55640In view of reduced inflation and expenses, will it be right to invest in IT stocks?

For most businesses in India, 2021 is proving to be a challenging year. The second wave of the pandemic that started in February has hit them hard, while a potentially dangerous third wave is looming. Business owners and employees are uncertain about their back-to-office plans – commuting to the office is a risky affair, but working from home (WFH) doesn’t seem to be a sustainable long-term solution either.

Naturally, there’s an increased need for a more viable remote work model — something that offers the flexibility of WFH and the advantages of a professional office environment.

What are neighbourhood co-working spaces?

They cater to a target audience living within a radius of 5 km. It gives users a fully-equipped, hi-end, professional office space close to their residence. And the best part? You can #WalkToWork and save the long hours spent on commuting.

Here are four reasons why it is the most feasible solution for pandemic-hit businesses in 2021:

Helps reduce risks related to commuting

Commuting to the office is increasingly becoming a concern in 2021 due to the new and highly infectious virus variants. Travelling in buses, metros, and cabs increases your exposure to the virus. Moreover, authorities keep imposing travel restrictions as the number of positive cases spikes in a city/locality, making it difficult to commute even by private vehicles.

Even as the second wave is receding, the metro and bus services in many Indian cities are either suspended or operate with reduced timings. The new Delta Plus variant, which is more infectious than the previous ones, also adds to the gravity of the situation.

As traveling to work is expected to remain a challenge in 2021, businesses need a solution that involves little or no commuting. One of the most notable advantages of neighbourhood co-working spaces is that you can do away with long-distance commuting – the office is within walking distance of your residence.

It offers a productive work environment

It has been more than a year and a half since companies switched to working from home. Despite its benefits, WFH might not be a sustainable or productive remote work model in the long term. Many surveys and studies show a drop in the productivity of WFH employees due to distractions and other factors.

That’s not all! Many employees have started experiencing WFH fatigue, which adversely impacts their engagement and output. Considering that the effects of the pandemic are likely to go beyond 2021, it’s high time companies started looking for a productive work environment for their employees.

Neighborhood co-working serves as an excellent choice for companies, entrepreneurs, and freelance professionals in this regard. It offers a productive work environment, devoid of distractions — a place where you can get your head down and work.

Helps revive shrinking professional networks

Another adverse effect of long-term WHF is that it damages professional and workplace networks. People working from home get little or no opportunities to socialise with their teams or network with members of the business community. It leads to reduced knowledge sharing, which sabotages innovation and employee engagement.

Latest surveys show that over 73% of Indian employees want more in-person interactions with their team members. Collaboration and networking are among the top advantages of neighbourhood co-working spaces. In addition to spending quality time with your team, you get opportunities to socialize and collaborate with other Coworking members.

Enhances employee well-being and work-life balance

Long-term remote working might negatively impact the mental and emotional wellbeing of people. More than a year into remote working, digital exhaustion is setting in among employees due to the increase in online meetings, video conferences, email communications, chats, and other forms of digital overload, says the latest survey by Microsoft.

The mental health of remote workers is also on the decline. Many Indian employees working from home suffer from anxiety, stress, burnout, lack of motivation, problems with work-life balance, and other mental health issues. The survey also suggests that a blended model where employees work from a professional workplace at least once a week is more effective than the full-time remote work model.

The pandemic is likely to continue through 2021 and beyond, but innovative office solutions such as neighbourhood co-working will help you stay in business without compromising on safety and employee productivity. As a remote work model that blends the benefits of working from home and workplaces, it offers you the best of both worlds.