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As we sprint towards normalcy, the years 2020 and 2021 will be visualized as historic years for businesses across the globe. It not only presented an opportunity to take a step back and reassess the approach towards business, but it also propelled companies to be more agile. Furthermore, it also catapulted the real estate sector for a fast-paced evolution, resulting in a new lifestyle and upliftment of the workplace dynamics. There is almost a flip between the ratio of open and enclosed spaces that includes the revamp of the existing workspace since cubicles have now become parse. Over the course of the last 2 years, the workspace dynamics have shifted to a livelier social, healthy and connected working environment.

The office space segment is expected to grow in 2022, with CRE in India expected to grow at an annual rate of 8% this year. Co-working office space, which has emerged as the trending preference for most occupiers, is expected to grow at a rate of 20–30 percent in seat absorption as companies adopt the hybrid mode of working. As a result, a surge in health and tech dynamics at work has been observed, which was not anticipated previously. Companies have become more agile in recent years, transforming the office environment into a more vibrant space while eliminating the traditional monotonous working style.

Workplace automation, touchless operations, sanitization programs are driving the demand in the office space segments across the globe. The new normal has propelled the commercial office space to adapt employee centricity and employee wellness to transform the workplace. Today, the nature of workflow has become more fluid enabling the companies to experiment and create more efficient models to optimize work culture. The hybrid model is here to stay, what needs more attention is the seamless transition of work from home to work from office. As there is no single way to do it, companies are keeping no stone unturned when it comes to navigating through possible solutions. Collaboration, agility, trust, relationships are all one of the crucial factors in creating an optimal hybrid model for the new-age employees.

Optimal hybrid models- The New Era of Efficient Working

With normalcy within reach, it is important for both developers and brands to braid the physical and the digital world to enhance the overall fluidity of the workplace. This could be achieved by laying the new ground rules for a smooth workflow.

Today, many organizations have embraced the hybrid working model with two days to four days a week pattern. Laying such rules creates an optimal working environment that offers a wider fluidity. It is the fluidity that will help the organizations to strike a balance between me work and we work. Similarly, developers are attempting to create long-term properties that can provide seamless integration while also meeting the changing needs of the burgeoning talent pool. Individualistic business growth is aided by these flexible and adaptable future-ready workspace solutions. Employees now want a safe, social and secure working environment Transparent and frequent communication is helping in establishing a systematic path which is essential for keeping the organization in sync while creating a new era of efficient working.

Gig inflection – The Business Growth Enabler

As companies become more fluid when it comes to work culture and working model, India houses a large pool of talent who looking for the right opportunity which is where gig economy takes the center stage. In India, gig work is not a new concept. India has always had the equivalent of gig work, from temporary farm workers to daily-wage construction laborers to household help, thanks to its large informal economy and 'casual workers' segment – but the new normal has expedited this trend even further. The gig economy encourages people to complete flexible tasks that often include interacting with clients via an online platform. Employees, businessmen, and consumers have benefited from being more adaptable as the demand for versatile lifestyles has grown. It allows for seamless work-life integration as well as a variety of business growth solutions. With the changing nature of work and the workforce, new-age office campuses offer practical solutions to meet the needs of today's workforce. The new workforce environment has made it easier to experiment with work creativity, resulting in successful collaborations. Workplaces are being transformed into clubhouses, complete with a healthy ecosystem that promotes healthy networking. Furthermore, providing high-quality amenities is important when collaborating and mingling with the group in order to build the best version of oneself.

Today, the gig economy presents an opportunity for India to drive job creation and economic growth even in the tier 2 tier 3 & remote regions.  It also helps the brand in attracting the right talent to enable business growth. Technology platforms operating at scale within an ecosystem of information and services can help unlock efficiency, bring in demand-supply transparency, and drive greater formalization and financial inclusion while keeping employee well-being a top priority.

Attracting & retaining the right talent

For improved productivity and the right pace, companies today are keeping employee well-being their top priority. The new normal has also encouraged the new age workforce to enhance their skillset which would enable their future growth. Companies today have become more human than ever and with new normal, humanizing workplaces is becoming a trend.  The goal is to aid in the development of a healthy competitive culture that leads to transformational changes. Furthermore, sustainable office campuses with the added assurance of safety and amenities have proven to be effective at encouraging talent to be more productive. Employees in green office environments scored 26 percent higher on cognitive function tests that included job category, control of annual earnings, and level of education, according to a Harvard study. They also reported 30% fewer sick-building symptoms than those who worked in non-certified structures.

Employee centricity, or workplaces that prioritize employee well-being, is transforming the workplace culture around the world. As organizations assist employees in navigating through the larger vision for a hybrid workplace, an exponential change in the relationship between employees and their employers is witnessed.

Similarly, ESG as an approach has been engraved to give back to society while creating sustainable workspace solutions. Purpose, growth and scale are driving forces behind this new way of working. The transition to a more sustainable office premise and workplace that enables brands to elevate employee engagement is becoming more popular. Moreover, it is helping in striking a balance in productivity, and a sense of connection with the evolving future of work.

The new way of working, combined with reimagined workspaces, fosters a motivating work environment that allows for scalable growth.


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Alok Aggarwal
Managing Director & CEO - Brookfield Properties

Alok is Managing Director & Chief Executive Officer, for Brookfield Properties in India, where he oversees all aspects of the business including design, development, strategic initiatives, finance, corporate strategy, leasing and tenant relationships. Alok has spearheaded the largest professional office platform in India, creating a customer-focused senior management team. Under Alok’s leadership, Brookfield Properties has established itself as one of the strongest brands and a preferred choice of top global and Indian occupiers. He has also strengthened the company’s commitment to environment, social and governance (ESG) practices in India. Alok has over three decades of multifaceted experience in leadership roles, both in operations and investments. Alok holds a bachelor’s degree from IIT Delhi and an MBA from ISB Hyderabad.

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