Remote working may soon be over in India as organisations are switching over to hybrid model, a survey by real estate firm CBRE South Asia Pvt. Ltd has said.
According to the survey 73 per cent of office space occupiers in the country are evaluating hybrid working arrangements going forward instead of granting work from home to its employees.
This survey has said will be taking place as the effects of the Covid-19 pandemic are slowly reeling back.
The survey mentioned the trend of considering the hybrid work model has emerged as companies are primarily opting for flexible working patterns post the pandemic.
It said 78 per cent of the occupiers have underlined employee health and wellbeing as the most important element while facilitating return to office.
“The flexible working approach is a mix of four patterns that includes just-in-case remote work for specific circumstances, three-plus office days a week, an equal mix of office and remote work, and remote work for three-plus days a week," the surveytitled ‘2022 India Office Occupier Survey’ has said.
The survey said about 38 per cent of respondents stated that they would consider an equal mix of office-based and remote work, while the remaining 35 per cent of respondents permit more than three office days in a week.
The technology and BFSI corporates who plan to implement hybrid working policies would mainly prefer an ‘equal mix of office-based and remote work’ or ‘mostly in office’, it mentioned.
Office demand is expected to continue to grow as 62 per cent of respondents in India intend to increase the size of their real estate portfolios over the next three years, the report further noted.
One-third of the respondents indicated consolidation in fewer locations, along with meeting flexible demand via co-working spaces as part of their flexible portfolio strategy, as per survey.
The survery found that 52 per cent of the respondents were willing to relocate to occupy ESG-compliant buildings, while another 7 per cent were willing to relocate even with a premium rental.
About 44 per cent of companies retained dedicated seating arrangements as of 2022, well below the 81 per cent of firms who did so pre-pandemic, as per survey.