WORK FROM home or back to the office — the debate still rages. While work from home, or WFH as is common parlance now, was a panacea for workflow disruption, companies are acutely aware of the toll it has taken on mental health, collaboration, performance management and, most importantly, the work culture at their organisations. A recent survey by real estate consultancy firm CBRE showed that while the “purpose” of an office may have changed, the relevance of a physical workplace remains undiminished.
The compromise so far has been a hybrid working model, with some employees trudging back to offices and the rest working from home. But, as the pace of vaccination picks up, companies are gearing up to bring back more of their employees into a physical workplace. Only, it may not necessarily be back to their office. Instead, the coworking space is becoming an increasingly attractive proposition.
The strategy around new workplace models is now centred on flexibility, to balance employee satisfaction with business requirements. And this is the biggest reason why, after a year-long lull, coworking space operators are bullish. Indian coworking firms have been bulking up, with nearly 75,000 seats leased this year. Their flex stock, an industry term for a coworking space, currently stands at 36 million sq. ft, up from 31 million sq. ft last year, according to CBRE, and is expected to grow by 10-15 per cent annually over the next three years.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MAKING A BOLD BET
Schauna Chauhan is making a big bet on dairy, a difficult space in India, while also diversifying Parle's portfolio.
Growing Under Pressure
Nisaba Godrej has ensured that GCPL's growth stays on track even during tough times
WINDS OF CHANGE
IT'S STILL NOT EASY TO BE A WORKING WOMAN IN THE COUNTRY AND MAKE IT TO THE TOP. BUT COMPANIES ARE WORKING TO INCENTIVISE AND RETAIN WOMEN EMPLOYEES IN THE WORKFORCE BY OFFERING A RANGE OF BENEFITS.
QUEENS OF THE MARKET
THE NUMBER OF WOMEN FUND MANAGERS HAS MORE THAN DOUBLED FROM 18 IN 2017 TO 42 IN 2023. HOWEVER, WOMEN FUND MANAGERS STILL MAKE UP ONLY 8.88% OF THE TOTAL FUND MANAGERS PRESENT IN INDIA.
"India presents tremendous growth opportunities for IHH"
Singapore-based IHH Healthcare, which reported revenues of $4.55 billion in 2023, owns hospital chains Fortis Healthcare and Gleneagles in India.
APERFECT SCRIPT?
Adar Poonawalla’s decision to invest `1,000 crore in Karan Johar’s Dharma Productions is certainly intriguing.
"Viksit Bharat in reach if female workers increase"
Franziska Ohnsorge, the World Bank's Chief Economist for South Asia, on trends in female labour force participation rate, policy measures, and more
Ambuja Checks into Orient
The Adani Group-owned company has made five buyouts in less than two years and is hungry for more
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?