Pune: Open offices, remote working, co-working spaces and a healthy work-life-balance concept is gaining traction in the mind of the next generation of workers. Office space usage, workplace practices, and the impact of technology have a profound impact on the company’s people culture policy. Nearly half of the surveyed companies in India admitted that there is an increase in employee productivity and cost effectiveness by adopting open workplace. The Evolution in Workplace Trends study report by Vestian Global Workplace Services in association with Nielsen reveals that open workplace culture leads to on an average 5-7% increase in productivity and reduction in costs.
According to the survey, 50% of the surveyed companies have said that by adopting innovation in workplace design and practices and by using suitable technology, they have been able to cut cost by 5 – 10% and increase employee productivity by 15 – 20%. The millennials have a different outlook and high expectations from their employers. The Indian companies are on a course correction to remain in-line with emerging changes taking place in workplace practices and are also invest in the future.
Highlighting key findings of the study, Mr. Shrinivas Rao, CEO-APAC, Vestian Global Workplace Services said, “The study aims to get deeper insights on the ever- growing real estate market in Mumbai as well as the ever evolving workplace design and practices. The Indian workplace is evolving faster than ever before and there is a new pattern of work that is emerging; and with that, there are new technologies and behavior entering our organizations”.
Most surprisingly, the growing number Indian companies are focusing on recreation facility in most segments. Particularly in the service industry – IT/ITeS provide recreational facilities that include gym, indoor games, libraryand break-out spaces. Companies believe that providing flexibility to employees boosts productivity by 15-20%.
The study further indicates that the growth in biometrics and other automation products is projected to reach next levels in the building security system to save expenses and improve productivity.
Ms. Seema Kapur, Director, Consumer Insights, PEIT and IMR from Nielson said, “The Workplace Evolution Trends report has captured a macro level working of the commercial real estate sector in Mumbai. It brings together two co-related aspects – commercial real estate and changing workplace trends to study the link between them in depth.”