Vax is the Oxford word of the year for 2021 however, for the corporate world it would probably be ‘hybrid’.
The ambiguity of the pandemic gave rise to one certainty – there was no going back to the office as we knew it. The consensus on the new normal was a distributed work model with a percentage of the workforce working from home or at a coworking space near home or rotational rostering at a head office.
But how have organisations gone ‘hybrid’?
First, let’s take a look at top 3 problems companies faced during the pandemic.
- Exorbitant rentals of unused office spaces (including parking, housekeeping & administrative costs)
- Fixed, long-term leases
- Calling the workforce to a centralized location
The above issues encapsulate the very reasons flex became a prominent component of an overall workspace strategy.
Here are some real live examples of how companies have rejigged their real estate portfolio to incorporate flex not just for employee experience but also from a cost optimisation perspective.
Company A: The Indian arm of this MNC had a mandate to double the space capacity to accommodate social distancing norms for their 400+ employees. They opted for a short-term lease with us for a 200-seater till they could find a larger space. Within months of their move-in, they extended their tenure and have also opted for our WNH program for their support teams.
Company B: A leading pharmaceutical manufacturing company with a projected 2x expansion plan within a 3-year horizon ended their traditional lease last year and moved to a managed office with exclusive access within the same CBD. They have also signed up 2 more satellite managed offices – one in the same city, different micromarket and the other in a tier 2 city. The mandate for the future expansion is part of their agreement with us.
Company C: With many employees back in their hometowns, this ecommerce giant opted for a solution to give people a choice to get back to the office without them having to come to the base location. Our Awfis Now product was created to fulfil this demand and the employees could use any of our almost 100 centres pan India. Simply put, it works like a corporate sim card with each employee having independent access and number of hours billed to the company.
*We adhere to a strict code of confidentiality and don’t disclose client names.
Unpredictable markets, a global pandemic and an uncertain future make it impossible to predict real estate requirements for an organisation from a 5 to 10-year standpoint. Both under or overestimation can translate into losses and the requirements are evolving in shorter cycles. Flex spaces offer a chance to take calculated decisions with expansion options without heavy cost repercussions. Whether it’s the Hub & Spoke model or a complete shift to flex; the switch to a flexible work style is here to stay.
The only thing organisations need to figure is – how prominently should flex feature in their workplace strategy?
