Global Firms To Reinvent Office Space For Life After COVID-19 Pandemic: Report

46 per cent of companies plan to improve the amenities at workplace for employees

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Edited by Nikita Prasad
Written by

Edited by Nikita Prasad

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Global companies intend to relook their workplaces in order to work on corporate brand and culture after the COVID-19 pandemic for improving employee-centric facilities. According to a recent research report by leading property consultant Knight Frank, a survey of as many as 400 international businesses, employing more than 10 million people, revealed that occupiers are trying to revitialise their office spaces, in order to boost employee collaboration and weel being. It may also result in attracting new talent. (Also Read: Second Wave Of COVID-19 Affected Sentiments Of Real Estate Stakeholders )

The property consultant's second edition of its (Y)OUR SPACE report indicated that global companies are trying to bring in a unique insight into the workplace strategies and real estate needs of its workspaces. The survey also revealed that around 90 per cent of global companies regard real estate as a strategic device to support the wider transformation of their office space.

Additionally, 65 per cent of companies seek to grow or stabilise their office portfolio within a period of three years. Out of which, 46 per cent of companies plan to improve the amenities at workplace, for the convenience and well-being of employees after the COVID-19 pandemic. The report highlighted that even after more than a year of restricted access to offices, businesses see their workspaces as essential to their respective corporate identities. This became vital for employee retention, noted survey results.

According to the report, among Indian office occupiers, the corporate image remained a primary strategic objective, best supported by a real estate asset. Talent attraction and retention were a close second to the corporate brand and image. However, the citation of restructuring and operational transformation came as the third most preferred strategic category. These results showed the changing needs of business operability influenced by the ongoing second wave of the COVID-19 pandemic.