| | MAY 20218VANTAGE POINT T he pandemic has dramatically upended the way we work, creating disruption across sectors world over. Traditional office spaces have lost their essence as the majority of the workforce continues to work from home. However, now that companies are resuming operations and trying to get back to pre-COVID times, they are exploring the right environment for their employees to foster growth in addition to prioritising workspace utilisation. Hence, the concept of multiple smaller offices spread across different locations is gaining attention over a consolidated office located centrally. The introduction and acceptance of co-working spaces have changed the notion about a typical workspace as de-densification of current offices remains priority. Moreover, co-working spaces have pivoted and adapted to the new normal in smart and creative ways by responding to the needs of evolving business landscape - safe and hygienic environment, affordable office spaces, ease of commuting to work and dynamic workplace strategies.Co-working Space is a Global PhenomenaAs organisations plan to develop, grow and innovate as part of their revival strategy, they are opting for co-working solu-tions that are as flexible as they are. There is an increasing de-mand for low-risk and scalable workspace solutions as well as open-style office layouts with adequate spacing and touch-free fixtures. Further, the demand for workspace options that provide customised services, can evolve and adapt to their occupants, is driving the rise of both flexible as well as co-working office space.It is no secret that co-working spaces are growing at a rapid pace, meeting the demands of the corporate world and changing the way we think about going to the office. Further, as the start-up economy rises, there is a growing need for office spaces that offer higher standards of amenities, provide an opportunity for networking with like-minded people and ensure flexibility. This has made shared spaces a natural and logical choice for start-ups and freelancers. Even large corporations are increasingly moving towards co-working spaces because of the agility and flexibility it offers. Moreover, amidst the pandemic and the following economic slowdown, co-working spaces seem to be a suitable choice for businesses as they are economical, ensure social distancingthrough appropriately distanced workstations and can provide the right work environment to relocated team members.Coworking Workspaces: The New Normal for Companies?Due to the emergence of innovative, customised and easily adaptive workspace solutions, the workspace requirements of companies are drastically changing. This is because com-panies want an office space that goes in synchronisation with their office culture, provides all the desired facilities as well as reduces their capital expenditure. CO-WORKING: REIMAGINING OFFICE SPACES DURING ECONOMIC SLOWDOWNBy Sanjay Chatrath, Managing Partner, Incuspaze Sanjay Chatrath,Managing Partner
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