Business

Hybrid Office Spaces In India And Their Impact on Commercial Real Estate

If one can manage space then many things can be achieved in one place. The covid pandemic has shown that the conventional office segment, as we have known it, will go through a major transformation. And the preference for flexible workspaces has proven this to be true.  In some cases, working at this time has made both the office and the employee benefit from remote work. Whereas others feel it’s more productive to work from office spaces. There is a high probability that the traditional work process will vanish altogether and a hybrid office model will take its place.

Hybrid Office Space in the Present Time

The hybrid model will consist of a combination of the remote and in-office workplace. According to the concept of the hybrid model, some employees will work in an office and others will work from home, depending on the work they have to do. Employees will have full freedom to work from any place they like such as coworking centres, public spaces, and even from home. The report of “ The future is Alex” stated that 10% to 15% of the workspace of offices in India is about to expand in the next three years.

In order to have a highly effective hybrid workspace, one must build the infrastructure first. The main objective of the hybrid office is to manage space according to business needs. The company should provide all the employees every opportunity of shared office space which will contain a coworking desk and act as a coworking centre. Since there will be no restrictions about the workplace, suitable digital workspaces must also be provided. This is where the concept of  managed office comes in.

How has the Pandemic Impacted Our Lives?

The pandemic has shown us how physical attendance can be difficult if there is an emergency. However, work must go on. This aspect compelled the companies to take the hybrid model more seriously.

The co-working spaces help the company to work efficiently without investing a huge amount of capital in real estate. In fact, a coworking space in Hyderabad helps companies to minimize expenses. According to Colliers International, more than 3 million square feet of space will be available in six Indian states due to coworking centres and managed office space.

The implementation of a coworking office was experimental in the six big states in India in the initial stage. But in the post-pandemic period, tier-II cities have also shown interest in these techniques. Some of the large enterprises are setting up their satellite hubs and selling units even in the smaller cities.

But on the other side of the coin, many consider a hybrid model that is non-compatible. According to a study on LinkedIn, some complain about less engagement with the bosses and team leaders. Some people face loneliness and lack of focus while working in their homes for days. Since in the work from home (WFH) opportunity everything is done through video and audio format, some of the employees find it difficult to jot down all information.

Though many want to come back to their cubicles for work, a whopping 86% ( 9 out of 10) employees lean towards this hybrid model since they find it easy to manage their work-life in this hybrid model.

Final Thoughts

Important and interesting research was done by Microsoft Work Trend Index and named it as the “Hybrid Paradox”. According to this paradox, most of the employees want flexibility and independence in their workplace but at the same time, they want human connection and attention as well. So to develop flawless hybrid models, one must make the virtual more interactive.

The company or organisation must conduct programs in order to make realise that virtually working employees are also an integral part of the company. Though the transaction of offices from traditional to hybrid is under progress in the near future most of the companies are expected to adopt this system.

One such co working office solutions provider is iKeva which is a suitable option if you are ready to venture for fully serviced and managed spaces. With exclusive membership benefits you will get access to a hygienic environment where everything is tailor-made to suit your specific needs and budget.

Hybrid work space model will help residential real estate as well to grow exponentially, since employees need not commute to their office everyday they will find a cheaper rental houses in the periphery which may leads to investing in residential lands/plots or buy a new house in the outskirts of the city.

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