Hospitality company OYO has revealed that it will be transitioning to a hybrid workspace model indefinitely, allowing workers to either work from wherever best suits them.
“Our workforce is divided into three categories, corporate employees, capability functions and field staff,” said Dinesh Ramamurthi, Chief Human Resources Officer. “While the field staff is already stepping out and attending office following all the health and safety protocols, our corporate employees and capability functions are also fully operational, and are opting for a combination of work from home and working from flexible coworking spaces solutions.”
OYO is one of many companies that have pivoted to a more flexible work arrangement over the past few months in wake of the ongoing pandemic.
Companies making this transition are now looking to offload their office space in an effort to cut costs.
A Knight Frank report found that office leasing transactions in the first half of 2020 fell by 37% year-on-year to 17.2 million square feet, which is the biggest drop in a decade.
According to Anuj Puri, Chairman of ANAROCK Property Consultants, hybrid workspace models are the ideal solution to the future of workspaces as it provides the benefits of both remote working and in-person collaborative opportunities.
