According to a report by Unispace Global Workplace Insights, 91% of Indian companies have expanded their office space over the past two years, surpassing the global average of 75%. The report, based on a survey of 9,500 employees and 6,650 employers across 17 countries, indicates that the workplace is still seen as a critical asset, with many businesses increasing their real estate portfolio.
The findings challenge the previous trend in 2021, when 84% of global firms revealed plans to decrease the amount of office space they maintained. The report also highlights that globally, 74% of businesses plan to increase their office space in the next two years, suggesting that the office is far from redundant in the hybrid working model.
Indian workers exhibit a strong preference for office-based work, with 92% of employees expecting to be in the office at least four days a week in the near future, higher than the global average. The lack of access to office space has even driven people to switch jobs in India, with 28% of employees stating that they moved to a new company, indicating the significant value placed on physical workspaces.
The report emphasizes the need for employers to provide inspiring and purposeful office spaces that meet the needs and values of employees. It highlights that while employers believe employees dislike going to the office due to household chores, equipment logistics, and concerns about mental well-being, Indian employees actually appreciate the privacy, productivity, and effectiveness of working from home.
The survey also revealed that 81% of Indian employees believe that remote work limits career prospects, and employers shared this sentiment, with 96% indicating career limitations for those not in the workplace.
Unispace, a strategy, design, and construction company, conducted the survey and entered the Indian market in 2021. It has completed 15 projects in India and is currently working on several more in cities such as Hyderabad, Pune, Bengaluru, and Delhi.
