The importance of coworking for newage entrepreneurs
HOLISTIC This is a new trend among millennials
Co-working has become a popular choice for millennials, SMBS, MNCS, freelancers, consultants and contractors. A style of work that involves a shared workspace and an upbeat, independent atmosphere is how people have defined co-working spaces in the past. Not only has the segment seen a boom along the years but is also set for an aggressive transformation as it builds its strategy to attract today’s millennial generation. From solopreneurs to start-ups, to multinationals, co-working has been opted by almost every sector that comes with its own demands which can be fulfilled only with tailored offerings.
Opting for co-working spaces is any day 15 – 20 per cent cheaper than leasing an office on rent. One can easily cut down on infra- structural and technological expenses which saves a big moolah for start-ups and small and medium businesses in a long run. Apart from good quality infrastructure, hyper connectivity solutions, cloud credits and VC rooms, businesses can also avail other benefits like logistic, maintenance and concierge services which help them reduce administrative manpower, cost and downtime.
Co-working campuses have emerged as a preferred choice of MNCS for setting up their satellite and regional offices. Given the specific requirement of Corporates, many co-working players are today offering Build-tosuit spaces which are customized as per the need of MNCS and their millennial employees. As a result, the corporate giants save a lot of money while operating in a good infrastructure that matches up to their global standards. Many MNCS are also eyeing these spaces to host their large events as these spaces have an amalgamation of new age workforce. Modern co-working spaces have taken it up on themselves to nurture the emerging entrepreneurs who are known to be suffering from work stress. These spaces offer amenities like fancy cafeteria, brewery, gaming courts, gyms, frustration zones, meditation zones, spas etc. Co-working space providers are also taking care of holistic wellness of the employees and have introduced an array of services like wellness sessions, personal counselling sessions and innovative sleeping pods with a bed chamber and TV where one can de-stress beside the resident pets of these campuses. Co-working spaces are helping women entrepreneurs work freely without having to worry about their kids. Facilities like crèche, pet care and women oriented counselling sessions make women work more efficiently. Not only has this been helpful for women entrepreneurs but also helps single fathers to maintain a work life balance. The assurance of strong network connectivity and safe environment in office at all hours of the day is another leading factor that attracts the female talent from small cities and makes them feel secure at work as these spaces are present at prime locations.
Being start-up i ncubators, co-working spaces attract a number of investors and industry experts and accelerators who add potential to the businesses that operate in the campuses. They help start-ups to keep up with modern disruptions through workshops and hackathons.
Many industry experts and mentors come to these spaces to provide financial and legal guidance to entrepreneurs.
This helps these entrepreneurs to collaborate on a global level, while seeking new business opportunities. Business is the most profitable exploitation of the invested resources, including the human capital. The higher the resource utilization, the higher will be company’s profitability, and no doubt, data catalyses resource optimization. In the business world, even the least significant event gets converted into data because it offers identity as well as value. From Marketing to Finance and Operations to HR, data has become the lifeblood of every disruptive organisation in the digital world. As companies want to earn maximum returns from their resources, People Analytics is emerging as one of the key decisive domains of HR in the digital age.
AUGMENTED STRENGTH OF HR
Sarah Dowzell, COO and Co-founder of Natural HR, says, “Whether it’s sales, productivity, customer service or hiring, HR needs to make that connection to be able to really deliver value. The ability to use real data allows businesses to predict where their best hires come from and help them to target competitors or use specific recruitment channels which give the best return on investment.”
Though the data has always