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Why are millennials flocking at coworking spaces

November 24, 2017

Photo Credit: @anniespratt

 

Everyone might have observed the mushrooming of “co-working” office spaces around their cities of late. The “co-working” model is rising in popularity year on year since the past decade. Back in 2007, the panache was almost unheard of, with only 14 documented co-working spaces in the United States. Present day numbers portray more than 11,100, and projected to see more than 26,000 spaces hosting 3.8 million people by 2020.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Millennials and Co-working:

 

The Echo Boomers or the Millennials who are famed to have an amplified use and expertise in communication, media & digital technologies, are ruling the corporate scene these days. These are the 80’s babies and our present day budding CEOs with divergent thinking. The model of shared working spaces have principally gained attractiveness with the millennials over the past decade. They have been able to relate to benefits of Co-working which embroils opportunities to interact with other like-minded people with similar spirit & urge in life.

When we go into the depth of why Millennials adore the notion of shared offices, we first need to cognize the structure of a Co-working hub and how they work.

Explaining a Co-working model

 

A shared work space is a non figurative definition of a common hub where different individuals can come and do their daily office work at a communal cost in spite of the fact that they do not belong to the same business entity. They can also choose to avail premium and more private spaces like discussion rooms at premium charges. The word “share” truly defines the essence of such co working places. Individuals can share ideas, views, plans and a lot more with the stars of similar domains, yet with the flexibility of not getting wedged to any commitments.

 

 

Whys and wherefores for rise of Co-working spaces

 

The merits that have raced the rise of the shared offices are many; be it the lower costs of setting up an office considering current day high rentals and property costs to set up individual office spaces; to lesser responsibilities pertaining to office maintenance and repairs which are taken care by the Co-working Company in this case. This eliminates a lot of unproductive stress for the entrepreneur with no duress of commitment for longer times as there are short term options offered under this structure. Moreover this gives the individual or their small team networking opportunities to meet a bunch of equally talented novels. This might result in exchange of brilliant intellects as well as favorable business interests. These hubs are mostly centered near the industrial cores to attract maximum potential occupants, making them a seamless fit for the Millennials who prefer staying near such metropolitan hearts.

 

In India a Kolkata based shared office Space Company Cokarya is hosting events, team meeting to live by the theme and essence of co-working space and promoting new and young entrepreneurs. It is also providing bespoke solution to small to large businesses on their state of the art modern technology infrastructure support.

 

In this way they can enjoy a short walk to work and other places of interests along with all modern day facilities. Such a dynamic working concept also imparts command of easy dismantling of 9 to 5 mentalities to these youths, redefining social norms and rigid hierarchical   structures. They are immensely aided by the flexibility of being their own boss.

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