Modern-day Co-working spaces are workspaces that operate on a membership basis and are an ideal option for businesses and workers from every category. Irrespective of whether you are an individual needing a professional workspace or a multinational company looking for a whole wing within the Coworking space to accommodate 20 or 30 desks, the Co-working space can precisely address the needs of everyone. Contemporary employees can thus expect optimal time management and excellent work-life balance from Co-working spaces.
Coworking spaces offer collaboration, flexibility, and community, while traditional office spaces offer stability, privacy, and control. The choice between the two depends on the individual’s work style, goals, and values.
What is Coworking?
Coworking aka flexible workspaces are office spaces where one can share the work area with professionals from a cross-section of disciplines, businesses, and industries.Modern Workspace trendsalso show that members in Coworking spaces can significantly benefit from the collaborative environment provided by these workspaces.
What is traditional office space?
In a traditional office – owned or rented – the business has control over the entire space and can design the available space to reflect the corporate culture and brand. A traditional office offers privacy and private meetings can be scheduled with greater ease. You can also enjoy better control of how areas can be designated to allow privacy. Yet when we compare shared vs private offices, the shared office has several advantages that are absent in a private office. For instance, leasing a private office offers less flexibility since long-term commitment is generally mandatory. Additionally, businesses will also need to equip and furnish the leased space involving significant upfront expenditure.
Traditional offices will also need dedicated personnel for managing the office and lose the opportunity to network and collaborate.
What are the pros and cons of Coworking?
The Pros
Coworking offers flexible workspaces where the work area is shared with a variety of industries, companies, and professionals. It offers a collaborative environment where enterprises and individuals can build their pursuits to achieve their goals. Individuals and businesses can choose precisely the space needed for their work with the ability to expand or contract according to their needs. Flexibility is the biggest benefit that Coworking space offers. The membership fee covers a host of amenities like internet, phone lines, reception, postal service, printouts, photocopies, etc. No long-term lease is involved. Yet, larger businesses can also long-term lease providing cost-effectiveness and stability. In other words, Coworking offers tailor-made solutions for space needs.
Coworking space is offered on a turn-key basis which means that members can move into a full-fledged office in no time. The ability to collaborate and network with similar or diverse businesses that can utilize the people and skills of each other for a common benefit is yet another significant benefit of Coworking spaces.
The Cons
In Coworking spaces, individuals and businesses cannot enjoy exclusivity and therefore there is no room for branding. But, modern workplace trends also show that larger businesses can occupy the whole premises offered by Coworking spaces and enjoy the benefits of a traditional private office with minimal limitations.
For freelancers, small businesses, and individuals, Coworking is an expensive option compared to working from home.
What are the pros and cons of traditional office space?
When a traditional office is bought or leased, the business enjoys exclusivity and the ability to design the available space according to the specific needs of the buyer/lessee.
Pros
With a traditional office, the business can introduce its corporate culture and also enjoy the benefits of branding. Since the traditional office is exclusive to the business that buys or leases it plenty of privacy will be available.
Cons
Buying or leasing traditional offices will involve long-term commitment and upfront expenses in furnishing and building out the premises. Apart from this, the business will also have the responsibility of managing the office which involves staffing expenditure.
The collaboration and networking opportunities available in Coworking offices will be absent in traditional offices.
You are invited
Coworking spaces offer an ideal solution for individuals, small businesses, and large corporates seeking flexible workspaces. The host of shared services like computer services, receptionist, and pantry/coffee corners are also accessible to all members. Coworking office space is growing in popularity even in the post-pandemic world thanks to a slew of benefits that it brings to employees and business owners alike. For a hands on experience of what you can expect, we are offering a one-day pass to our start-up offices in Gurgaon, Take a close look at our single desks, shared offices, business suites and an array of amenities.
