How are Coworking spaces making an Impact on the outcome of Multinational Companies after pandemic

2020- A year that people fear to recall. A raging pandemic threatened to destroy the very existence of man. The fear of the contagious disease was itself contagious. Like the disease, the fear spread like wildfire until man locked himself away from the entire world. A catastrophe took over the world. A catastrophe that man had never seen, never heard about and never thought of. The fear of which seeped deep down into our bones. One third of the entire world was under a total lockdown. The pandemic shook the very existence of the human race and brought ‘normal’ life to a standstill. 

In that uncertain scenario and dicey situations, survival was difficult. Every single corporation was under a crisis. Be it a conglomerate or a start up, a merchant or a freelancer, none of them remained in their static position. But the ones that remained severely affected were multinational companies. Having their offices in different countries across the globe and dealing with all of them was a humongous task. This depended on the rising number of cases in each country, the laws and rules of each government and the general outlook of the public. 

However, after the situation came under control bringing back normality was even a difficult task. For this the multinational corporations came up with ideas and propositions. One such tool used for overcoming the crisis was and is- coworking spaces. Although initially it seemed that coworking spaces in Bangalore might be permanently stamped because they gather a sizable population and might become hotspots of the coronavirus. But to a surprise, the demand for coworking spaces increased once the emergency stage of the crises abated. The shared office spaces not only played a major role in restoring normalcy to the professional world but also made a positive impact on the outcome of multinational corporations after the pandemic. 

  • Giving shelter to all the stranded workers- The immediate aftermath of the catastrophe was that cities, countries and states sealed their boundaries and cut off the connectivity from different parts of the globe to curb the spread of the virus. All the workers and employees were left stranded. Thus, most of them resorted to distant working and working virtually. This meant rising need for office infrastructure like IT tech support, hardware gadgets etc. Therefore, the need for this led more and more people being drawn to plug and play offices. Because these offices are fully furnished, with all the needs of the employees satisfied, they became one of the centres of recovery. 
  • Social distancing in the office  Premises- As various governments, are passing out new laws and regulations as precautionary measures that are emphasizing over physical and social distancing among the employees. This is causing one individual to utilise 4 times the space he previously occupied. The offices that were built to accommodate ten thousand people can now only allow two or three thousand people to work at a time. Therefore, such multinational corporations are eyeing coworking spaces to locate their few employees off campus but to ensure proper unhindered productivity from the employee’s side. 
  • Downsizing of businesses- On one hand a few companies emerged as the ‘winners’ post pandemic. Whereas, a few of them filed for bankruptcy. A major portion of multinationals are still juggling between both. Struggling to continue its existence among increasing liabilities and decreasing revenue and profit shares isn’t an easy task. One of the major steps that was undertaken was downsizing the business. MNCs cut down their expenditures to the best ability and exploited all of their assets to full potential. 

In this scenario, paying rents, leases and huge bills is not possible. The key to recover the losses is to decrease the expenditures to the maximum ability. Coworking space is an approach that goes in the same line. It provides an office for minimal rent on a monthly basis without any hefty lease, overhead costs and hidden expenditures. This cuts off the stress of running around with complicated agreements and boosts productivity by eliminating diversions. 

  • Community reconciliation- The very nature of the novel disease required man to distance from other beings to curb its spread. This created unintentional community bias and disharmony. Closely knitting people is one of the remedial measures of crisis management. It brings together different people from different walks of life and binds them. MNCs allocate huge funds to Human Resource Management in their firms. Coworking can boosts employee’s efficiency and company’s total output

 Coworking spaces like iKeva are sanitized and hygienic and ensure proper physical distancing for a safe working experience. Visit us now for a safe and stress free employment. 

Karan Vasita

Amazon Erc Number

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