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Firms believe, mixed work will limit their ability to expand office space

Expand office space

Firms believe, mixed work may limit their ability to expand office space

Ability to expand office space – Because the internet has separated employee productivity from their actual presence in the workplace, businesses do not expect their office space requirements to rise at the same rate as their workforce in the near future. 
 
“However, we don’t have to expand office space at the same rate.” “We chose a hybrid strategy for our workplaces, which is expected to become the norm in the future.” Employees can work from anywhere other than the base site for two days a week under the conglomerate’s new hybrid work plan.  
 
Because of hybrid work, Archana Chadha, the Head of Human Resources at multinational bank HSBC India, has seen cost efficiencies rise during the pandemic. “We had to relinquish control of a structure.” We didn’t have to rent more places, though. Because of our flexible working arrangement, we were able to keep up.” The company has begun categorizing roles into four categories: office goers, hybrid office, hybrid remote worker, and only home worker. This means that employees can choose to come into the office all five days, 60-80% of the time, 20-40% of the time, or work entirely from home, depending on banking regulatory requirements and customer needs. 
 
This follows on the heels of coworking spaces reporting greater demand from corporate clients. However, ITC does not believe the notion will be implemented in the near future. It is more suitable for organizations with a capacity restriction in the short term, according to Mukherji.
 
“Having your own office space as part of a hybrid strategy allows coworkers to connect, improve relationships, and increase social equity.” It is also considering modifying the appearance of its offices.

Ability to expand office space

TC is considering additional common areas for its new offices, such as the one in Rajarhat, Kolkata, where staff will conduct meetings in groups of two or three. 
 
WNS’s Chief People Officer, R. Swaminathan, concurs with Mukherji’s perspective about real estate facilitating culture formation, particularly among new employees. Another large MNC, this time a business process management firm, will investigate the hub-and-spoke model. It previously had large-format offices housing 4,000 employees under one roof. “We’ll most likely look at smaller centers and operations that we can geographically disseminate across a city.” During the pandemic, he claims they opened at least seven such small offices in Mumbai and Delhi-NCR. 

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