With 3 days a week most popular hybrid choice, India Inc looks to expand office spaces: Report

Among sectors — consulting, BFSI, and engineering firms are at the forefront of adopting hybrid working, as per a survey of large, mid-sized and small firms conducted by Colliers.

As hybrid remains the most popular model of working, 38 percent of organisations are looking to lease new office spaces in the next 6-18 months. For this, they are looking to lease traditional as well as flex spaces, according to the report.

It added that another 35 percent firms would like to retain their existing portfolios. Only about 13 percent firms surveyed by Colliers said they will look to consolidate their office spaces.

Of the companies planning portfolio expansion in the next 6-18 months, half of them belong to the technology sector, followed by BFSI. Ramesh Nair, Chief Executive Officer, India and Managing Director, Market Development, Asia, Colliers, said in a statement said the trend is led by the massive growth being witnessed in the IT and BSFI sectors.

“About one-third of the occupiers surveyed revealed that their productivity increased by 5-10 percent with hybrid working,” he added.

The survey also noted that about 35 percent of the firms are willing to set up flex office spaces in non-metro cities to cater to changing employee needs.

Nair added that the tier II story is back in the market, with large firms leading this trend, as almost 70 percent of the large enterprises are open to exploring flex in non-metro cities, while only 27 percent of the smaller firms are considering the same.

He said offices are now evolving into centres of collaboration and innovation, with the well-being of employees at the core. He felt that a hybrid work style needs to be supported by apt technological intervention to ensure seamless collaboration and communication.