<p><em>Co-working is a solution to most of the issues faced by lean teams today, says <strong>Monika Misra</strong></em><br><br>It is no longer a secret that contented workers are more productive, creative, better team-players and open to positive collaboration. Having established that, some of the challenges that companies face is engaging their workforce methodically and meaningfully and in improving satisfaction, thereby performance.<br><br>In large teams employee engagement is elaborately planned and managed with custom events, workshops and outdoor activities. However, in smaller teams comprising branch offices of multinationals, local businesses, professional consultants and startups, it becomes difficult to replicate the same ideas. Secondly, it doesn't always make monetary sense to invest into a resource for employee engagement for lean teams.<br><br>From the employee standpoint too, engagement initiatives at this level, seldom reflect an opportunity to build a professional network or share expertise. Small companies therefore face the recurrent challenge of detachment and de-motivation within teams, with not too many tried and tested solutions to implement.<br> </p><table align="right" border="0" cellpadding="4" cellspacing="4" style="width: 200px;"><tbody><tr><td><img alt="" src="http://bw-image.s3.amazonaws.com/Monika_Misra.jpg" style="width: 200px; height: 200px;"></td></tr><tr><td><em><strong>Monika Misra</strong></em></td></tr></tbody></table><p><strong>Enter… 'Co-working'</strong><br>Conceptualised to make small team environments lively, 'co-working' spaces harbor collaboration and openness, and connect like-minded people in a business eco-system. Regardless of the strength of your workforce, co-working delivers several perks, which are otherwise a privilege of large enterprises alone.<br><br><strong>1.</strong> Community: A sense of community and belongingness is essential to ensure cutting-edge work. Employees perform better, when they look forward to coming to work. Co-working spaces are great at cultivating and nurturing this. There are fun activities, interactive games, and knowledge sharing initiatives etc. that bind people within teams and with other teams outside of their comfort zone.<br><strong>2.</strong> Collaboration: Co-working offers several opportunities for collaboration. Teams can discover vendors and potential clients at the workplace. Meeting people from varied interests and expertise areas opens up avenues for co-creation and collaboration. With almost every professional skill available at one place, one doesn't have to go far to find partners to complete work on time.<br><strong>3. </strong> Diversity: Small teams - whether in MNCs or startups, face the challenge of limited interaction, and hardly have access to outside opinion. Further, hanging out with the same set of individuals with likely restrain their social life too. 'Co-working' opens doors, and encourages employees to go out and engage with other individuals in the industry.<br><strong>4. </strong> Employer Branding: Employees are typically conscious of where they work from. Employer branding is a critical advantage of a co-working space that replicates a professionally designed and comfortable workspace. Further, employee engagement, which is usually a challenge for small teams, is easily planned and managed in a co-working space. Engaged employees create better work. Better work, indicate better profits.<br><strong>5. </strong> Discovery: The opportunity to discover and seek potential customers or vendors for a timely project, through easy means such as posting requirements on the board in the common areas, is a possibility unique to the co-working space. Besides this, you could also find potential hires and professional consultants within the same four walls.<br><strong>6. </strong> Managed infrastructure and maintenance: Quality real-estate and infrastructure are the primary requirements for an office set-up. With the advent of co-working, large MNCs are now assured that their remote branch offices enjoy the same quality work-space as their larger offices. Startups and freelancers enjoy access to superior working space for a considerably low cost.<br><strong>7. </strong> Shared facilities: Creating a seamless workspace with facilities such as a gym, pantry or a relaxing zone might not be financially feasible, if your team size is very small. Further, employing resources for non-core functions like telephone operation, reception, cleaning and maintenance, security etc., might result in high overheads too. A co-working space comes to your aid, by introducing shared resources and common areas, without even stepping out of your office premise.<br><strong>8. </strong> Collective Buying Power: Teams working out of co-working spaces enjoy group benefits that are otherwise only available to large teams. While they are still a small team, they become part of a larger collective, which can demand corporate benefits, representing their higher strength.<br><br>These benefits are then translated to the small teams. Also, when teams start something anew, they need the right set of vendors and service providers who can add their credible experience and knowledge to the project. Vetted references can bring down the search time and expedite implementation process in several instances.<br><br>Co-working is a solution to most of the issues faced by lean teams today. In addition to solving all their obvious challenges, co-working spaces also offer value-add that makes work-life efficient and enjoyable to each team that is part of the ecosystem, no matter who you are - a small branch of a large MNC, or a core-team of a small startup. Co-working, surely, is for all!<br><br>The author is founder and general manager of iKeva</p>
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