Multi-Department Evaluation of Co-Working Office Space
After working for more than 2 years from a co-working space (CWS), I always tend to compare the traditional own office set up vis a vis co-working space on numerous parameters. My dual perspective of HR professional as well as that of an Employee helps in fetching the tiniest of observations & first-hand experience of working out of these two kind of set up.
Numbers first, as per report by JLL the Indian flexible space market witnessed a supply boom which resulted in a significant rise in the total stock of flexible spaces, which nearly tripled from 9.9 million square ft. in 2017 to 29.5 million sq. ft. in 2020 over a period of close to 3 years. Co-Working players are well poised for growth post Covid where office space utilization has become an important line item requiring detailed deliberation.
Let’s see, how co-working space fits/unfits when looked from the perspective of below Corporate Support functions:
1. General Administration – Function which will be undergo utmost impact when an organization decides to go for a co-working model. Security, Sanitization of office area, Utility management, Pantry replishment, Visitor management, Breakout area, Premise safety, Access control, Vehicle Parking, Preventive Maintenance, Ease of Scale, Concierge are major areas which will be completely handled by the co-working space team and would require a team of 1-2 members per office to co-ordinate with the co-working space team.
Watch Out –
a. Notion of having own secure premise and governance of the office universe will be challenged while opting for co-working model.
b. With dependence on CWS team for resolution of employee queries, it will be a key area that will determine the effectiveness of moving into CWS set up
2.Public Relation & Communication – Team has to come with some novel ideas to increase their branding and corporate identity. Generally, CWS provides organization’s logo at the entrance or office gates however you can always discuss with the CWS team and spark better ways to ensure your corporate identity stands out in the midst of multiple organizations ranging from a early stage start up to an established firm.
3. Information Technology (IT) – In addition to the services provided with your agreement which includes High Speed Wi-Fi Network, Video Conferencing, Projectors, Printer access etc., your Internal IT Infrastructure team can very well install their own Routers, Printers, and Mini meeting rooms with projector, Landline etc to compliment as well as bring more security layer. It’s always advisable to weigh in existing services provided or may be test for couple of months before opting for add-ons.
4.Finance – With costing done on per seat basis, CWS provides enough flexibility to increase or decrease the number of seats as per your organization’s growth plan as well as avoiding expenses on traditional office setup which forms a big chunk of your operating cost. With estimated saving of 5-15% per seat in co-working space as compared to traditional office setup, CWS presents a compelling preposition. Hub and Spoke model offered by these CWS is beneficial for organizations looking for multiple offices in same city with one central location. Watch out for Finance function is the security of their confidential files and documents which can be very well managed in their own storage space or leased some additional storage from CWS.
5. Human Resource – CWS ticks all the boxes for essential parameters while evaluating office space like aesthetically designed workspace, ergonomically designed furniture, office supplies, optimum utilization of natural light, soothing background music, location of the office and flexibility in designing your own custom office.
Apart from the assigned seat, options to work from other areas like telephone booth, couch on terrace, common area space, lounge area brings novelty to the office design. Varieties of events, festival celebrations, movie and match screening take some load off from your employee engagement calendar.
Another advantage is to be surrounded by a community and network to collaborate and gain from their insights. Plug & Play option provides a much needed flexibility in scaling up and down with a quick turnaround time.
Conclusion – Be vigilant of the additional costs (varies as per the CWS provider and your agreed T&C) which includes Parking fees, Meeting room usage, handyman charges, customization to the space (Coffee is definitely complimentary J ). Covid has provided a unique opportunity to the organizations in bringing further synergies in a way they operate and Office Setup is one such area that apart from Start-up is now being explored and used by established organizations as Interim office, Regional Office, Satellite office.
PS – Views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee or other group or individuals.
#wework #awfis #cowrks #coworking #innov8
References –
http://ficci.in/events/24295/ISP/Co-working_Reshaping-Indian-Workplaces.pdf