Noida, a planned city that is part of the National Capital Region (NCR), is one of the fast-growing business hubs in India. Over the last decade, the city has attracted many MNCs and established brands, including Microsoft, Samsung, HCL, and Barclays, to name a few. Noida is also home to many unicorns, including the Indian digital payments giant Paytm.
MNCs in Noida have been adding coworking spaces to their commercial real estate portfolio for quite some time, while the pandemic has accelerated this trend to a considerable extent. In addition to offering premium and flexible office space in Noida, coworking helps large companies to save on costs, attract talents, enhance employee experience, and facilitate remote working.
Let’s check out the top five coworking benefits for corporates and how a shared office for rent in Noida contributes to the employee experience and operational efficiency of large establishments and MNCs.
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1. Readably available office spaces
As per news reports, Noida is emerging as the prime commercial real estate destination in the NCR with the highest rates of office consumption. The JLL Office Market Update – Q1 2021 also shows that the city accounts for over 55% of office space leasing in the region. These numbers suggest that the demand for commercial offices in Noida is steadily increasing.
Coworking in Noida helps MNCs stay ahead of the stiff competition in the city’s commercial realty market. Reputed coworking operators have offices in all prime locations for office space in Noida, including Sector 4, Sector 16, Sector 18, and Sector 29. With ready-to-move-in offices equipped with all facilities, they cater to the office space requirements of MNCs.
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2. Better employee experience
For every big enterprise, well-equipped offices and a productive work environment are integral to enhancing the employee experience and ensuring job satisfaction. Workplace flexibility is also a top priority for over 74% of Indian employees, say the India-specific findings of the latest Microsoft Work Trend Index.
By moving to a shared office for rent in Noida, big enterprises can give employees unmatched flexibility in when and where they work. By opting for neighborhood coworking, corporates can also reduce the commuting time of their workforce, leading to a better work-life balance and greater employee experience.
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3. Hybrid working and distributed teams
Remote working has been a rising trend for quite some time, and with the pandemic, it has become a global norm. Many large companies are looking to strengthen their remote work model by creating high-performing teams distributed across various geographical locations, both within the country and outside of it.
The work-from-home arrangement is not sufficient to achieve this – a hybrid work model that includes flexible and on-demand office spaces seems to be the way forward. A shared office or coworking space in Noida can help create an effective and sustainable hybrid work model.
By choosing coworking, large corporates can have multiple offices in the city and the NCR, and even across the country. Employees can work from the office in their city/locality, while MNCs can cater to local as well as non-local candidates.
4. Reduces operational costs and maintenance efforts
Big enterprises must maintain high standards when it comes to offices. In addition to fully-furnished workstations, a corporate office should have cafeterias, breakout zones, fitness rooms, front desk services, parking, conference rooms, green/outdoor spaces, and the like. Setting up and maintaining such a full-fledged private office, however, requires additional spending.
According to a report by Knight Frank, established companies spend around 9% to 12% of their overall operating costs on real estate requirements alone. Coworking provides MNCs with furnished offices at lower rentals and minimal maintenance efforts. By choosing a coworking office in Noida or any other Indian city, corporates can save up to 25% of their expenses, say reports.
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5. Attracting talents and reducing attrition
Noida is one of the biggest job markets in India, and job seekers from all parts of the country consider the city as a potential destination. However, millennial candidates look for more than just a fat salary these days – flexible workplaces, agile offices, a dynamic work environment, a nurturing work culture, learning and networking opportunities, and a supportive community are some of their top priorities.
Corporates working from a coworking or shared office space for rent in Noida can offer job seekers all these and a lot more. With a gamut of facilities and features that appeal to millennial candidates, coworking space help large establishments attract talents from across the country. Flexible office spaces also help MNCs reduce employee attrition by keeping employee satisfaction levels high.
The coworking benefits for corporates don’t end here. It enables corporates to build a work culture based on community and collaboration and offers higher networking potentials. As a hub brimming with freelancers, startups, and small businesses, a coworking office in Noida makes it easier for MNCs to hunt for talents and form strategic partnerships. All these make coworking a critical component of the corporate real estate strategy.
Are you an established company looking for a coworking office space for rent in Noida? Check out the office solutions offered by The Office Pass (TOP), located in the prominent commercial hubs in the city. For MNCs looking for dedicated private offices, we also provide managed office solutions to corporate clients.