| |September 20188THOUGHT LEADERSHIPIndia has emerged as one of the world's most pre-ferred investment markets, thanks to its thriving economy, burgeoning startup ecosystem, and the ever-increasing talent pool. With businesses, both big & small, continuing to grow and broadening their hori-zon, an expensive real estate coupled with new-age pro-fessionals desire to work in an aesthetically appealing environment, which has spurred demand for collabo-rative workspaces in India. Cost-efficient, flexible and conducive environment for creativity and networking, co-working spaces are promoting a paradigm shift in the way India works. And, the so-called `Millennials' are driving this change.And, the new millennial workforce will further ac-celerate this changing office dynamics. As per stats, mil-lennials are set to form 50 percent of the global work-force by 2020, which very much aligns with the fact that India is the youngest startup nation in the world with the rapid increase in millennial workforce. This younger lot is ready to ditch the conventional work-spaces for swankier, flexible and cost-effective spaces that effortlessly embrace the new-age technologies into their system. Thus, to meet this growing demand of the ever-increasing younger generation, India needs more co-working spaces.Why Millennials prefer Co-working spaces?GenX and millennials together have today disrupted the conventional workspace environment, augmenting a positive cultural change. For them, the office is no longer a place to sit and sneer, but rather an environ-ment where they can enhance their creativity, network effectively, and thereby contribute to the profitability of their companies. Besides swanky spaces, the tech-sav-vy millennials also prefer their new workstations to be completely technologically equipped offering hy-per-connectivity solutions and state-of-the-art infra-structure. And, co-working spaces are offering just that. Furthermore, these co-working spaces are proving to be the best alternative for rising number of freelancers, for women employees seeking flexibility, and for those looking to be stationed at prime locales that has easy connectivity and faster commute options.Alternately, companies aspiring to innovate and seeking to tap into the rising new generation talent cannot ignore co-working. Both big & small companies are trying to embrace this new reality of employees' ex-pectations and technology-enabled style of working. Ac-cordingly, they are ready to alter their workplace strate-gies. They know that an innovative workstation design focused on flexibility and interaction in a well-con-By Prashant Thakur, Head - Research, ANAROCK Property ConsultantsANAROCK Property Consultants is one of India's leading real estate services company which delivers Residential business, such as Broking & Advisory services, & Investment Business, such as Debt, Equity and mezzanine funding business, to clients.CO-WORKING: WORKSPACES THAT INSPIRE THE MILLENNIALS
< Page 7 | Page 9 >