7 Reasons Millennials Love Coworking Spaces
Introduction-
Coworking spaces eliminate the need for companies to worry about security and meeting expenses. All these amenities are provided by coworking spaces in Bhopal and more, such as a cafeteria and meeting rooms. I Sprout a top coworking office space in Hyderabad that offers employees and clients many benefits such as entertainment, networking, and a great experience. These are just a few factors that make it better than traditional office spaces.
The rise of millennials within the professional world is one of the main drivers of this trend. They are becoming entrepreneurs and building and joining startup companies, shaping the future of work. Why are coworking and sharing office spaces so attractive to millennials?
1st– About the Millennial’s Environment –
Millennials are looking for a more creative work environment. They want to walk around, network and have the freedom to think outside of the box. Coworking spaces help employees unleash their inner innovators and offer startups a modern environment and easy access to resources that can reduce stress.
Millenial startups, particularly app-based startups, are always on the lookout for ways to save money to spend on their products. Coworking spaces are much more cost-effective than owning an office, and all the necessary costs are covered. Coworking spaces are paid a one-time fee that allows companies to access all facilities for the specified period.
One thing is sure. Millennials don’t like the idea of closed offices and cubicles. For millennials, a managed workspace is the best option. This is a rented/leased area that gives you a lot more control. The office provider usually offers a fixed contract for businesses, typically for at least three years. The team can plan and prepare space according to their preferences and themes.
A managed office can offer a lot of flexibility and other unique amenities that can be very lucrative for the younger generation. These are just a few of the many benefits offered by managed offices:
2nd– Urban-centric locations-
Nielsen surveys show that 62% of millennials prefer living in urban centres, and this is because they have easy access to resources such as grocery stores and restaurants. Urban centres are a great place to find shared office space, which is a perfect fit for millennials. The location is centrally located so that millennials can walk to work or explore their hometown.
3rd– Lower costs and Startup support-
Shared office space is almost always less expensive than full-office spaces. Leasing a room can be more costly than buying a large office, especially in urban centres. Shared spaces offer a significant advantage, with membership fees as low as $100 per month.
Although the data is mixed, most millennials love the idea and pursue that entrepreneurial dream. With the rapid turnover of tech startups and easy access to online resources, it is possible to start a business from scratch quickly and with smaller teams.
The increased demand for startup space has been a blessing for the industry of shared office spaces. Shared offices are great for entrepreneurs with limited budgets and who need to network with other business owners.
4th– You can make smaller commitments-
The idea of not having to commit is also appealing to millennials. While leases can last several years, owning a building can be a long-term investment. You can reduce the cost of shared office space to a monthly, daily or hourly rate if your needs change frequently.
5th– Amenities and Sustainability-
CBRE reports that 70% of millennials would trade-off for a better work environment.
Due to their increasing workload, millennials work longer hours and are less likely to go out of the office for errands.
They place amenities above all else. You can find amenities like coffee 24 hours a day, informal working hours, team outings and comfortable seating arrangements such as bean bags or casual arrangements. Attract Gen Z and Millennials.
Coworking spaces in lower parel should be open-planned and have flexible activity-based settings. They are not comfortable being at a desk or in a cubicle.
The environment and climate change are more important to the younger generation, and they are keen to support nature in any way they can. Green buildings are becoming more popular among the currently managed workspaces, and it attracts millennials. A Deloitte 2016 Millennial Survey found that millennials prefer businesses to be more focused on people, products, purpose, and profit. Recycled products, fewer resources such as water and electricity, green design, etc. These are just a few ways you can attract millennial attention.
6th– There are fewer responsibilities-
Shared space is an excellent option for millennial entrepreneurs. They also have less to worry about. The building’s owners take care of things like cleaning and maintenance, which is why millennials prefer renting to owning. Most of the tedious tasks and responsibilities are taken care of by the building’s owners.
7th– Share your community-
People can gather in open spaces at managed offices to discuss and share ideas. This is an excellent place for people to meet and share their knowledge from different areas. This promotes collaboration at work and improves output between departments and teams. People who gather together have fun, learn from one another and form business relationships. This environment is loved by millennials, who are more inclined to do their work and share their philosophy.
Conclusion-
The millennial generation has led India’s workforce to evolve and has influenced the design of its workspaces. Employees want a more holistic workplace, and they no longer need to be confined by their desks. Today’s organizations are determined to create the right environment for their employees to thrive. Harvard Business Review states that managed offices provide a well-designed environment for employees, which is why millennials want to join an organization.
Today, networking is crucial to the success and growth of any company. Millenial startups must learn more about their market. The way things work is changing rapidly. People work better together, and more partnerships are formed. This allows companies to innovate and collaborate with other businesses. Coworking spaces were created to give companies a chance to connect and learn about the brands they work with. This space also allows freelancers to connect with companies that can benefit them.
