The hybrid model of working, where both office and remote workings are allowed, continues to be the most preferred workspace strategy. A majority of companies (63 percent) are currently embracing the hybrid model, according to a survey by Colliers. Consulting, BFSI and engineering companies are at the forefront of adopting the model. “Three days a week in the office is the most popular hybrid working style for India Inc, with 26 percent of the firms preferring the same. The survey indicated that this hybrid pattern allows businesses to pursue business goals without hindrances while offering better work-life balance to employees,” Colliers said in a statement.
According to its survey, 63 percent of the firms are currently embracing a hybrid model with a varying number of days in the office, while 28 percent work all days from the office. About 38 per cent of the organisations are looking to lease new office spaces in next 6-18 months, while another 35 percent would like to retain their existing portfolios. Half of the organizations who are planning portfolio expansion in the next 6-18 months belong to the Technology sector. About 53 percent of the firms feel that productivity has increased since remote work started, according to the survey. According to the survey, about 28 percent of the firms feel that discrepancy in a workplace environment is the biggest challenge in Hybrid working, followed by communication barriers and lack of collaboration.
“About 38 percent of the organizations indicated that they are planning portfolio expansion in the next 6-18 months, by leasing traditional as well as flex spaces. A majority of the businesses implement hybrid working in varying degrees, 35 percent highlighted that they would like to retain their existing portfolios, while 13 percent look to consolidate their office spaces,” Colliers stated. Ramesh Nair, chief executive officer (India) and managing director (market development-Asia) of Colliers, said, “The tier II story is back in the market. Large firms, especially, are leading this trend as almost 70 percent of the large enterprises are open to exploring flex in non-metro cities, while only 27 percent of the smaller firms are considering the same. About half of the firms who are planning office expansion in the next 6-18 months are from the Technology sector, followed by BFSI.”
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