On 25 March 2020, India went into its first lockdown because of COVID-19. Corporate offices were pushed into taking tentative steps towards remote working. The lockdown left employees with no option but to turn their dining tables and guest bedrooms into makeshift office spaces.
It’s been over a year since then and HR has realized that having a big, fancy office space in Noida isn’t really a must-have. Remote working is a win-win situation for employers and employees. But, working from home isn’t the solution. Co-working spaces are.
Statistics show that India leased about 1.5 million square feet of co-working spaces in 2017. Pushed by COVID in 2020, this grew to about 10 million square feet!
Getting Back To Offices
As the number of people vaccinated rises, people are getting more comfortable with leaving their homes. But a crowded office space is still taboo. Having experienced the advantages of remote working, we can’t go back to the past.
The future for corporates is most likely going to be a hybrid one with traditional office spaces as well as flexible co working spaces. It comes as no surprise to note that there’s a growing number of companies signing leases on co working spaces in Noida.
What’s Pushing The Demand For Co-working Office Space In Noida?
As companies prepare themselves for the post COVID era, their focus is split between maintaining the importance of having dedicated space to work from and promoting safe interactions and social distancing.
While remote working has its advantages, there are disadvantages to working from home. There are countless distractions. The work-life balance is skewed. Collaboration is tricky. Having a coworking office in Noida overcomes these challenges and simultaneously de-densifies the office.
There are a few other reasons too.
The Money Factor
The economy is expected to bounce back and recover post COVID but the last year and a half has been undoubtedly tough. According to a report, 12,930 companies in India shut down operations in FY 20-21.
Almost all of those who have survived are on tight budgets. Now, the cost of finding an independent office for rent in Noida is many times more than the cost of leasing co working space in the same area.
In some cities, the cost of a separate office can be as much as 70% higher than hiring a co-working seat. It’s not just rent. Day to day operational overheads like electricity, running a kitchenette, etc. are also reduced.
The shared office advantage in covid-19 is relevant to employers and employees. Today’s employers are aware that employees may hesitate about commuting across town to reach the office. It’s a valid safety concern and not just an excuse to stay out of the office.
Leasing desks at co working space near employee residences helps employers address these concerns and empathize with employees while structuring the office experience.
One of the benefits of coworking space during covid19 to become visible is that companies are no longer limited to hiring people who live in the vicinity of the office. Without worrying about setting up satellite offices, companies can now hire candidates at the other end of the city as well as those in another part of the country completely. It’s all about putting the best team together.
Coworking in COVID-19 has been undoubtedly aided by technology. Team management platforms like Slack have helped managers keep track of projects while Zoom calls have played an important part in client acquisition as well as internal communications.
What it has proved is that people don’t necessarily have to sit across each other to communicate and collaborate. When you lease space at a co working office, you also get access to meeting rooms with AV tools – today, that’s all that’s required to stay connected with the rest of the team and your client base.
COVID-19 had a severe impact on office space leasing in NCR. Today, Noida is leading the recovery of this sector. The Noida office market accounted for 64% of net absorption in the 4th quarter of 2020. An increase in co working leases has been a major contributor. As coworking importance continues to be realized by corporates, this trend will only grow further.
If you’re considering leasing a coworking space in Noida, connect with The Office Pass (TOP) at 89998 28282. With easy Metro connectivity and facilities ranging from well-equipped conference rooms and High speed WiFi to convenient membership plans, your company too can move safely into the post COVID work era.