Client Expectations Biggest Challenge For Co-Working Spaces: Garage Society
"Co-working players who are not focusing on the softer aspects of working and are just focusing on the hardware will have to reevaluate their strategy of moving forward", Country Manager of Garage Society
In an interaction with BW People, Prashant Garg, Country Manager, Garage Society India touches upon coworking spaces in India, challenges and helping the local economy.
Why are coworking spaces gaining momentum globally? How do you see India as a business marketplace?
The corporate world is moving towards agile and flexible workspaces which is a 2.0 version of working culture. co-working companies globally have taken that baton to deal with this and making sure that boring workplaces have been converted into a fun and productive zone. Resultantly, large corporates are considering to move into co-working spaces. In the last 3 years, co-working operators have grown from 500 to 20,000 which clearly shows the importance of this space.
India is one of the fastest growing co-working markets in the world. Earlier, co-working spaces were just considered a place for start-ups to come together and grow through the power of community but there has been a shift in the paradigm and large companies have realized the potential of co-working spaces and have started taking up space. Last year, India saw the maximum chunk in the leasing of co-working spaces and have given tough competition to IT/ITes companies.
How important is culture for a coworking space to grow? How do you place yourself differently from other existing Coworking spaces in India?
Apart from flexibility, co-working spaces provide its members with a refreshing way to work by nurturing the community, hosting workshops & events and above all bringing people together. Co-working players who are not focusing on the softer aspects of working and are just focusing on the hardware will have to reevaluate their strategy of moving forward.
Garage Society focuses on building a cohesive Community and a young and vibrant culture that promotes learning, innovation & collaboration between members "Work the New Way". We have various programs like Garage Academy (programming team who curates out of the box events which covers Training, fun & inspirational programs) Garage Cadets (providing interns to our clients) without missing the fact that clients want "own time" while working. Our clients have witnesses higher productivity, team bonding while moving to our centres.
What are some of the issues that have come up with co-working spaces?
Coping up with the expectations of the clients is the biggest challenge co-working faces today. There are various companies which come with a different ethos, working style and bringing them together is the task of the day.
How does co-working space affect the local economy?
Any industry which grows rapidly brings and adds a lot to the local economy. Large fundings are fueling this industry to grow immensely. It has created huge employment opportunities and it has been a home of many millennials.
Why choose coworking spaces?
In addition to benefits such as shared infrastructure, tech-savvy spaces, collaborative working environments, and reduced operations costs. A coworking space brings a distinct culture and vibe to an office space which invites young talent. Training and workshops that enable growth and collaboration opportunities between the community.