6 questions to ask yourself before selecting a co-working space

The right office can have a huge impact upon the productivity and effectiveness of a company. According to a study by the Gallup organisation and the Queen's School of Business, unhappy employees are 37 percent more likely to indulge in absenteeism and show 60 percent more errors in their work, leading to a 18 percent fall in productivity and a 16 percent fall in profitability.

Finding and procuring the perfect office space requires a meticulous review of available properties, added to the logistical hassle of finding the right furnishing, fittings, and supplies.

To address this problem, employers and business owners are increasingly turning towards co-working spaces and premium serviced office-space to find the best working environments for their workforce.

Founder and CEO, Workspace, Rahul Agrawal, culls out six questions to ask yourself before selecting a co-working or premium office space:

How suitable is the location for you and your employees?

Being located at a prestigious commercial centre might go a long way in helping your company build a good reputation amongst clients, collaborators, and vendors. Therefore, look for a well-located office situated near a public transit hub, bearing an address that will impress your clients, employees and peers alike.

From an image point of view, your address will be carried on the website of your company and will be associated with your company from the first day itself.

Will the space suit your working style?

India Inc. has grown remarkably variegated over the last few years, with every conceivable kind of working culture in existence today; from exceedingly formal and hierarchical structures to the more laid-back and relaxed working environments.

It is important that the co-working or premium serviced office-space you choose is a good fit for your company's working style and culture.

Are the costs and seating plans suitable for you and flexible enough?

From buying individual hot seats (shifting workstations allocated on a periodic basis) in the short term to booking bays or wings for months or even a year, your plans and expectations of your company would play a key role in determining what works for you, and whether the office space you are considering can meet your requirements.

How good are the networking spaces and opportunities?

Ensure that the co-working space or premium serviced office space has common shared areas for interaction and networking, so that more enterprising employees can run into business development opportunities over a cup of coffee or a shared moment with an employee from another company.

Finding out which other companies are taking up that space, determining the kinds of businesses that these office spaces are targeting, and figuring out your own company's place in such offices will be crucial in helping you make your choice.

Are there provisions for the basic infrastructure and supplies needed for productivity?

From basic stationery to whiteboards, markers to pens, printers to good WiFi, ample storage space to a good receptionist and competent administrative staff, the list of requirements in an office is extremely long.

While some things like good coffee and tea would be important for every company, you might not need whiteboards and markers. Make sure that the available facilities match your requirements, and see whether the use of any would carry a charge.

What are the benefits and perks for each provider?

Co-working spaces and premium serviced office spaces are all keen to distinguish themselves and attempt to add different features and benefits to appeal to you, their potential customer.

The best kinds of office spaces would ensure an accessible creche and a well-supplied cafe at the very least. At the higher end of the spectrum, the best office spaces would offer salons, gyms, restaurants, rest areas, and some open spaces to catch a breath of fresh air and sunlight during the hectic workday.

These facilities are often a keen differentiator for high-performing employees, and a premium serviced office space would be best for employers to hire promising talent.