As India Director of MQDC India (Magnolia Quality Development Corporation), Chulamas Jitpatima (Amy) has led the Company’s India entry, overseeing its strategic, operational and marketing initiatives. Backed by more than 18 years’ experience with large Thai conglomerates and multinationals, Amy has imparted a dynamic approach in launching the company in India. Deploying the same dynamism in setting up MQDC’s brand – Whizdom Club – in India, Amy is crafting the Club’s distinctive ethos and character that can act as a catalyst in attracting young professionals and entrepreneurs.
As companies prepare to return to physical offices, co-working spaces are emerging as preferred partners once again. Earlier considered as ideal for start-ups and freelancers, today even established enterprises are choosing co-working spaces as they provide the flexibility, accessibility, and affordability that is required to cope up with the after effects of the impact that COVID-19 has had on businesses.
Like every other industry, the co-working sector also took a plunge in the beginning of the pandemic when offices were forced to shut down. However, with each unlock phase, the sector has experienced growth and is poised to grow even further as it provides the perfect solution for companies looking for options to reduce capital expenditure without compromising on employee wellbeing and a team culture.
There is no doubt that the plug and play model is the way forward for future ready organisations and here’s why:
- Cost effectiveness and flexibility
Even after vaccinating employees, companies are opting for a hybrid work model. As a consequence, there is a reduced need for space and companies are trying to cut down on expenses; this is where co-working spaces fit the bill. Co-working players offer organisations many options as per their needs, including flexible leasing and payment. This gives companies the option of expanding or de-densifying workforce without any overhead costs. Hence, co-working spaces are perfect for companies looking for cost effective alternatives to permanent workplaces.
- Great place to network and collaborate
Co-working spaces are lively and a great place to build strong networks and long term connections. They allow people to work at their own pace and can often be seen swarming with energy and people from various professional and personal backgrounds. This creates a great opportunity for businesses to collaborate and drive strong business outputs. Now that big tech companies and established businesses are also signing up with co-working spaces, this trend is expected to grow and become even more significant for businesses while choosing the right workspace for them. Furthermore, coworking spaces are now designed with holistic amenities, open areas and indoor greenery making them a one stop place for both work and play, eliminating the need to commute to various places through the day.
- Customised and innovative workplaces
The plug and play model is reinventing itself according to the changing needs of businesses. Co-working players provide a customised experience, matching the needs of each business and/or individual. With the onset of the pandemic, there is a greater demand to create virtually connected office networks, adoption of advanced technology, customised design and an increased focus on employee wellbeing. Further, as bigger companies start to collaborate with co-working spaces, they have more specific needs to run operations without any difficulties and therefore flexible workplace providers are evolving rapidly to provide support with such demands. So for co-working places to flourish, agility and nimbleness along with agility seem to be the only way forward.
- Health and Safety Compliance
Co-working spaces follow a long list of compliances to ensure a comfortable and hassle free experience for all employees. In addition to this, every co-working space now abides strictly with a long list of COVID-19 protocols. As per the norms, there is frequent sanitation and cleaning drives across offices to provide highest level of cleanliness. Workspaces have also re-worked on their plans to create socially distanced and safe workspaces for all employees.
- A shift towards Tier 2 and Tier 3 cities
The pandemic created anxiety amongst young working professionals and compelled them to move back to their hometowns, majorly to Tier II and III cities. As people continued to work from homes, they faced many challenges in terms of technology, internet connectivity, and having a proper work station among others. Despite this, there is a hesitancy in people to leave their home towns and commute to crowded cities for work.
Co-working spaces have recognized the challenges and have set up shop in remote areas. This has allowed companies and even individuals to partner with these workspaces. It is a great solution as this arrangement allows employees to remain closer to their homes without compromising on having a top-notch and productive work environment