As Work from Home (WFH) has become a reality, there is an increased demand for functional and flexible spaces that can accommodate workspace conveniently located in urban centres for easy access of the employees.
It is not the only business that is looking for more resilience through flexible forms of real estate, property developers and landlords also are looking for a sustained model of creating a need-based ecosystems for future of work where hybrid models of working are becoming acceptable norms, according to CIRIL.
Co-working and flexible spaces are going to be the main demand driver in the commercial and real estate segment as more workforce and office workers take up remote or flexible work practices, it said.
augmentation of existing infrastructure is needed to address the needs of hybrid work culture. Smaller cities are becoming more popular as an investment option.
In Tier II and Tier III cities there is a huge potential for infrastructure and real estate development.
There is a lack of organizational structure, team building activities, collaboration, interaction and motivation that leads to employee burnout, loneliness and mental health issues, according to CIRIL.
New models of hybrid and collaborative working environment that strikes the right balance between working place and time as well as fostering a healthy relationship between employee and employers have been explored.
The IT and ITeS sectors were the first to experiment with hybrid models a decade ago and since then they have created a robust policy framework to support the workforce. The sectors are adapting to hybrid models as a post-pandemic strategy.
The rest of the report is auto-generated from a syndicated feed, and only the headline and picture may have been reworked by the Business Standard staff.
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