Companies worldwide are grappling with a surge of changes coming in the workspace industry with not only employees coming back with a whole different set of expectations but also with employers re-defining their needs from their providers. Harsh Binani believes that in a post-pandemic environment, employees seem to have a strong desire to keep a sizable amount of freedom in their working conditions.
To draw and retain talent, businesses are looking into new support systems related to that transition. Flexible office space might be one of the threads that enable us to create the future of work. Although the flex market wasn’t spared by the pandemic, it performed better than most had anticipated. Flex providers have in fact deliberately changed their tactics to fulfil client expectations in a post-pandemic environment while being adaptable themselves.
Demand Drivers for Managed Office Spaces in India
Demand in office space has seen a rise that gave fast-paced growth to the office space industry. While new work models are offering employees a new level of flexibility along with giving enterprises an opportunity to reimagine their space needs, pursuing more cost-effective alternatives. Harsh Binani, the co-founder of India’s largest Managed Workspace Platform, Smartworks, shares a few key drivers who have played a big role in the rising demand for office space in India.
Employees Want to Choose
It is no secret that employees are now looking forward to a changed workspace environment that caters to the new normal. Harsh Binani shares that employees now want the flexibility to decide where they want to work and when. Working from home has created digital fatigue and a need for a real human connection has emerged on a much greater level, but at the same time employees do not want to miss out on the comfort that comes with working from home. Hence, employees are now looking at a blend that makes working more productive, creative and collaborative.
Employees who had relatively lengthy commutes and desired to maintain a work/life balance between the home and the workplace expressed this opinion even more. While some employers are exploring flex space to provide employees with an office closer to home, some people are already actively using flex space. Many local and national flex office providers are responding to this need by providing on-demand, pay-per-use memberships or subscription-based services.
The Wave of Change for Flex Spaces
The urge to find flexible workplaces has increased over the past several years for many businesses. This is due to their desire to convert their real estate expenditures from fixed to variable expenses, which would save them a sizable amount of money. Including flexible workplaces in the business, a portfolio might be a smart choice for the company when evaluating the possible future effects.
Flex spaces come with the opportunity for enterprises to cut their costs, create a new working environment and build an opportunity for employees to feel more comfortable working. Flexible workspaces are giving enterprises an opportunity to move ahead with a more flexible approach. Harsh Binani believes that working from home has given enterprises the opportunity to look in the other direction from traditional workspaces and work models, toward flexible workspaces and hybrid work models.
Towards the Future
Flex office space may now be a feasible and essential component of the commercial real estate sector now and in the future. Harsh Binani believes that only time will tell how much altered the demand for office space will be as a result. Flex providers, however, are well positioned to satisfy the needs of office clients who have recovered from the epidemic more agile than ever.