Commercial | August 2021

Large-scale hiring to drive workspace demand

Large-scale hiring to drive workspace demand

With the advent of the third wave of the pandemic, companies have begun to settle into new work models. Numerous companies are on large-scale hirings, and many sectors are rebounding stronger than ever. In an interview with PTI Sanjay Dutt, Tata Realty and Infrastructure MD and CEO says “Commercial activities have gone up already with a sharp fall in COVID cases. 'Return to office' will increase going forward. Early signs indicate that the total net leasing of office space in 2022 across seven major cities will cross last year's number,"(1) There has been an upsurge of hiring fresh talent across all sectors recently, even with contemporary working models it’s bound to drive a sharp demand for workspaces. Because of the pandemic, companies had to take additional measures to retain top performers and build a strong work culture and environment.

The hiring spree of 2022

The year 2022 saw significant hiring sprees across companies. As a result of the pandemic, digital talent and skills have been in high demand. With an evolving digital environment, the demand for IT services companies continues to be strong and parallels the growing demand for digital talent. This was the highest year-over-year increase in headcount for this cohort of companies. (2) A recent report by a human resource firm says hiring intentions can rise as high as 9%, which is the highest rate since the outbreak of Covid. (3) Apart from hiring new employees, to retain existing talent, organisations are offering incentives that have never been offered before and changing long-standing policies to encourage people to return to work.

Ways to retain talent

Employees today expect more flexibility, better technology, and bonuses, and businesses must respond. Several companies have stated their plans to implement hybrid virtual work in the future. Even if their plans haven't solidified, organisational leaders must connect with their staff more frequently to build a post-pandemic environment. Employee well-being and productivity have grown in organisations that have developed specific policies and new approaches to the future workplace. (4)

The role of the workspace

Employees use their workspaces not just to tackle deadlines but also to learn and network. Businesses are increasingly implementing floor plans that encourage both individual and collaborative work.

Organisations that provide a plethora of working environments, from solitary desk work to flexible seating for when individuals need a break, to collaborative spaces that stimulate team engagement and social spaces, foster a productive work atmosphere. A mix of these experiences encourages worker agency while also giving structure. Finally, companies should follow health regulations to maintain their safety and long-term sustainability.

Several companies have published surveys that indicate that 41% of the global workforce will consider switching jobs by 2022, with 55% citing the work environment as a major factor. (5) Workspaces by Brigade understands that every business has its own unique goals and objectives. Regardless of the size of the business, Brigade Group offers both small and large companies excellent and a positive workspace environment.

Brigade offers premium and flexible spaces that are envisioned to be unique, flexible, and sustainable for the modern workforce.

Citation:

1.https://www.business-standard.com/article/companies/return-to-office-hi rings-to-drive-office-space-demand-in-2022-tata-realty-122041700204_1 .html 2.https://economictimes.indiatimes.com/jobs/deloitte-pwc-ey-and-kpmg-o n-a-hiring-spree-in-india/articleshow/91365291.cms 3.https://www.newindianexpress.com/business/2022/jan/06/firms-hiring-in tent-may-rise-up-to-nine-per-centin-january-march-2403676.html 4.https://www.mckinsey.com/business-functions/people-and-organizationa l-performance/our-insights/what-employees-are-saying-about-the-future-of-remote-work 5.https://www.microsoft.com/en-us/worklab/work-trend-index/hybrid-work

Commercial, Brigade Group

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This issue is coming after a gap of one year. The April issue could not be released due to the 2nd wave of the pandemic and the connected lockdown.

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