Employee experience is no longer considered ‘nice-to-haves’ but is now essential for growth, scalability and sustainability. The way that companies are visualising how and where their teams should work will continue to change and provide opportunities for managed office space solutions as a financial alternative to traditional leases.
In major business locations such as Bengaluru, Mumbai, Pune, Hyderabad and Chennai, a growing number of organisations are utilising premium managed workspace solutions in order to remain agile, efficient and prepared for the future.
Below are reasons why managed office space solutions are on the rise in comparison to traditional leases and the benefits of managed workspaces along with the impact they are having on the modern workplace.
Let’s understand managed office vs traditional lease.
Lower Upfront Costs and Predictable Costs
Traditional office leases often involve significant upfront investments, including security deposits, fit-out expenses, furniture purchases, IT infrastructure installation and ongoing maintenance. All of these expenses can place a significant strain on cash flow, particularly for growing organisations or those entering new markets.
With fully managed office space, all of these financial barriers can be avoided. With one clear monthly payment, organisations can gain access to a functioning office without capital expenditures. Everything from furniture to utilities, internet, housekeeping and security is included in the one simple monthly payment, giving organisations predictability in budgeting and allowing them to invest their capital more strategically toward their core objectives instead of covering real estate expenses.
Rapid Installation and the Ability to Maintain Business Operations
Setting up a new traditional office takes many months due to the need for numerous vendors, securing approvals from various agencies and possible delays. Conversely, managed workspaces come fully equipped, therefore enabling a team to move into space and start working immediately, often within days (even hours).
This speed is particularly valuable for:
- Companies that scale quickly
- New city offices that enterprises attempt to establish
- Project teams operating with strict time requirements
Managed office space enables an organisation to continue uninterrupted, allowing leadership to devote their time to growth rather than logistics.
Ability to Scale Up or Down
The inflexibility of the fixed locking period in lease agreements and the lease terms make it challenging for an organisation to adapt to changing market conditions.
Premium managed workspaces are flexible and therefore can be adapted quickly to meet changing needs. For example, if a company finds itself needing to add 20 seats, or reduce seats or change the set-up of space, a managed space solution provides flexibility and adaptability.
Prime Locations Without the Cost and Complexity of Management
Rental rates for prime business district office space in major cities, including Bengaluru and Mumbai, are typically more expensive than other types of rental properties. In addition, securing and managing a prime office space adds complexity in terms of costs associated with management. Managed workspace providers give businesses access to strategically located offices in key commercial hubs without the burden of negotiating leases or managing facilities. Employees benefit from better connectivity, reduced commute times and access to nearby amenities, all of which enhance productivity and satisfaction.
Operational Efficiency and Professional Management
A full-time role in a business is often an office manager, as they are responsible for managing vendors, ensuring compliance, managing repairs and providing quality services. Many businesses will have it as part of their responsibility to manage these areas using traditional leases.
Managed workspaces will eliminate most of this responsibility from the business. Managed workspaces have a dedicated team that is responsible for all of the overburdened operations that would normally need to be performed by individual staff within the organisation such as:
- Facility Management
- IT Support
- Security and Compliance
- Day-to-Day Operations
With fully managed office space, the leadership teams and human resources departments can spend their time focusing on their teams, performance and strategic planning rather than executing the day-to-day operations of the business.
A Better Employee Experience Leads to Higher Employee Engagement
The workforce of today expects a lot more than just desks and chairs. Today’s workforce values a well-designed workspace, which will provide them with opportunities to collaborate, focus and experience the best possible way to work.
Managed workspaces are designed with:
- Ergonomic furniture
- Collaborative zones and meeting rooms
- Breakout and community spaces
- Strong Technology Support
The better the workplace design is, the greater the level of employee engagement, morale and retention levels will be compared to traditional office environments that require businesses to put in additional resources.
Managed Workspaces are Designed to Support a Hybrid Work Model in the Future
As hybrid working becomes more prevalent, businesses are looking for workplaces that support flexibility, collaboration and culture. Managed Workspaces have been purposely created to provide businesses with the flexibility to:
- Support multinational teams located in various cities
- Have a consistent workplace standard
With locations in multiple cities, businesses can provide employees the freedom to work closer to home while maintaining a unified office experience.
Less Risk/More Flexibility
Long-term leasing exposes an organisation to market risks, as the economy may experience a recession or changes to the type of workforce that is employed. A furnished managed office for rent reduces these risks with shorter terms and more flexible offerings.
Conclusion
Finding the Right Workspace with 315Work Avenue
Deciding to move from a traditional lease to a managed workspace is not just about a real estate decision; it is a strategic move for many organizations. With their increased flexibility, ability to reduce overall costs, opportunities for faster build-out, and enhanced experience for employees, managed workspaces will be the best choice for most companies.
If you are looking for a well-designed, managed and scalable workspace in Bangalore, Mumbai, Pune, Hyderabad or Chennai, 315Work Avenue is your answer. The managed workspaces at 315Work Avenue can meet a wide variety of business needs, therefore allowing you to concentrate on what is most important to your company: innovation, growth and people, while providing you with a workspace that grows with you.
If you want to create a workplace that is productive and prepared for the future and want to avoid the limitations of a traditional leasing arrangement, then the managed workspaces at 315Work Avenue offer you the best combination of flexibility, functionality and comfort.
