Deciphering the Differences Between Coworking and Managed Office Spaces in India

For the longest period of time, people in India had no choice but to operate in immutable settings with limited exposure to engagement and flexibility. While traditional workspaces had a different aura of professionalism, it is hard to deny that the inability to choose the design, layout, and interior of offices has affected businesses in certain ways. However, with the rise of coworking and managed office spaces in India, the look, experience, and comfort of offices have transformed substantially. Since the trend has shifted from traditional work settings, coworking and managed workplace solutions have gained widespread recognition in India. 

According to a recent report by Colliers, the flex space market in India remains the fastest-growing in the Asia-Pacific (APAC) region. Projections indicate that by 2026, India will surpass 80 million square feet, making up 9-10% of the total Grade A office stock of the country. The burgeoning dominance of these advanced workplace solutions prompts a crucial question: Which one of these stands out as the preferred choice for business enterprises, is it coworking, or is it managed offices?

Let’s Comapre Coworking Space Vs Managed Office Space

About Coworking Space Solutions 

Coworking spaces are generally community centres and social spaces where people from different backgrounds, professions, and companies can come together and work. In recent years, coworking spaces have played a prominent role in the growth of the flex space industry in India. Following are some of the benefits of coworking spaces in today’s dynamic and growing ecosystem. 

1. Short-term Commitments 
   Short lease commitments in coworking spaces have become a hallmark of adaptability in this ongoing transforming scenario. Unlike traditional offices, coworking spaces offer occupiers the option of short-term commitments, ranging from daily to monthly agreements. This flexibility is specifically beneficial for startups, freelancers, and small businesses that may experience a fluctuation in operations and business requirements. Eventually, the convenience of short lease commitments contributes to the appeal and success of coworking spaces in meeting the diverse and evolving demands of the new-age workforce. 

2. Ideal for Freelancers and Startups 
   Coworking spaces prove to be the ideal solution for freelancers and startups seeking a dynamic and collaborative work environment. The diverse community within the coworking spaces provides freelancers with networking opportunities, fostering connections that can be valuable for their independent ventures. Additionally, the shared resources, amenities, and a supportive community create an environment that is conducive to innovation, collaboration, and cost-effectiveness.  

3. Networking Opportunities  
   Another advantage of coworking spaces is that it provides a fertile ground for networking opportunities. These spaces often host workshops, social gatherings, and networking events that facilitate organic connections, allowing people to exchange ideas and potential business opportunities. In essence, the networking opportunities in coworking spaces contribute not only to professional growth but also to the sense of enhanced collaboration. 

4. Remote Access 
   Remote Access is another key benefit of coworking spaces, offering professionals the flexibility to work from various locations seamlessly. Whether it’s about collaborating on projects, attending virtual meets, or accessing documents from the cloud, coworking spaces provide the necessary infrastructure for efficient remote working. So, the remote access capabilities of coworking spaces empower professionals to choose when and from where they want to work. 

5. Access to Amenities 
   Modern-day office amenities play a major role in hoisting the overall workplace experience for the occupiers. Coworking spaces are not just about flexible workstations because they provide access to a range of amenities, contributing to the overall work experience. The availability of amenities like comfortable breakout zones, wellness facilities, digital pantries, and others contributes to a holistic and enjoyable work environment. 

So, these are the five main elements that contributed to the success story of coworking spaces in India. Moving further, we will highlight how managed and flexible workspaces are diversifying office space offerings for MNCs and large enterprises. 

 

About Managed Office Space Solutions

The rise of managed workspaces is not a mere hoax. The world of work is evolving, and it has become imperative for new-age businesses to determine and align with the market trends. One such trend is the adoption of managed and flexible workspaces. Corporations are aiming to enhance the utilisation of flex spaces, and below are some of the factors that justify this rising demand for managed workspaces. 

1. Offices in CBDs and Premium Business Parks 
   Location plays a vital role in elevating the visibility and accessibility of enterprises. Managed offices are distinguished by their ability to provide workspaces in SEZs, CBDs, and premium business parks. This allows entrepreneurs to make informed decisions and operate in a highly professional and lively work setting that further contributes to the success of a business. Leasing offices in these large business campuses not only shrinks the operational cost but also generates opportunities for cross-collaboration and brand partnerships. 

2. Flexibility Like Never Before 
   Lately, the concept of offices in India has experienced a massive transformation. With advanced workplace solutions, both employers and employees are highly captivated by hybrid work settings over traditional work models. Companies have understood the importance of offering flexibility, empowering engagement, and creating a highly suitable environment for their employees. Concepts like Hub-and-spoke and hybrid work models offer a sense of flexibility that further boosts the demand for managed and flex spaces in India. On the other hand, a wide range of top-notch amenities help employees create an ideal balance between productivity and engagement. 

3. Tech-Driven Solutions for Better Experience  
   Well, managed workspaces are not just about prime locations and value pricing. Pure-play managed space platforms like Smartworks and others have redefined the aesthetics of workspaces. With the continuous evolution of technology, businesses can now maximize the utility of their workspaces. Trends such as IoT-integrated offices, touchless solutions, and app-driven innovations are gaining traction in Indian corporate settings, streamlining daily operations and maximising efficiency.   

4. Ideal for MNCs, Large Corporations, and MSMEs 
   Considering the transforming commercial landscape, expansion seems to be the only key to progression. If coworking spaces are ideal for freelancers and small teams, managed and flex spaces are meant and designed for established businesses that are looking forward to reducing costs, streamlining the processes, and expanding their operations. The Increase in leasing activity from Fortune 500 companies, Unicorns, and other established enterprises, is a clear testament to the high potential and uniqueness of the flex space industry. 

5. Master the Art of Customisation
   Whether you’re in the midst of building an office from scratch or leasing one, the facility will ultimately reflect the vision and values of your brand. Now, imagine having the freedom to personalise your leased offices – surprising, isn’t it? Well, the truth is that businesses now have the liberty to choose the design, layout, and interior of their offices that not only mirror their brand’s vision but also provide an engaging and productive environment for their workforce. 

 
Also Read: Pros of Managed Office Spaces 

In this dynamic scenario, understanding the nuances between coworking and managed workspaces in India is significant for individuals and businesses seeking the most fitting work environment. Coworking spaces, with their collaborative ambience and flexible arrangements, cater to the diverse needs of freelancers and startups. However, managed office spaces offer more tailored and customised solutions, providing large enterprises with the autonomy to curate their work environment.