Hyderabad is witnessing tremendous in the co-working segment over the last 2 years. Almost more the 10 companies are providing services in co-working spaces in Hyderabad. The flexibility in absorption and feasibility of working is making co-working spots a perfect destination for employers and companies to adopt for. So, let us look at the concept
What is co-working?
It consists of a shared working space with all the amenities like wifi, a desk, drinks, and many more that are found in a company. In order to utilize the working desk, an employer simply pays a daily or weekly fee.
This has been trending since the pandemic broke out in 2020. When the first lockdown was lifted, most of the IT companies still continued the work-from-home shift for their employees.
So, employees were left out with no option but to choose the co-working option to get working in a company and feel as if they were working in a company.
There are numerous disadvantages to working in a home like children distributing the meetings, overtime work without bothering the time, or unproductive work.
So, to get the working feeling, Co-working spaces are now a practical option for employers.
A company will provide all the necessary amenities like WIFI, a table, a chair, electricity supply, etc… It’s more or less like an office.
You need to pay on a daily basis or monthly depending on your requirements and the options that are chosen.
How it will benefit the companies
Well, choosing Co-working as an option –
Infrastructure does not need to be spent by companies. It costs a lot of money for a company to build its own office.
For a small company, it is a perfect spot as they have little capital on their hand. As a result, they do not have to worry about expansion.
For individual employers
Employers find flexibility while working
Can make collaborations with the co-employers or freelancers in and around.
Feeling as working in a company
Can find a Co-working place near their house. So, daily commutation becomes easier and can escape from poor traffic.
Better quality of food, and amenities.
How it can change the inventory absorption
As per Statista, the market size of co-working to set to reach 24 billion by 2030, and currently it is at 6.9 billion.
Co-working space in Hyderabad growth
Hyderabad is set to get more reach compared to other metropolitan cities as Hyderabad has the largest inventory and demand. Information Technology is booming in Hyderabad and on top of that, the Pharma sector is witnessing thriving growth.
Small and medium-scale startups or companies will most likely prefer Co-working places.
Individuals like freelancers and digital content creators are looking for Co-working spaces.
But overall co-space in Hyderabad is skyrocketing