervision facilities that makes it easy for the bigger corporations to work things out. The infrastructural chaos is the worst in terms of handling an office aspects and shared office spaces in Gurgaon has become the most efficient modern day solution for the premise in hand.
How Co-Working works for them?
The corporations have larger number of employs in comparison to startups and SME’s and that is why they generally take a segregated office space. Also, some confidentiality and privacy is one aspect that is highly in demand when it comes to these larger organizations.
So, they might enjoy the co-working space events and infrastructure but at the end of the day it is about more reserved space rather than open desks of sorts.
But, Why Co-working?
They choose office spaces because that helps them following up with the infrastructural aspect and the operational quality which leads to bringing down the maintenance cost for a corporation.
The reasons the corporations are catching up with startups is because they are turning towards technological infrastructure which leads them into inculcating a smaller community of employees when it comes to running the business.
Another aspect is that these serviced co-working spaces intend to expand and sometimes aggressively into major metropolitan cities for instances India Co-working spaces in Gurgaon or US co-working spaces in NY or Co-working space in London and for this reason they end up establishing smaller offices which provides them more than just virtual presence. Therefore, satellite offices help corporations create a pan nation presence or establish a physical presence in the industry.
How Do Co-Work’s Customize For Corporations?
The co-working spaces began with the concept of catering to very small businesses and startups with the concept getting popularized the market trend grew branching itself catering all kinds of consumers.
What initially began as a concept for enabling and empowering the startup ecosystem community turned towards catering a market that was extremely luxury driven and led towards changing the work culture of not just startup community but also corporates and large enterprise.
The Shift in Work Culture?
There has been a major shift in work culture after the startup boom which has taken over the world most recently. The bubble seems to have burst but it also left some major impact on the industry changing the way we perceive work. At least the startup and SME ecosystem and some industry specific corporations represent the new modern and unconventional approach towards work.
And co-working spaces represent this more vibrant and innovative way to tackle business in comparison the straight jacketed Corporates.
Corporates Movement into Co-working?
With the work cultures progressing towards a more open set-up the corporates have developed intra-company establishments where more innovative and research based projects are taken up as R&D has become a major aspect of our industry set-up lately and this is one of the reason that the work culture has been showing relaxation not just in aspects related to time but also related to value chain that is built on grounds of innovation and creativity.
So, as a whole lot is changing in the industrial set-up. This change is occurring from top of the chain to bottom which includes the manufacturing market to technology side and also the customer side, where the user experience has become of utmost importance and that is the reason we see the organizations working on more innovative and creative ideas through research and development. It is not just the governments who are working on it but the privatization of technology and other domains across industry has given quite a lot of focus on aspects such as deep study in order to bring to surface the most effective methodologies and that is the one reason Corporations also felt the need for change.
Also, one of the reason co-working spaces have been able to get onboard big corporations is the prospective collaboration. The innovative ideas and research analogy works in sync when we discuss in terms of finding the right kind of funding and the right kind of partners and therefore, some of the factors why Corporations are shifting to co-working spaces are:
There is this wave of large corporations enabling new and innovative startups to build their business in collaboration which makes it easier for the startups to build through R&D and the Corporations to connect with the tech. startups who are looking to get noticed. So, organizations such as IBM, Verizon, and Microsoft which can be most easily considered as the industry Tech. Giants.
These Tech. giants have been building domain specific Accelerator, such as Barclays, the multinational bank launched a fintech based accelerator onboarding startups specific to their domain. This again enables corporations and startups build collaborative alliances.
Corporations such as IBM and Microsoft have been interested in collaborating with co-working spaces such as WeWork for their employees so that they could test more involved partnerships especially to explore in concern to research and development.
Alley powered by Verizon is an example of a collaboration which is more than a simple revenue sharing real estate deal, where the corporation hopes to benefit from a different kind of networking.
They tell, “To us, the real value is what we get by bringing entrepreneurs into the building and having them meet our folks,” said John Vazquez, senior vice president and head of global real estate at Verizon. “We realize that things will be invented outside of Verizon and we want to be a part of that.”
Some recent surveys which were done to track and covers leaders of the departments of corporate real state departments for major corporations, were found to expect the use and demand ratio to be for a more flexible office spaces which will continue to increase over the next few years.