The pandemic, like a thriller, has kept the world sitting on the edge of its seats. Businesses and organizations have suffered major blows due to Covid 19. There has been a tectonic shift in flexible work options: Cloud-based assignments, Alternative schedules, work-from-home jobs and the Hybrid work models. You name it. The virus has taught us well.
While the dust is just beginning to settle down, organizations are beginning to open up their premises keeping a central focus on the health and safety of their employees.
According to Mc Kinsey, more than 20 per cent of the workforce could work remotely three to five days a week as effectively as they could if working from an office. If we go by this data, three to four times more as many people would work from than before the pandemic. This would profoundly impact urban economies and consumer spending.
What Office Space as a Service or “Workspace as a Service” is?
In the changing times, rose the need to have an agile workspace solution, that can sustain unprecedented times like that of the pandemic and so on.
Under the “Workspace as a service” (WaaS) model, a third-party service provider offers workspace solutions like Coworking Spaces, Shared Workspaces, Managed Offices etc that cater to the needs of almost everybody. With Businesses trying to cope with the demands of remote work, solutions like WaaS have become the latest buzzword and for all the right reasons.
For cutting-edge organisations, the mantra is to ride this change and adapt to the latest trends in the workspace industry. WAAS has proven to be one of the most effective options post the pandemic and are beginning to change the rules of how workplaces function.
While Coworking Spaces cater to the small and growing teams of 1 to 50 members, shared workspace solutions cater to larger teams of more than 100 members.
Why Service-Based Workspaces are the Talk of the Town
The sharing economy is a key component of the millennial generation, which allows them to work in shared spaces without the headaches of owning a workplace or maintaining a rental.
Also, micro-managing a workplace can be tiring, especially when you know you can use the same resources to focus on more productive business tasks. With the increasing demand for real estate spaces for working, businesses are adapting to innovative ways to better utilize existing spaces. WAAS provide all the facilities to ease the burden of running a workplace. Also, a Digital Workplace allows employees to be active agents in the digital transformation process, making them more productive, agile, empowered and actively engaged.
Here are a few things that set “Office Spaces as a Service” apart from conventional workplaces
Features of Office Space as a Service
Cost-effectiveness
Cost-effective business operations are important to most companies. On average, organizations spend 30% on additional operational-efficiency factors, administration tasks and human resource activities to manage workspaces. Interestingly, these tasks can be outsourced. No wonder, the requirements to have a dedicated workplace for a company has changed vastly. The company doesn’t need to have an office at all times; however, it can be used as an option when the need arises. In these workspaces, utilities like water, furniture, electricity, gas, coffee and tea, kitchen supplies, printing, and mail services and Wi-Fi are included and come at a fraction of the cost.
Reduced back-end responsibility:
In a serviced office space, one need not have to worry about facility management concerns like stock in the cafe or stationery requirements. Issues that often disrupt work like power cuts, internet connectivity issues etc. are taken care of by the service provider. All you have to do is plug in, log in and hustle.
The key 3C’s:
Focussing on elements of Culture, Collaboration and Customization while selecting a shared space can open up a plethora of opportunities for you. A services office provides you everything that a modern office needs a good and uninterrupted internet connection, ergonomic tables and chairs, storage cabinets, lounge areas and conference rooms, 24/7 CCTV surveillance, etc. A coworking workspace gives you a great platform for individual subscribers especially giving them collaborative opportunities with other domain experts and industry stalwarts. It also offers work hour flexibility, an opportunity to network with people they never thought they’ll break the ice with, embracing the gen-next culture and customization according to your needs. The evolving office landscape has a lot to offer.
Your Guide all the way
Have you nursed a dream to have your workspace but the Pandemic and finances have dampened your spirits? You can still make your brand visible by availing services of enterprises specializing in office space services to make your dream office a reality. Office Space Service providers are intensely involved in every step of the process, from scouting the real estate to interior design to tech specifications and managing the leasing agreements. They also work on offering economically viable and flexible terms and conditions to suit the needs of your employees. The contracts and agreements can be modified as and when required. In fact, a lot of entrepreneurs have begun to avail themselves of services like Registration, IT and HR, Taxation and Legal Services to ease their workload.
- A Customized Space
Customizing is a great option for companies who do not want to rent desks or cubicles from a coworking space. Entrepreneurs or start-up heads from a certain industry often want a private office space curated for them exclusively to cater to all their needs and specifications. The service will give them the benefits of cost-efficiency with no large upfront investment. At the end of the deal, they have a ready-made setup ready to move in. Even if they don’t own the space, you will be able to make your brand visible, look professional and relevant and save on sky-high rents.
Whether your enterprise needs a unique suite or an entire floor to function, coworking space experts and professionals specializing in Office Space services breathe life into the blueprint of your plans. They don’t simply focus on architectural and design elements of the spaces, but also work on providing wellness amenities and create networking and collaborating opportunities to increase productivity and boost creativity.
- Creating Multipurpose Spaces
Organizations offering office space services are constantly looking to build bridges, find creative and sustainable solutions to SME’s, freelancers, start-up enthusiasts, budding entrepreneurs and organizations.
Ashlesha Samant, an Influencer Marketing professional shares, “I neither believe in 4 day-work weeks nor I want to slog on weekends. Give me some flexibility in terms of how I want to lock in the number of hours and watch my creativity flow. That is how I work as an independent professional and expect the same from my team of freelancers. We are a team of 6 and work in a co-working space. It feels like we are in some sitcom sometimes but yes… we mean business.”
Flexibility and freedom:
Serviced office spaces will give you flexibility in exercising your options in terms of size and tenure. You don’t have to worry even if your work needs you to pull an all-nighter. Serviced spaces are available 24*7 and write something about amenities.
The risks involved in serviced office spaces are far lesser as compared to permanent own office set-ups. It is easier to ramp up or ramp down the team size as per project needs. Organizations that work with contracted employees can plan and pay for desks depending on the project requirement. Also, the conditions in the agreements can be modified accordingly.
The Y and Z of our times
India’s millennial generation is bigger than China’s or the US. Experts predict it will boost the nation’s labour force to the world’s largest by 2027. (Source: Bloomberg News analysis of United Nations population-projection data). The gen Y (Millennials born 1981 to 1996) and Generation Z (Born in 1997 or after) want a diverse and inclusive workplace. Gen Z especially needs more flexibility in terms of working hours. They are far more entrepreneurial in nature and want jobs that help them keep learning and growing. A lot of Gen Z has started working fairly young and a co-working space will help them realize their dreams without having to burn a hole in their pockets.
Interestingly, companies were already looking at remote working options over the last few years as feasible workspace solutions. Just their actions got an impetus owing to the current crisis. This will soon be a long-term option or even a permanent solution for organizations. Blessings in disguise… indeed.
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Author Bio:
Co-Founder, COO
With 10 years of experience in operations and training, Parth is a go-to person for his team and even a multitude of growing start-ups. His knack lies at spotting and supporting start-ups, helping them streamline their processes and even take their ventures to the next level. After successfully establishing two start-ups and exploring the start-up landscape up-close Parth has learnt the nitty-gritty of the industry, which he now shares with fellow entrepreneurs.
