Indian real Estate firm CBRE announced the findings of its latest report, ‘2022 India Office Occupier Survey’. The report findings indicate that 73% of the occupiers in India are evaluating hybrid working arrangements going forward. The trend emerges as companies primarily opt for flexible working patterns post the pandemic. 78% of the occupiers have underlined employee health and wellbeing as the most important element while facilitating return to office.
In the official statement, the company noted that flexible working approach is a mix of four patterns that includes just-in-case remote work for specific circumstances, 3+ office days a week, an equal mix of office and remote work, and remote work for 3+ days a week.
The study reveals that about 38% of respondents stated that they would consider an equal mix of office-based and remote work, while the remaining 35 % of respondents permit 3+ office days in a week. The report also highlights that 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’.
As per the survey findings, occupiers are eyeing sustainability and wellness as part of their strategy to expedite return to office as ESG principles gain momentum. 52% of the respondents are willing to relocate to occupy ESG-compliant buildings, while another 7% are willing to relocate even with a premium rental. Office demand is expected to continue to grow as 62% of respondents in India intend to increase the size of their real estate portfolios over the next three years, while one-third of the respondents indicated consolidation in fewer locations, along with meeting flexible demand via coworking spaces as part of their flexible portfolio strategy.
Commenting on the findings, Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE said, “Return to Office for several corporates in India is already underway, with varying occupancies currently observed across cities as well as sectors. However, with the widespread adoption of hybrid working since the pandemic, many companies are still considering the degree of flexibility needed to enhance employee productivity and connectivity”