BENGALURU : In a biWith enterprises hit by the pandemic looking to cut costs, many are giving up office spaces and instead adopting a flexible workspace model. Coworking major WeWork India, headquartered in Bengaluru, has consequently seen a 10 per cent increase in its enterprise client base since the lockdown. Enterprise clients now comprise 60 per cent of its client base, with the rest spread between startups, freelancers, and SMBs, says Varun Gopinath, Chief Revenue Officer, WeWork India in an interview with The New Indian Express. Excerpts:
In a post-pandemic scenario, how important a role will co-working spaces play?
We are now witnessing several companies adopting flexible work solutions and gravitating towards flexible working schedules through the implementation of rostered work shifts, de-densification of office spaces, and Work Near Home (WNH). We believe this situation presents a unique opportunity for flexible workspace providers such as We- Work, to support businesses as they reconsider their fixed asset investments in order to bring in flexibility and save on overhead costs. As the economy begins to find its way back to growth, flexible workspaces will play an even more important role in rationalizing costs and maintaining financial agility.
After the recent $100 million infusion from the parent company, what is the strategy in place for India?
We will be able to efficiently execute our India strategy focused around profitability and great member experience. We- Work is also keen to strengthen conversations and restructure partnerships with landlords via newer formats like revenue sharing leases.
Has your client base seen any changes?
We have seen a 10 per cent growth in our enterprise portfolio since the lockdown which itself speaks volume about the kind of traction we are witnessing from enterprise members and how confident they are towards flexible workspaces. WeWork India now consists of 60 per cent enterprise members and the remaining 40 per cent is a healthy mix of startups, freelancers, and SMBs. We have also recently welcomed Khaitan & Co. as members.