What’s going on:
An increasing number of employers in India are favoring flexible office space solutions. According to Business Standard, 47% of Indian corporates are planning to expand their utilization of these spaces in the upcoming year. The findings were published by real estate consultancy firm CBRE.
The data reveals that around 56% of respondents want more than 10% of their office portfolio as flexible spaces by 2025, according to Business Outreach.
Why it matters:
There is a heightened desire within India’s workforce to strike a balance between business objectives and the needs of employees. One approach that has reportedly proven to be successful in the country is the implementation of Hybrid Work policies.
India’s increased adoption of flexible office spaces and policies reflect a growing emphasis on employee wellbeing, flexibility, and efficient resource utilization.
How it’ll impact the future:
If this trend continues, flexible office spaces will likely lead to a more adaptable and resilient workforce. The increased adoption will impact the commercial real estate market in the country, which in turn can potentially contribute to the growth of smaller cities, as companies seek skilled talent pools and improved infrastructure.
As one of the largest economies in the world, India’s increasing adoption of flexible workspaces and hybrid work policies may influence companies at other countries to shift in organizational culture.